Individual policyholder funds with assessed losses face higher tax bill
How the limitation on setting off assessed losses against taxable income affects life insurers and policyholders.
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.
Reminder: conduct standard on retirement fund contributions is now in effect
Conduct Standard 1 of 2022 aims to help eradicate non-payment of retirement fund contributions by employers.
This is SA’s cheapest bank if you transact completely online, according to Solidarity’s survey
The report also compares the cost of banking at Absa, Capitec, First National Bank, Nedbank, and Standard Bank.
Monday briefing: a round-up of recent financial services news
Pawn-while-you-drive warning | Guardrisk insurtech platform | OM buys digital wills start-up | Investec outperforms Alsi
Severance pay isn’t compulsory if you are retrenched for operational reasons
At issue: did the retrenching employer’s efforts secure alternative employment for the retrenched employees?
‘Bleak’ outlook for SA Post Office medical scheme
Financially threatened MediPos is placed under provisional curatorship
ChatGPT: a useful tool or risk for lawyers?
One can foresee that lawyers who have taken the time to understand ChatGPT will be able to utilise it for everyday tasks.
Santam clarifies the impact of grid failure exclusion on power surge cover
The intention of the grid failure exclusion is not to cancel power surge cover, the insurer says.
What insurers’ grid failure exclusions mean for clients
Advice from a qualified intermediary on how to interpret an insurer’s policy wording is essential.
MBSE’s student numbers are up despite harsh economic climate
Applications for the second semester of 2023 are already open.
What’s ‘new’ in the PA’s directive relating to Fica and life insurance beneficiaries?
Three things to note when it comes to customer due diligence and assessing money laundering and terrorist financing risk.
Discovery links up with Clicks to bring health insurance to the mass market
What are the benefits, premiums and waiting periods?
Thursday briefing: a round-up of recent financial services news
SA unit trust returns | Flood claims | Santam profits warning | Insuretech raises $17m | Sanlam-AfroCentric deal | Business account fees.
New green energy fund offers investors a tax break of up to 100%
As with the similar section 12J investment incentive schemes, the barrier to entry is high.
Investigation into N-e-FG Administrators is ‘at an advanced stage’
FSCA has taken steps after considering the statutory manager’s report.
FSCA finally pulls the plug on alternative stock exchange
Following ‘prolonged non-compliance’ with the liquidity and capital adequacy requirements.
You can’t be fired just because you’re unpopular, court says
Labour Appeal Court rules that Standard Bank branch manager must be reinstated.
