More, mostly positive, changes to enhance the alternative dispute resolution process
Questions remain whether the automation of certain procedures will have the desired results.
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.
SA at risk of becoming a failed state if the economy isn’t turned around soon’
Incoming Nedbank chairperson says ‘we are already on borrowed time’.
Big increase in damage to appliances and food spoilage because of blackouts
Loadshedding is having a more severe impact on consumers compared to a year ago, survey finds.
Three cases where the banking ombudsman helped consumers
In one case, the OBS’s intervention resulted in the bank cutting its executor’s fees by 50%.
Five things property sellers should know before transfer
Avoid unnecessary delays and penalty interest, and ensure the transfer goes through smoothly.
Santam introduces power surge excesses and exclusions as claims jump
What policyholders should know about the general exclusion for damage caused by electricity grid failure or interruption.
Rep debarred for sharing client information while on garden leave
She alleged the evidence of her conduct was obtained through an ‘unlawful search’ of her personal email account.
Treasury publishes draft legislation on renewable energy tax incentives
Grey areas remain when it comes to the rebate for residential solar panels.
How the latest Companies Act amendments affect your business
Companies have broader obligations to keep records of persons with beneficial interests in their securities.
FSCA imposes R2.5m fine for unauthorised derivatives trading
About R1 million in investors’ funds was misappropriated.
Solar installers to join Sars’s list of third-party data providers
Sars will not only be able to verify who qualified for the rebate, but also who had the money to instal solar panels.
Fica employee screening must take account of labour laws and Popia
A deeper look at what accountable institutions must do to comply with the Financial Intelligence Centre’s directive.
FSCA clarifies which trading activities require a licence
The declaration of crypto assets as a financial product does not affect financial services rendered in relation to crypto asset derivatives.
Unpacking the changes to the retirement fund lump-sum tax tables
It’s important to understand the access you have to your retirement fund savings, as well as the calculations used, to avoid an unexpected tax bill.
FSCA warns of strong action against entities if Servcos contravene financial laws
Several investigations are looking into possible regulatory breaches by insurers, the Authority says.
FSCA releases report on debarments and other regulatory actions in 2022/23
Concern over the ‘alarming’ number of cases involving the submission of fictitious policies to insurers.
‘No room for doubt’ about a key individual’s responsibilities
Case of Smart Billion highlights what is expected of KIs, says FSCA.
