Supreme Court of Appeal sends a clear warning about non-compliant group schemes
SCA rules on the dispute between KGA Life and Multisure that arose after the cancellation of the intermediary agreement.
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.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Clash of the titans: medical scheme heavyweights announce 2024 contributions
Discovery Health, Bonitas, and Momentum Solutions say ‘increasing financial pressures’ are the reason for the contribution increases.
Former bank employee’s ‘good intentions’ not enough to avoid debarment
The Financial Services Tribunal hears another case involving a representative who ‘completed’ proof of address letter on clients’ behalf.
Discovery and RAF see latest High Court judgment differently
The High Court has dismissed the administrator’s second attempt to compel the Fund to resume processing medical scheme members’ claims.
Recordings of our Employment Equity Act webinars are available
Moonstone Compliance’s webinars demystify the Employment Equity Act.
Tribunal’s decision in Brite case highlights important principles, says FSCA
No way to ‘cure’ soliciting investments in unapproved foreign schemes.
Deadlines to complete new Trustee Training Toolkit’s first 11 modules
The FSCA plans to release the remaining modules in March 2024.
Bear market in VIX is over – investors are staring down the barrel
Investors are buying more put options than call options, which is driving up market volatility.
The FAIS Ombud has some good news for FSPs
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
RAF amendments ‘will result in higher medical scheme contributions’
The proposed liability exclusions in the Road Accident Fund Amendment Bill will hit medical schemes and short-term insurers hard, legal experts warn.
Book now for Moonstone’s FICA compliance webinar in October
The free webinar will equip you to follow a risk-based approach to compliance, as required by the Financial Intelligence Centre.
FSCA publishes draft 2024/25 budget for comment
In line with previous financial years, FSPs will be the main contributors to the Authority’s revenue from levies.
FAIS Ombud budgets for more levy income despite 0% increase
The Office can no longer look to the FSCA to make up for any shortfalls in income.
Ombud Council’s 2024/25 budget reflects shift to operational independence
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
FSCA confirms withdrawal of Salt Asset Management’s licence
The Authority conducted an inspection on the company last year following allegations of its potential involvement in money-laundering activities.
Two pots: MPs agree with Cosatu that R25 000 cap on seeding is too low
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
