FSCA imposes R2.5m fine for unauthorised derivatives trading
About R1 million in investors’ funds was misappropriated.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
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.
FSCA has applied to the High Court to overturn tribunal’s Viceroy decision
The penalties imposed by the Authority on Viceroy and Markus Jooste came to R211 million.
Regulatory exam fraud is rife, says FSCA
Moonstone will check the authenticity of a certificate if provided with written consent.
Now Hippo is taking exception to a social media advert
The assertions by competitor Everything.Insure are misleading and defamatory, the insurance aggregator says.
Ombud uses logical inferences to conclude that driver was reckless
The insurer must prove on a balance of probabilities that the insured recognised the danger and proceeded with his course of action.
FSCA provisionally withdraws Salt Asset Management’s licence
The Authority is looking into allegations that the company was involved in money laundering.
RAF wants to take its case against Discovery to the Constitutional Court
The fund has not resumed paying the past medical expenses of scheme members injured in motor vehicle accidents.
Beneficial practices for taxpayers and tax practitioners remain … for now
They concern two deductions: non-business-related interest expenses and fees paid to tax practitioners for completing tax returns.
‘New’ and ‘old’ accountable institutions must comply with the provisions of Fica
Sanctions can include a fine of up to R10 million in respect of a natural person and R50m in respect of a legal person.
What retirement funds pay their board members and principal officers
PwC survey finds that 74% of funds are now paying some or all their board members, up from 47% in 2020.
