‘Worrying trend’ in medical schemes’ membership profile
Alexforbes report also shows that contribution increases have outstripped CPI inflation over the past 22 years.
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.
Tribunal may accept late reconsideration applications if good cause is shown
This case is an example of what good cause is not.
Thursday briefing: a round-up of recent financial services news
FNB to expand adviser network | Extending mortgages to fund solar unwise | Bank staff sentenced for fraud | ANC-EFF coalition ‘worries investors’
R600m dividend: Eskom’s insurance captive asks for fine to be reconsidered
The board’s rushed decision, based on unaudited interim figures, put the shareholder’s interests above those of the policyholders, tribunal says.
Most schemes rely on investments to achieve a net breakeven result – report
Do their highly conservative investment strategies pose a threat to their long-term sustainability?
FIC issues guidance note on electronic funds transfers
How accountable institutions must apply the SA Reserve Bank’s directive of 2022.
Latest repo rate hike improves SA’s attractiveness for investors
Domestic interest rates are one of the most important drivers of foreign capital flows into the country.
Former SAA board member barred from practising as a CA and fined R6.1m
The Zondo report said Saica should investigate whether Yakhe Kwinana was suitable to work as a chartered accountant.
FSCA drops proposed minimum B-BBEE Level 4 requirement
Authority publishes the final version of its strategy to promote transformation in the financial sector.
MBSE will help you fulfil your CPD requirements
And MBSE’s updated Fica Awareness Short Course is the ideal way to get to grips with your organisation’s compliance obligations.
Discovery must pay R25m to ex-stockbroker who suffered mental breakdown
The life insurer acted unreasonably when it did not consider reports on the man’s incapacity after his policy expired, judge says.
Tribunal sets aside debarment of consultant who changed record of advice
The far-reaching implications of debarment were not justified in the circumstances, the FST finds.
Trustees are in contravention of beneficial ownership regulations, says FISA
Trustees cannot be expected to have all the information within a few hours of the gazetting of the final regulations, it says.
SAPS breached Popia after rape victims’ personal info appears on social media
The police said the WhatsApp message was to alert stations of the serious crime, but it leaked from its ‘intended communication channels’.
FSCA publishes draft conduct standard on financial education
Among other provisions, financial education must not be used as a guise for marketing.
FIC issues employee screening directive to accountable institutions
They must also check whether prospective and current employees are the subject of United Nations sanctions.
Certain accountable institutions must complete risk and compliance returns
There are different deadlines, depending on whether the entity became an accountable institution before or after December 2022.
