UPDATED | FSCA details basis for debarments of Africa Bitcoin officers
The regulator says its investigation into September 2022 share transactions found contraventions of the Financial Markets Act.
Industry News
SCOPA blames RAF’s litigation failures for billions in legal costs
The committee says delays in investigating and settling claims, combined with a chaotic approach to litigation, have driven much of the Fund’s escalating legal bill.
Why did one law firm get 90% of RAF Corporate Panel work?
An arrangement intended to cost R10m for 10 months ran for years, absorbed R26.6m in seven months, and included claims work outside its scope.
RAF’s 25% contingency-fee cap under scrutiny
SCOPA says linking attorneys’ success fees to claim values may create incentives to inflate claims, while billions in legal costs flow through a small group of firms.
A poor credit score and insurance hopping could push up your premium
An impaired credit record and frequent switching may combine to make affordable short-term insurance more difficult to obtain.
Old Mutual earnings set to fall despite operating growth
Life APE sales and gross flows rose 21%, while results from operations are expected to increase, but investment returns have put pressure on profitability.
IRFA elects new leadership as Andrews takes the chair
IRFA will focus on governance, member education, and constructive policy engagement as the retirement-fund sector navigates continuing regulatory change.
Treasury’s strategy for unclaimed benefits ‘conflates two separate issues’
The industry broadly supports centralising tracing and administration but questions whether moving assets to the CPD is necessary, appropriate, or in members’ interests.
Retirement advice: The right help at the wrong time
Many members value retirement guidance, but research suggests it often comes after key savings, preservation, and income decisions have already been made.
GEMS faces scrutiny over costs, governance, and reserves
Parliamentary questions extend from fraud and outsourcing to trustee remuneration and benefit design, while the scheme’s reserves remain below the statutory requirement.
What do you do when nobody knows what happens next?
For insurers making decisions about risks and commitments that may play out decades into the future, leadership increasingly means acting wisely without the comfort of certainty.
Consumers are doing the maths – and AI is changing the equation
Financial pressure is prompting South Africans to scrutinise value more closely, while AI is giving them new ways to research and compare businesses before they engage.
Santam keeps underwriting on target despite R1.5bn claims
Severe storms drove a sharp increase in large claims, but improved book profitability and underwriting discipline helped keep the margin above the target midpoint.
FSCA warns: Check who is behind the FSP name
Recent cases show how legitimate company names and representative details can be misused, while other warnings concern unlicensed investment and trading activities.
ConCourt settles the test for competition authorities’ jurisdiction over foreign banks
Offshore companies are not beyond the Competition Commission’s reach, but a local connection alone will not be enough to bring them before South African competition authorities.
Final FSCA levies gazetted for 2026/27
Moonstone’s updated calculator enables FSPs to estimate their Schedule 2, Ombud Council, Tribunal, and FAIS Ombud levy components.
GEMS suspension puts governance under scrutiny
DENOSA says the lack of disclosure over Stan Moloabi’s suspension raises wider questions about the scheme’s leadership, accountability, and handling of member concerns.
