Tribunal: A fund’s rules control savings component withdrawals
The fund would be acting ultra vires if it paid a savings withdrawal while the member’s and employer’s contributions remained unpaid.
Classic Financial creditors see first dividend, just over 6%
The initial payout returns roughly 6 cents on the rand to creditors, with legal costs taking a large slice – but further recoveries may change the final dividend.
Grocery store liable for shopper’s injuries despite disclaimer notices
A High Court ruling has confirmed that retailers can’t rely on disclaimer notices alone to avoid liability for customer injuries.
NHI Act | Sakeliga opposes Health Minister’s stay-and-consolidate application
The business group says the proposed stay will shield the Act from judicial review while allowing implementation to continue.
Why using the correct IRP5 source code matters for SA expats
Incorrect source codes trigger unnecessary tax for hundreds of expatriates. The result is lost refunds or large tax bills.
A puzzle of debt: former RAF CFO questions rationale for accounting shift
The Road Accident Fund’s former chief financial officer says even he struggled to understand why the Fund changed its accounting standard.
Infrastructure investor fined R1.7 million for FICA breaches
The FSCA identified serious lapses in Harith General Partners’ risk management, client due diligence, sanctions screening, and employee vetting.
MBSE’s Virtual Open Days include new BCom in Financial Management
Across three days in November, aspiring and current financial services professionals can explore MBSE’s suite of accredited qualifications.
Non-life insurers deliver strong performance in 2024 – KPMG survey
Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.
SA’s economic future looks bleak without reforms, global resilience index warns
South Africa’s relatively high-risk score reflects governance, security, and structural weaknesses, while its moderate resilience suggests the potential to recover – if reforms are pursued.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
SARB sanctions money transfer service for FICA non-compliance
The South African Reserve Bank cites deficiencies in Access Forex’s RMCP, customer verification, and staff training.
ASSA launches national Climate Index to guide risk management
South Africa now has a publicly available Climate Index, developed by actuaries and meteorologists, that tracks extreme weather events.
SA’s pension system holds firm on governance, falters on inclusion
The latest Mercer Global Pension Index says governments worldwide are attempting to steer private retirement fund assets into development goals.
SARB seizes vehicles and personal effects from Markus Jooste’s estate
The South African Reserve Bank declares five vehicles, jewellery, and art from the estate forfeit under the Exchange Control Regulations.
SCOPA presses former RAF CEO for firm commitment to appear before inquiry
SCOPA has issued a final call for former Road Accident Fund CEO Collins Letsoalo to confirm his attendance at its oversight inquiry, warning that a subpoena may follow if he fails to commit.
Parabolic gold: risk/reward is too high
Reduced available mine supply and massive ETF flows have driven a parabolic gold rally that is pushing the asset beyond traditional defensive risk/reward thresholds.
SCA: Bank’s settlement agreements circumvented the NCA’s protections
The Supreme Court confirms that any post-default restructuring of NCA-regulated loans must comply strictly with the Act.
