South Africans aren’t receiving proper financial advice when they need it most
Survey finds most wish they had treated money as a growth asset when they were younger.
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.
Consumers relying on unsecured loans as inflation and interest rate increases bite
Cash-strapped South Africans spending more on essential items such as food at the expense of insurance products, says DebtBusters.
BrightRock will remain a separate division after Sanlam acquires full ownership
Also, the group’s fiduciary business will be sold to Capital Legacy Solutions, in which Sanlam will have a have a 26% stake.
What trustees should know about the amendments to the Trust Property Control Act
Among other things, trustees are obliged to keep adequate records in relation to beneficial ownership.
Easier winding-up process for retirement funds that decide to go into liquidation
FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.
FSCA fines Globex for unauthorised ODP activities
The contraventions were a result of a misinterpretation of the legal position.
High Court rules on the inclusion of ‘on the road’ fees in credit agreements
National Credit Regulator wanted three vehicle finance houses to refund consumers OTR fees and interest charged since 2007.
Moonstone Group extends condolences to the family of Ainsley Moos
The chairperson of Stellenbosch University’s council was also a director on Moonstone’s board.
FSCA grants another extension for exemption on payment for collecting premiums
An independent intermediary must be authorised by the insurer to engage in ‘direct collection of premium’ activities.
Conveyancing attorney liable for R1.4m after fraudster intercepts email
Attorney also sought an order holding Standard Bank liable if the court found that he had to pay the respondents.
FIC to host free webinar on money laundering and terrorism financing risks
The workshop will focus on identifying, monitoring, mitigating and managing risks.
Sanlam pays tribute to ‘titan’ Desmond Smith
It says Smith played a key role in laying the foundation for the financial services group as it currently exists.
Is business email compromise also a threat to advisers?
The recent findings against prominent legal persona might be a timely warning for the financial services industry to take preventative action.
Should you use your excess savings to pay your mortgage or invest in the stock market?
How your wealth would have changed over the past 20 years if you had implemented various strategies
Pension Funds Adjudicator cannot enforce court orders
Applicant obtains High Court orders to get her share of ex-husband’s pension interest.
Your child can receive a retirement income of R80 000 a month in today’s money, says asset manager
Coronation illustrates how you can use a tax-free investment to harness the power of compounding.
What employers and employees should know about retrenchment
Employers are obliged to consult with employees before a final decision is made on retrenchment.
