Nedbank takes consumer to court for not disclosing vehicle’s location
The buyer returned the second-hand car to the dealership, which was in a dispute with the person on whose behalf it sold the car.
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.
Adjudicator calls out employer for abusing Covid contribution concession
Some employers have been deducting higher amounts from employees’ salaries while remitting a lower amount to the fund.
FSCA fines forex trader R100 000 for breaking ODP regulations
The Authority takes regulatory action against JP Markets again.
Financial advisers can help keep the lid on clients’ retirement-savings pots
One of the first steps when advising clients on the pending two-pot changes is to get a clear view of their overall retirement-funding portfolio.
Harsh penalties for trustees for non-compliance with new reporting requirements
The offences relate to not recording information about beneficial ownership and service providers that are accountable institutions.
Sell in May and go away?
An analysis of whether the trading strategy of selling in May and buying back later in the year succeeds.
New tax clearance process for emigration and remittance of funds abroad
‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’
‘Raft of financial sector legislation coming in the next 3 to 5 years’
FSCA wants to step up market surveillance to combat insider trading and price manipulation.
Update: Sasria U-turn on cover for damages related to electricity grid collapse
Companies should consider drawing up disaster management plans.
Former members of deregistered funds won’t pay tax on bulking payments
Exemption is the last opportunity to rectify the error, National Treasury says.
Monday briefing: a round-up of recent financial news
Busa lobbies for medical schemes under NHI | Few equity funds beat Alsi | High-targeting absolute return funds underperform | RAF to approach ConCourt over Discovery ruling | ‘Windfall tax’ from loadshedding | Alexforbes acquires stake in TSA
Debarment for being paid a referral fee by a competitor not justified, says FST
The employer did not point to a single provision in the FAIS Act, or any other legislation, that prohibits this.
Administrator contests Adjudicator’s determination in dispute over loss of members’ benefits
Moriting Wealth Managers was not given an opportunity to state its case before the final determination was issued.
Vital ‘ingredient’ missing in Old Mutual’s notice of intention to debar
The applicant was ‘left to guess’ the factual allegations on which the intended debarment was based, tribunal says.
When is it too late to submit a complaint to the Osti?
Ombudsman can only condone non-compliance with a policy’s time-barring provisions if the insured shows good cause.
The adviser’s role in helping to create a lasting financial legacy
In tough times, it is important to think of your family’s future, and nothing says ‘prepared’ better than drafting your will timeously, planning your estate and leaving a proper wealth succession plan. 1Life launches its latest estate planning product offering.
Settlement agreement with representative sinks FNB debarment
That the parties entered the agreement after the notice of intention to debar had been sent was highly relevant.
