Nedbank will defend itself in legal action related to ACSA transactions
The bank also says it closed the accounts of some 190 clients in 2023 following ‘reviews of client activity and related reputational risks’.
Industry News
Education costs surge: schools, universities see price hikes in 2024
Paul Hutchinson, sales manager at Ninety One, recommends growth-focused investments to protect against long-term economic changes – and inflation.
JSE unveils proposals to reduce regulatory burden on smaller companies
The move aims to stem the tide of delistings, which has halved the size of Africa’s largest stock exchange since 2001.
Old Mutual gets green light from Prudential Authority for new bank
The group is shifting from ‘bank-build mode’ to a testing phase with select banking partners.
ASISA says its members are working flat out to be ready for ‘two pots’
DA MP takes Old Mutual to task for comments suggesting the 1 September implementation date ‘may slip’.
ConCourt judgment in Capitec vs SARS clarifies important VAT principles
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
Third contempt application against RAF CEO amid legal battles over unpaid claims
The chairperson of the RAF board and the fund’s chief executive recently faced legal action for failing to accept delivery of documents pertaining to a claim for compensation.
SCA confirms the conditions for a suspensive condition to be waived
A property seller loses an appeal to retain a R1m deposit – the purchaser had not validly waived his rights to a suspensive condition.
Constitutional Court may decide dispute between Sygnia and former employee
Lesedi Kelatwang alleges his advocacy of BEE and transformation played a role in his dismissal.
Another state entity hit by ransomware attackers
The International Trade Administration Commission explains why it delayed notifying the public of the attack for almost four months.
SA stocks and long-term government bonds are cheap, but not excessively so
How foreign investors and rating agencies view the outcome of the general election will affect the direction of bond yields and equity prices.
Man defrauds Santam while in prison for defrauding Mutual and Federal
Oudtshoorn Regional Court sentences husband to 26 years’ imprisonment and his wife and accomplice to 7 years for a ‘well-planned scheme’.
Arrear contributions: publishing employers’ names ‘is having an impact’
Deputy commissioner sets out the FSCA’s priorities for the supervision and regulation of the retirement industry.
Indiberries & Co goes to ground after FSCA warning
The “investment platform” claims to offer investment opportunities in berry farming ventures while promising returns of up to 45% a month.
Amendments proposed to clarify attachment of living annuities and trust assets
The South African Law Reform Commission releases its final report containing recommendations on changes to the Maintenance Act.
Discovery reports surge in chronic diseases, urges annual check-ups
Discovery Health Medical Scheme reports that the rate of annual health checks exceeded pre-Covid levels in 2023.
Reana Steyn appointed to lead new National Financial Ombud scheme
The role of the NFO is to aid financial customers to obtain redress for alleged unfair treatment by financial product or service providers.
