Tribunal’s ruling highlights a principal officer’s reporting obligations
The decision highlights numerous irregularities at the Private Security Sector Provident Fund that were not reported to the FSCA.
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
Weather and power surge claims hit Santam’s underwriting profits
Loadshedding, inflation, and high interest rates are squeezing consumers’ finances.
Reminder of 31 May deadline to submit a return to the FIC
This applies to legal practitioners, company and trust service providers, estate agents, and casinos.
Health insurance benefit increases for 2023 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
Data breach: Department of Justice issued with enforcement notice
The Information Regulator found that several cybersecurity software licences had lapsed or had not been updated timeously.
The two banks with the biggest increase in complaints in 2022
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Thursday briefing: a round-up of recent financial news
Real incomes down 4pp | Push to sanction non-disclosure of beneficial ownership | Cell captive plan for expensive medical treatment
FSCA releases amended exemptions for crypto asset FSPs
The Authority has changed its mind about the requirement to have a recognised qualification.
FST ruling has ‘far-reaching implications’ for trustees, principal officers, says FSCA
The decision sets out how PSSPF board members racked up fees for meetings and ignored the fund’s procurement policy.
FIC provides case studies, red flags to help you detect money laundering
Any business that fails to report ‘suspicious and unusual transactions’ faces harsh penalties.
Sasria’s chief executive addresses grid-collapse exclusion
It will decide by the end of the month whether to reintroduce the exclusion.
Conduct standard published on retirement fund investments in derivatives
The FSCA has published a conduct standard setting out the conditions for retirement funds to invest in derivatives.
Liberty: cancer displaces Covid as leading cause of claims
Statistics indicate a rise in income protection claims resulting from diagnoses for mental and behavioural disorders.
Investors who lost money with Classic Financial Services One urged to lodge claims
About R19 million will be forfeit to the state unless exclusion applications are upheld.
Brokers, clients looking for contract certainty with grid-collapse exclusions
SAIA is concerned about consumers’ perceptions of the insurance industry as covers are removed but premiums increase.
Need CPD points fast? MBSE has the right course for you
And applications are now open for the second semester.
Wide range of non-financial businesses now have Fica obligations
A ‘high-value goods dealer’ means any business that sells goods with a price tag of R100 000 or more.
