Simplifying PMBs to empower smarter client decisions
The second edition of our bi-weekly column unpacks Prescribed Minimum Benefits – what they are, which conditions they cover, and how they work in practice.
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.
Funeral provider racks up 12 FAIS Ombud rulings against it
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Court upholds R200 000 fine on dealership for ignoring compliance notice
The judgment makes it clear that remedies under the CPA – refund or replacement – are enforceable and cannot be frustrated by delay or technical objections.
50% surge in employers in arrears with retirement contributions
Unpaid contributions rose to R7.29bn, and 62% of delinquent employers are in the motor and private security sectors, according to FSCA data.
What the FSCA and retirement funds are doing to tackle arrears
Commissioner Unathi Kamlana is confident that within two years, arrears could be far less of a systemic problem.
Pensions adjudicator seeks big levy increase in 2026/27
The OPFA says it needs to take on more staff to handle the significant increase in the number of complaints.
Unauthorised policies falsely attributed to a junior accredited rep
The Tribunal confirms Assupol’s decision to debar a representative after forensic evidence showed he advised on life policies while unauthorised.
Roadworthiness is essential for valid insurance claims, Ombud warns
While insurers can decline claims involving unroadworthy vehicles, repudiations must be linked to the cause of the loss.
Asset forfeiture and unlawful money schemes
Fraud victims have two distinct remedies: criminal-law-driven asset forfeiture via the Prevention of Organised Crime Act and civil liquidation proceedings under the Companies Act.
Alexforbes launches umbrella fund solution: Alexforbes One
Alexforbes has launched Alexforbes One, a new umbrella fund aimed at providing a unified solution for employers, intermediaries, and members.
What SA’s two-pot system can learn from international retirement models
Examining international retirement models reveals key lessons, from managing early withdrawals to ensuring disciplined investing and the critical role of financial advice.
AI-driven plans reinforce the value of financial advisers
Advisers can highlight their human edge by spotting common gaps in AI-generated DIY plans, from overconfidence in returns to blind spots in risk protection.
FSPs sanctioned for FICA failures – fines totalling R700 000
The FSCA found both firms lacked effective risk management capabilities, including deficient RMCPs, poor customer due diligence, and failures to screen against the sanctions lists.
RAF commits to clearing backlog of outstanding claims
The interim board says the Fund will prioritise claims older than 180 days, estimated at more than R20 billion.
Laser scar therapy can be a recoverable medical expense
The High Court’s ruling clarifies that clinically necessary cosmetic interventions can be recognised as legitimate past medical expenses in personal injury claims.
Trustees sue auditors for R147m over alleged N-e-FG fund mis-investment
The trustees allege Forvis Mazars failed to detect that retirement fund money was not invested according to mandates.
FST upholds debarment over ‘ghost caller’ policy
The evidence accumulated by Momentum supported its finding that the agent lacked honesty and integrity.
