International comparisons suggest there’s scope for local advisers to lift fees above 0.5% of AUM, says Mark Polson of UK consultancy The Lang Cat.
The Tax Administration Act (TAA) permits the warrantless search and seizure of a taxpayer’s property by the South African Revenue Service (Sars). However, this has been under scrutiny for many years because of […]
FSPs will pay 5% more in levies in the 2022/23 levy year than they did in 2021/22, as the FSCA has rejected calls from some stakeholders to implement a lower increase. Our columnist, […]
The bid by the Council for Medical Schemes (CMS) to strike a deal with seven open medical schemes, plus the Government Employees Medical Scheme, to on-board members of Health Squared without underwriting and […]
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
In last week’s Moonstone Monitor, we published an article titled “FSCA publishes notices issued to FSPs for Fica non-compliance”. The article stated that the FSCA had informed subscribers to its communications that it […]
Conducting raids on the premises of the eight life insurers under investigation by the Competition Commission for alleged collusion and price-fixing did not mean that all of them were guilty, Fin24 reports Commissioner […]
The South African Reserve Bank (Sarb) has asked legal advisers to President Cyril Ramaphosa to respond by September 8 to requests for further information as it probes the theft of foreign currency from […]
An Alberton mom has won a significant court battle against her medical scheme, forcing it to pay for an expensive drug that her three-year-old son needs to treat a rare inherited genetic disorder. […]
A number of government departments, and law enforcement and prosecution agencies are piloting an initiative which they say will make it more cost effective, faster and easier to investigate and recover assets acquired […]
The FSCA this week announced it has fined KEB Prosperity (Pty) Ltd R50 000 for contravening the FAIS Act for three months of last year. In a statement, the Authority said an investigation found […]
The Western Cape High Court has ordered an FSP to pay an executor the balance due on a loan of R1 million, plus costs, after rejecting the company’s defence that its obligations in […]
General Notice 1258 of 2022 – Levies on Financial Institutions was published on 29 August and effectively put paid to any further concessions from the regulator to alleviate the plight of an industry […]
The process to address deficiencies in the country’s anti-money laundering and anti-terrorism financing legislation got under way this week after Minister of Finance Enoch Godongwana tabled the General Laws (Anti-Money Laundering and Combating […]
Information received “from one of the players in the industry” prompted the Competition Commission to launch its investigation into alleged price fixing by some of the country’s major life insurers. This was all […]
The Financial Intelligence Centre (FIC) will work with entities that become accountable institutions in terms of the amendments to the Financial Intelligence Centre Act (Fica), to help them bed down compliance with the […]
The JSE has disqualified Steinhoff’s former chief financial officer, Ben la Grange, from acting as a company director for 10 years and fined him a total of R2 million. La Grange served as […]
The Council for Medical Schemes (CMS) has published its version of the sequence of events that resulted in Health Squared’s finances deteriorating to the extent that it will apply for voluntary liquidation this […]
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