Steinhoff’s fall: former CFO Ben la Grange sentenced
La Grange was sentenced to 10 years in prison, with five years suspended contingent on his co-operation with the State in future cases involving Steinhoff’s executives.
Industry News
Sanlam wins appeal as High Court enforces policy’s contractual terms
The High Court overturns a Regional Court’s decision that allowed a policyholder to cancel her five-year endowment policy early.
RAF makes noise while silence reigns on draft Road Accident Amendment Bill
Judgment is ‘forthcoming’ in the contempt of court case against the Road Accident Fund and its CEO, as Discovery Health seeks the enforcement of court rulings regarding unpaid claims.
Rise in complaints about medical schemes clawing back losses allegedly linked to fraud and waste
Schemes and healthcare professionals are at odds over whether these recoveries are justified, says the Council for Medical Schemes.
Total of R5.3m frozen as court issues second order in ‘pyramid scheme’ case
The National Consumer Commission claims the scheme misled participants with false promises of grocery rewards and high returns.
As medical schemes announce hikes, members brace for tough choices amid rising costs
With major medical schemes reporting average contribution hikes exceeding 9%, members face tough choices in an increasingly unaffordable healthcare landscape.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
Squirrelling away financial wisdom: children’s books make money smarts fun
During Financial Planning Week, Moonstone Business School of Excellence applauds Foord’s initiative to promote financial literacy among young children.
Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
Accidental confession leads to conviction in insurance pay-out murder
A woman and her accomplice were each sentenced to 26 years in prison for murdering her uncle so she could benefit from his life cover.
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
The China bazooka stimulus: risk assets melt up?
Interest rate cuts, infrastructure bonds, and a revitalised stock market – China’s new stimulus package is poised to impact global investment strategies.
Accountancy body’s chief executive dismissed after forensic investigation
SAIPA’s board has terminated CEO Shahied Daniels after findings of serious misconduct, including unauthorised international dealings and financial irregularities.
