Godongwana reassures Ithala’s depositors with R2bn guarantee
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
OMNI-CBR will be embedded in new supervisory technology platform
Financial institutions are advised to pause their internal Conduct of Business Return initiatives pending further communication from the FSCA.
High Court upholds surety deed despite electronic signature hurdles
The decision in favour of Momentum Metropolitan Life affirms the importance of substance over form in electronic surety agreements.
The effective use of disclaimer notices and clauses to exclude liability
Recent cases reaffirm that disclaimer notices must be prominently displayed and clearly worded to be enforceable, ensuring that consumers are adequately informed of their rights and risks.
Treasury and SASSA granted leave to appeal ruling on SRD grant
‘Due to the complexity and seriousness of this case … it deserves the attention of the Supreme Court of Appeal,’ says Judge Leonard Twala.
SA’s path beyond the grey list: key challenges and opportunities ahead
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
Customer complaints: FSCA tells banks to raise their game
A review finds significant lapses in the banks’ complaint management – from inconsistent categorisation to poor record-keeping and communication.
Legal battle over Ithala’s future heats up as liquidation looms
The PA and the repayment administrator accuse Ithala of operating unlawfully – comparing its actions to a Ponzi scheme. Ithala argues the freezing of depositors’ accounts is a calculated manoeuvre designed to collapse its operations.
Old Mutual’s operating profit up 4%, led by Insure and Investments
Exceptional underwriting in Old Mutual Insure and a 37% jump in Investments drive overall strength, but Corporate’s life insurance sales slumped 42%.
Enhanced underwriting and pricing drive Old Mutual Insure’s performance
The operating profit more than doubled in 2024, while gross written premiums increased by 9%.
Steinhoff’s shadow still looms over Pepkor as SARB freezes shares
The SARB freezes 506 million Pepkor shares held by Ainsley, a subsidiary of Ibex, which took over Steinhoff’s assets and liabilities following its liquidation.
High Court upholds Discovery Life’s decision to void policy
The policyholder inflated her earnings and failed to disclose a simultaneous application with another insurer, materially affecting the risk assessment.
FSCA ponders regulatory enhancements for ESG investing
A survey indicates that while a majority of investment providers incorporate ESG considerations, hurdles such as inconsistent ratings and greenwashing remain.
FIC opens consultation on updated IFTR guidelines
The Financial Intelligence Centre (FIC) has issued published Draft Directive 3A and Draft Public Compliance Communication 50A for public consultation.
Tariffs & markets | Why I’m increasing my risk budget
Market movements since Donald Trump’s inauguration are drawing comparisons with the 2018/19 trade war. With a 10% loss already, another 10% dip could be on the horizon if the economic fallout worsens.
Higher VAT will impact business operations and consumer spending
The Minister of Finance cites an average 19% VAT among peers to argue that South Africa’s 15% rate is low, but isolated comparisons miss key factors such as exemptions, corporate rates, and overall business costs.
VAT hike | Guidance for businesses on supply rules and timing
How the general and specific time-of-supply rules will determine whether transactions fall under the existing 15% VAT rate or the increased rate.
Life insurer debars rep who ‘went off-script’ during sales call
The agent repeatedly deviated from the approved product script. Previous warnings and documented missteps played a key role in the decision.
