Non-financial businesses ‘a key priority area’ for Financial Intelligence Centre
The FIC’s intelligence reports contributed to the recovery of more than R5.8bn in criminal proceeds in 2022/23.
RAF faces claims surge if form falls
SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
Discovery Health’s 2024 contribution increases await green light from CMS
There are concerns that members with Saver plans will experience severe cuts to the allocations to their medical savings accounts.
FSCA welcomes decision to uphold revised R20m fine on Markus Jooste
‘Conduct of this kind undermines public confidence in financial markets and leads the general public to believe that the system is rigged and unfair,’ Tribunal says.
Uncertainty over ‘place of supply’ rules for cross-border transactions
Place of supply rules are becoming more important as transactions become increasingly digital and supply chains become more complex.
Global crime index reveals ‘significant expansion’ of financial crimes
South Africa has the seventh-highest criminality score in the world and the third-highest in Africa, according to the Global Organized Crime Index.
How SA employment laws are promoting the inclusion of women in the workplace
The discrepancies between the treatment of women and men in the workplace are to some extent decreasing, but women continue to experience barriers to retention and promotion.
Supreme Court of Appeal sends a clear warning about non-compliant group schemes
SCA rules on the dispute between KGA Life and Multisure that arose after the cancellation of the intermediary agreement.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Clash of the titans: medical scheme heavyweights announce 2024 contributions
Discovery Health, Bonitas, and Momentum Solutions say ‘increasing financial pressures’ are the reason for the contribution increases.
Former bank employee’s ‘good intentions’ not enough to avoid debarment
The Financial Services Tribunal hears another case involving a representative who ‘completed’ proof of address letter on clients’ behalf.
Discovery and RAF see latest High Court judgment differently
The High Court has dismissed the administrator’s second attempt to compel the Fund to resume processing medical scheme members’ claims.
Recordings of our Employment Equity Act webinars are available
Moonstone Compliance’s webinars demystify the Employment Equity Act.
Tribunal’s decision in Brite case highlights important principles, says FSCA
No way to ‘cure’ soliciting investments in unapproved foreign schemes.
Deadlines to complete new Trustee Training Toolkit’s first 11 modules
The FSCA plans to release the remaining modules in March 2024.
Bear market in VIX is over – investors are staring down the barrel
Investors are buying more put options than call options, which is driving up market volatility.
The FAIS Ombud has some good news for FSPs
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
RAF amendments ‘will result in higher medical scheme contributions’
The proposed liability exclusions in the Road Accident Fund Amendment Bill will hit medical schemes and short-term insurers hard, legal experts warn.
