OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Industry News
Bid to have RAF CEO sentenced to ‘suspended imprisonment’ for unpaid debts fails
A challenge to the RAF’s failings must consider the complex inter-governmental duties on which the social security scheme depends, judge says.
Ombudsman’s report unveils banking blunders and customer missteps
The cases dealt with by the banking ombudsman last year included a home auctioned for far below its value and fraud linked to a stolen phone.
Adapt, be curious, and embrace change, says FPI award finalist
René van de Spreng, a wealth manager and director at Apex Private Wealth, is one of three finalists for the 2024 Financial Planner of the Year Award.
South Africans are feeling a lot better about their finances – survey
The latest Old Mutual Savings & Investment Monitor finds a decrease in households dipping into their savings and cashing in their investments early.
Why I turned mildly bearish and opted for a defensive strategy
The formation of the GNU sparked a rally in local financial markets. But as storm clouds gather on global equity markets, the long-term outlook remains uncertain.
South Africans ‘ignore’ debt woes: survey highlights growing financial strain
The Money Stress Tracker survey finds that consumers’ response to financial strain is long on intent but short on action.
CrowdStrike sensor glitch: implications for cybersecurity and insurance
The CrowdStrike Falcon sensor update-induced global system crash could be the most significant cyber accumulation loss event since NotPetya in 2017.
Financial planning is not a job but a calling, says FPI award finalist
Rudolph Geldenhuys, a senior financial planner at WealthUp, is one of three finalists for the 2024 Financial Planner of the Year Award.
Nearly all tax refund reversals have been resolved, says SARS
The revenue authority apologises to the 30 000 taxpayers whose refund payments were reversed.
Linking certificate of need to NHI is ‘purely mischief’, says health ministry
Headlines characterising the High Court’s judgment as a huge blow to NHI ‘are in the same mould as Bell Pottinger propaganda’.
‘State capture transactions’: Nedbank to pursue counterclaims
Transnet and the SIU institute legal proceedings against Nedbank to set aside interest rate swaps that occurred when the SOE was advised by Regiments Capital.
Here are the three contenders for the Financial Planner of the Year Award
The winner will be announced at the FPI awards ceremony and gala dinner, held on the first evening of the two-day 2024 FPI Professional’s Convention.
Blow to health department’s plan to tell doctors where they can work
The High Court finds that sections of the National Health Act providing for a Certificate of Need scheme do not pass constitutional muster.
Common reasons life insurers reject death benefit claims
Life insurers paid almost 96% of death and funeral benefit claims last year – with the total payout worth R39.9 billion.
Alexforbes launches infrastructure fund amid government’s investment surge
The AF Infrastructure Impact Fund-of-Funds will invest across multiple sectors, including energy, transportation, and public utilities.
FSCA issues alerts of scammers impersonating licensed FSPs
The public is also urged to be wary of doing financial services business with two entities that might not be authorised.
