South Africa’s insurance industry faces an uphill battle
Aon’s 2023 State of the Market Report unveils troubling trends as South Africa’s insurance landscape grapples with various challenges.
Apex court clarifies timing of dependency test for death benefit payouts
The Constitutional Court rules that whether someone qualifies as a dependant must be determined as at the date of a retirement fund member’s death, not when the fund decides how to distribute the benefit.
Forex trader seeks to have R20m fine and 20-year debarment reconsidered
Craig Massyn submits the penalties imposed on him were disproportionately large compared to those imposed on the other directors of the Praesidium Group.
FIC issues guidance for trust and company service providers
Persons who are trustees in their personal capacity only are not accountable institutions.
Will insurtech disruptors topple insurance giants?
Old Mutual Insure’s chief commercial officer weighs in on the trends set to define the short-term industry over the next decade.
Harsher consequences for not filing cross-border EFT reports with FIC
Two sections of the Financial Intelligence Centre Amendment Act have come into effect.
TCSP guidance welcome, but grey areas remain, says FISA
It may not always be clear when someone has crossed the line into carrying on the business of creating a trust arrangement for a client.
Medical schemes body loses urgent contempt-of-court application against CMS
The latest round of litigation between the Board of the Healthcare Funders and the CMS over low-cost medical schemes.
New Trustee Training Toolkit will come online in September
A trustee must attain TKK certification within six months from the date of appointment or election to the board.
Public hearings on two-pot retirement system in September
The National Assembly’s Standing Committee on Finance has announced the deadline for submissions on various pieces of draft tax legislation.
Potential threat to South Africans who earn an income from foreign employers
A proposed amendment to the Income Tax Act will require foreign employers to withhold employees’ taxes.
Adjudicator did not allow retirement fund to respond fully to a complaint
SCA also finds that the High Court should not have granted punitive cost orders against the fund.
Earn your CPD points by getting up to speed on cyber-security
The course will enable you to assess the pros and cons of adopting cloud computing for an organisation, and what to consider when selecting a cloud service provider.
Investors told to beware amid probe into United African Stokvel
Law firm’s insights shed light on identifying warning signs and creating safeguards within stokvels to prevent misuse and promote trust.
Making black tax manageable begins with accountability
Published author Ndumi Hadebe weighs in on the importance of clear communication and setting healthy boundaries when it comes to black tax
PA publishes draft guidance notes for banks and insurers on climate-related risks, disclosures
Banks and insurers are expected to treat climate risk as a financial risk rather than merely a reputational risk event.
Beware of chancers: FSCA issues warnings against dubious operators
From individuals impersonating the FSCA to falsely presenting themselves as legitimate FSPs, alleged fraudsters are coming at consumers from all sides.
Why long-term investors should make peace with bear markets and market downturns
Investors should anticipate an equity market decline of at least 10% every 18 months, and a drop of at least 20% every five years.
