Entity falsely claims to be associated with MiWay Insurance
FSCA warns about Miway Express Credit Solutions, as well as entities and individuals who are impersonating legitimate FSPs.
Industry News
PSG delivers 28% earnings surge despite tough market conditions
The group reported a 15.9% increase in assets under management to R435bn.
Why lower CPI won’t mean lower healthcare costs for South Africans
Medical inflation outpaces CPI because of unique pressures such as the rising costs of technology, chronic diseases, and private healthcare pricing.
The rise of ‘non-attack’ data claims in a changing cyber landscape
The Allianz Commercial Cyber Security Resilience report shows that the costs associated with certain data privacy breach claims can match or surpass those of ransomware incidents.
Former TETA CEO sentenced to 7 years for role in Fidentia scandal
Court finds that Pieter Bothma accepted bribes to facilitate unauthorised investments, laundering millions for Fidentia’s directors.
CMS aims to release long-awaited report into racial profiling by year-end
Launched in 2019, the inquiry sought to investigate allegations of racial profiling by medical schemes. As 2024 draws to a close, the CMS is still battling objections and technical reviews to finalise the report.
Medical scheme contribution hikes for 2025: what’s driving the surge?
Contribution increases in 2025 are exceeding CPI, with some medical schemes aiming to rebuild reserves and ensure long-term sustainability.
Cautious investors pivot to domestic assets as rand strengthens post-election
The stronger rand has shifted the focus back to domestic equities and property. Managers leaning into local value and shedding expensive offshore assets are reaping the rewards of this pivot.
Alarm bells ring as Sanlam reports high withdrawal claims among vulnerable members
In September, Sanlam received more than 83 000 withdrawal claims, with most coming from members aged 35 to 44, many of whom had a replacement ratio below 50%.
Two-pot withdrawals: taxpayers who understate their income face penalties
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
Cybersecurity Awareness Month: small businesses must prioritise protection as cyberattacks surge
SMMEs serving critical infrastructure and global corporations, as well as those in regulated industries such as insurance, healthcare, banking, and credit monitoring, are particularly vulnerable.
MTI liquidation: a global effort to recover crypto funds from a Ponzi scheme
Leveraging the Model Law on Cross-Border Insolvency, the liquidators co-ordinated with courts in the US, UK, and Australia, setting a precedent for future international crypto claims.
Ombud Council’s first formally tabled report highlights reforms in financial dispute resolution
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Bestmed’s 2025 contribution hike is the biggest of top five open schemes
Bestmed says that rand for rand its benefit options will remain competitive despite the proposed average increase of 12.75%.
Retirement funds are the new ‘must-have’ – thanks to the two-pot system
The system is driving a shift in how members engage with their retirement funds. Members are monitoring their savings and reacting to market fluctuations, says Old Mutual.
ASISA flags ‘problematic’ amendments to two-pot legislation
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
