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.
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
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.
FIC highlights money laundering risks in the accountancy sector
The aim of the draft risk assessment is to help accountants understand the sector’s money laundering and terrorism financing vulnerabilities.
More amendments on the table to get SA off the grey list
One of the amendments will allow Sars to share taxpayer information with a wider range of government agencies.
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.
Discovery Connect acts against sales agents who manipulated clients’ policies
The Financial Services Tribunal hears the reconsideration applications brought by three of the 15 implicated agents.
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.
Funeral policy fraud: know how to protect yourself
While insurers say that the number of claims found to be fraudulent remains ‘stable’, funeral insurance continues to attract a high incidence of fraud and dishonesty.
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.
Man who married four wives loses claim to 50% of his first wife’s pension interest
The first wife bought wedding dresses for the third and fourth wives, but this did not prove that she consented to the marriages.
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.
Two defective intention notices scupper representative’s debarment
FNB argued the Tribunal should accord greater weight to the severity of the rep’s misconduct than to ‘procedural mis-steps’.
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.
