Penalties loom for non-compliance with OPFA information requests
OPFA 2022-2023 Annual Report annual report highlights key determinations in pension administration law.
Industry News
China to rise again – prefer indirect exposure through Richemont and LVMH
Infrastructure spending should be good for business and consumer confidence, leading to a rise in the China Non-manufacturing PMI and a re-rating of luxury goods stocks.
‘Due care and diligence’ at the centre of BHI Trust probe – FSCA
The FSCA’s investigation into FSPs who might have suggested the trust to their clients aims to assess whether these providers took into account suitability and risk factors.
Survey unpacks corporate taxpayers’ perceptions of Sars’s service
The results indicate an improvement in the level of service since 2018, but many taxpayers say it has become harder to comply with their obligations.
FAIS Ombud thanks FSPs for their co-operation to resolve disputes
The Ombud aims to issue determinations only as a last resort.
Financial services group highlights the role of the private sector for NHI to work
Adrian Gore says private sector funding is essential to maintain the quality of the healthcare system.
Discovery Health will seek contempt order against the RAF and its CEO
The administrator says the Fund has not complied with the Constitutional Court’s ruling handed down last month.
Transnet Retirement Fund interdicted from paying R8.9m in benefits to former executives
They are accused of inflating the price of disposable breathalyser straws from 29 cents to R29.99 a straw, resulting in a payment of R33.8m.
OUTsurance agrees to sell investment platform to Alexforbes
OUTsurance indicated earlier this year it was considering selling OUTvest, which has not met growth expectations.
‘Proposal to end medical tax credits will reduce disposable income’
A family of four will lose R14 640 a year, says Tax Consulting SA.
Axiam is preparing to take legal action against Craig Warriner
The specialist fund manager says Warriner was not authorised to initiate or conclude any investment mandates on the company’s behalf.
Road Accident Fund ordered to compensate widow in suicide-related appeal case
The High Court found there was a clear causal connection between the injuries and the sequelae suffered by the deceased and his suicide.
Clientèle to buy 1Life Insurance in R1.9 billion transaction
The merger will create a combined embedded value of about R7.8 billion, and the insurers have 1.5 million active policies.
Complaints lodged against BHI Trust date back six years
A formal FSCA investigation into BHI Trust in 2020 found that several financial sector laws had been contravened.
Financial Intelligence Centre ‘freezes’ BHI Trust bank account
The court-appointed joint provisional trustees of BHI Trust are urging investors and creditors to submit their claim forms timeously.
Insurer ordered to pay R16 million claim for stolen masks
The High Court rejects Compass’s submissions that the insured made a material misrepresentation and breached a warranty.
Sasfin fires employees implicated in money-laundering investigation
The South African Reserve Bank intends to impose sanctions for alleged contraventions of FICA, the Exchange Control Regulations, and the Banks Act.
