Labour Court overturns CCMA’s reinstatement of wealth manager
Failing to follow FAIS-mandated policy-renewal procedures and poor record-keeping constituted a serious regulatory breach that justified dismissal.
Industry News
Risk manager’s restraint of trade remains even while appeal is pending
Allowing an appeal to suspend the restraint would render the firm’s contractual protection meaningless, as the restraint period could expire before an appeal is heard.
No one is safe: FSCA sounds alarm on a surge in impersonation and investment scams
Fraudsters are increasingly impersonating reputable financial firms and executives to lure investors.
After FATF delisting, can South Africa catch the PAPSS wave – or miss it?
South Africa has a two-year window to leverage FATF delisting and integrate with PAPSS, unlocking faster, cheaper cross-border payments – or risk missing the opportunity.
Treasury concedes on one CIS tax proposal, holds firm on another
National Treasury has withdrawn its proposal that would have triggered capital gains tax when fund managers merge collective investment scheme portfolios.
Acting CEO and CFO among four suspended RAF executives
SCOPA’s inquiry uncovers layers of dysfunction – from years-long paid suspensions and costly legal battles to questionable appointments.
High Court rules on SARS’s R5.3bn claim against Sasfin Bank
The judgment dismissed parts of Sasfin’s exceptions and left SARS’s statutory claim under the Financial Sector Regulation Act to proceed.
Schools’ exit VAT liability postponed for a year
VAT-registered schools will have to deregister from 1 January 2026, but the deemed output VAT on retained assets will only be payable the following year.
SARB’s new exchange control rules draw criticism
The Institute for International Tax and Finance says the latest exchange control changes could discourage foreign investors and add red tape for non-residents.
More taxpayers will be caught by lower ringfencing threshold
The threshold for ringfencing assessed losses from ‘suspect’ or ‘hobby-like’ trades will be reduced from the 45% marginal rate to 39%.
NDCA pushes for fit and proper requirements for debt counsellors
The Association’s proposal will embed COFI’s principles and the TCF outcomes into debt-counselling practice.
Bonitas commits to co-operating with CMS investigation
After concluding its section 43 inquiry into Bonitas, the CMS has determined that the allegations merit a further forensic investigation.
Treasury withdraws plan to tax foreign pensions, pledges wider consultation
Although the amendment will not proceed, Treasury remains concerned about double non-taxation and will re-engage with the industry to find a balanced approach.
Adjudicator’s rulings highlight ongoing confusion over two-pot withdrawals
The retirement funds correctly refused multiple savings component withdrawals and early access to vested benefits.
Surge in mental-health diagnoses – targeted programmes show results
Discovery Health data shows a sharp rise in mental-health conditions, particularly among young adults, yet structured programmes are helping members to achieve measurable improvements in well-being.
New Pension Funds Adjudicator appointed as Lukhaimane steps down
Lebogang Mogashoa takes office in December for a three-year term.
FSCA issues multiple warnings amid rise in year-end fraud attempts
As festive spending ramps up, the FSCA has issued a string of warnings about impersonators and unauthorised entities preying on consumers.
