CBI director fined R216 million and debarred for 10 years
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
Bonitas members caught in service disruption after administration switch
The medical scheme says legacy issues contributed to post-transition challenges as members report delays with hospital authorisations and medication approvals.
Unclaimed assets: FSCA will prioritise monitoring conflicts of interest
A new approach may be required to how financial institutions are remunerated for services rendered in respect of unclaimed assets, the Authority says.
Only days left to book for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
RAF’s legal rope nearing its end as High Court tells fund to pay R33 million
The recent ruling by the High Court underscores the Road Accident Fund’s obligation to reimburse medical scheme members for past medical expenses covered by the injured person’s medical scheme after a motor vehicle accident.
Stack up the evidence when claiming interest expenses
Taxpayers carrying on trade as an investment holding company should ensure they can demonstrate a high degree of involvement in the operations of the subsidiaries.
Old Mutual prepares to shake up banking sector with new bank
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
FIC issues guidance on what is ‘a high-value goods dealer’
A high-value good is an actual physical item, and facilitating the trade of high-value goods does not make one a HVGD.
New deadlines for completing the Trustee Training Toolkit
The FSCA has launched the second and final batch of the 22-module online course for board members of retirement funds.
Public warned against doing investment business with these entities
The unlawful impersonation of authorised FSPs to convince the public to part with their money is increasing.
Sam Bankman-Fried gets 25 years’ imprisonment for FTX fraud
The judge criticised Bankman-Fried for his lack of remorse and stated that he knew his actions were criminal.
Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
Rise in life policy uptake despite economic pressures
Lapses and surrenders fell slightly in 2023, while consumers purchased more risk and savings policies than they did in 2022.
Arrear contributions: 10 employers should not have been on the list
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
Financial watchdog cracks down on copy trading and fictitious policies
The FSCA reiterates that copy or mirror trading amounts to unlicensed discretionary FSP business.
Entities that don’t take clients’ data security seriously are playing with fire
Dis-Chem is in the clear. TransUnion was issued with an Enforcement Notice, and the Information Regulator is investigating the data breach at the CIPC.
Investigations uncover sale of funeral policies without underwriting
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.
