The FSCA has once again extended – this time until 31 December 2023 – the exemption on compliance officers’ prescribed visits to FSPs’ business premises. The exemption was granted in 2017 to the […]
National Treasury has published a discussion paper, for public comment, on the two-pot system for retirement savings, which will allow for limited pre-retirement withdrawals, and on mandatory retirement savings for all employed and […]
The FAIS Ombud has warned that complaints about the rejection of homeowner’s insurance claims will be referred to the FSCA for investigation if she believes the disclosure at inception is wanting. This was […]
The Ombudsman for Short-term Insurance (Osti) told an insurer to settle claim from a policyholder who was not wearing his glasses at the time of an accident, despite the endorsement to his driver’s […]
An employer’s obligations to pay contributions to a provident fund ceased when the fund registered the member’s disability claim, not when his contract of employment ended, the Financial Services Tribunal has ruled. The […]
The Financial Services Tribunal has ordered the FSCA to come up with an “appropriate” administrative penalty on Markus Jooste after it set aside the fine of nearly R162 million the regulator imposed on […]
The Ombudsman for Short-term Insurance (Osti) has rejected a policyholder’s argument that the insurance company should have inspected his property’s roof before providing cover. Following a storm, the insured submitted a claim for […]
The Ombudsman for Short-term Insurance (Osti) has rejected a policyholder’s argument that the insurance company should have inspected his property’s roof before providing cover. Following a storm, the insured submitted a claim for […]
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
The Financial Intelligence Centre (FIC) has issued a public compliance communication (PCC) that clarifies the requirement to determine whether a prospective client, existing client, the beneficial owner of the client and person acting […]
The Financial Intelligence Centre (FIC) has issued a public compliance communication (PCC) that clarifies the requirement to determine whether a prospective client, existing client, the beneficial owner of the client and person acting […]
The inability of police officers to breathalyse a driver who may be under the influence means an insurer has to rely on circumstantial evidence, such as statements from witnesses, to prove intoxication. However, […]
The Ombudsman for Short-term Insurance (Osti) has upheld an insurer’s decision to reject a travel insurance claim despite a medical specialist stating that the policyholder might not have been suffering from a pre-existing […]
The SA Revenue Service (Sars) will introduce changes to its systems from 1 March 2022 so that taxpayers who receive income from more than one source, and where one of the sources is […]
The Financial Services Tribunal has upheld the debarment of West-Pro Holdings’ managing director and key individual for falsely claiming that the administrator’s funeral policies were underwritten by Old Mutual. It also upheld the […]
The Financial Services Tribunal has upheld the debarment of West-Pro Holdings’ managing director and key individual for falsely claiming that the administrator’s funeral policies were underwritten by Old Mutual. It also upheld the […]
