Time is running out for new accountable institutions to register with the FIC
The amendments to Schedule 1 of Fica mean more individuals and businesses have, by definition, become accountable institutions.
FSCA gears up for tougher enforcement as scams and misconduct rise
From funeral policy breaches to crypto non-compliance and weak AML measures, the regulator’s latest report outlines its key priorities – with online harm topping the list.
Latest Fica amendments: 5 key takeaways for accountable institutions
New requirements include the identification of ultimate beneficial owners and beefed-up risk management and compliance programmes.
Monday briefing: a round-up of recent financial services news
Ruling on written-off car | Grid failure exclusions | Residential solar CoC | Coronation judgment implications | Grey-listing risk
Sanlam has a plan for SMME employers who want to provide retirement and risk benefits
The minimum contribution depends on whether a member opts for a retirement benefit only or retirement and insured benefits.
Is a basic income grant now ‘baked in’?
The challenge facing Treasury is financing a permanent grant while maintaining a commitment to fiscal consolidation.
Balloting exemption when CIS portfolios are amalgamated now in effect
FSCA says giving investors in a targeted portfolio an opportunity to object will not effectively nullify the exemption.
Sars is clamping down on non-compliant tax advisers
What tax professionals should do if they unintentionally find themselves on the wrong side of Sars.
Don’t stop paying tax, vote for a better government, says Sars commissioner
Edward Kieswetter also shares his views on tax breaks for home electricity generation and a wealth tax.
Why the tribunal didn’t send this debarment decision back to the FSP
FST’s decision reveals a litany of problems with the procedure followed.
BrightRock squashes rumours about ‘hidden reason’ for Sanlam buy-out
BrightRock paid out over a billion rand in claims in 2022, which was more than the total claims paid in its first seven years in the market.
Which medical scheme has the most satisfied members?
Survey compares Bestmed, Bonitas, Discovery, Medihelp and the Government Employees Medical Scheme.
Key individual asks for R500k fine and five-year debarment to be reconsidered
Applicant argues that non-compliance is not a contravention when the law does not provide for a penalty.
Grave concern about increase in senior citizens applying for debt counselling
Instead of making provision for retirement, they are servicing debt.
Disputes with Sars: can you raise new grounds of objection?
Taxpayers should formulate comprehensive grounds of objection and appeal from the beginning of the dispute resolution process.
South Africans aren’t receiving proper financial advice when they need it most
Survey finds most wish they had treated money as a growth asset when they were younger.
Consumers relying on unsecured loans as inflation and interest rate increases bite
Cash-strapped South Africans spending more on essential items such as food at the expense of insurance products, says DebtBusters.
BrightRock will remain a separate division after Sanlam acquires full ownership
Also, the group’s fiduciary business will be sold to Capital Legacy Solutions, in which Sanlam will have a have a 26% stake.
