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.
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
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’.
RAF amendments will severely curtail the rights of road accident victims, say experts
The draft legislation allegedly restricts a road accident victim’s right of access to the courts and does away with general damages compensation.
Law firm off the hook for R2.5m Ponzi scheme claim
Legal missteps in a substitution application have left a R2.5m claim against a law firm implicated in a 2010 Ponzi scheme dead in the water.
Boost your self-confidence with MBSE: 10 ways further study helps to build self-esteem
Unlock your potential for a career in financial planning with Moonstone Business School of Excellence’s Higher Certificate in Wealth Management.
‘T-Day’ provident fund members ‘should have to opt in to two pots’
Organisations representing the retirement industry call attention to the ‘problematic’ provisions in the draft legislation for the two-pot retirement system.
Adjudicator is studying judgment on late-payment interest on arrear contributions
There is a view that the High Court’s judgment means the in duplum rule does not apply to section 13A(7) interest.
Navigating a polycrisis landscape in South Africa
Thabile Nyaba, chief risk and sustainability officer at Old Mutual Insure, shares how the insurance industry can help South Africa to weather the economic and geopolitical storm.
Sars publishes important guides for taxpayers – including trusts
One of the guides applies to the Income Tax Return for Trusts.
RAF tells medical schemes regulator to butt out of its dispute with Discovery Health
The fund says there is an ‘unholy alliance’ between the Council for Medical Schemes and the administrator to ‘misinform’ medical scheme members.
‘Major disruptions’ ahead for vendors as Sars modernises its VAT administration framework
Vendors may have to acquire new software to be able to communicate with the Sars systems, or they may have to adjust their existing systems.
FSP debars representative for not returning a tablet
The fact that the applicant did not sell any products or receive remuneration did not nullify his status as a representative.
Taiwan – a country preparing for a possible war
With 12 038km between South Africa and Taiwan, the East Asia island’s woes as it prepares for a possible invasion by mainland China might seem far removed. However, should their ‘non-provocative’ cross-strait policy fail, the fallout will shake the world.
Tribunal hands down decision in another MyMo accounts scandal case
Standard Bank debarred a branch team leader for using her own money to activate four accounts without the customers’ consent.
