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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.
FSCA wants to update retirement funds’ reporting requirements urgently
The amendments to regulation 28 of the Pension Funds Act take effect on January 3.
Clients need to be reminded of the long-term benefits of risk cover
Intermediaries can help clients to understand the implications of losing their protection.
CMS’s proposed medical scheme levy for 2023/24
It is markedly higher than the increases over the past three financial years.
Health Squared provisional curatorship extended again
Curator’s answers to members’ questions are available online.
Ombud Council is becoming a reality
The effective functioning of the office will contribute to a fairer deal for all.
Proposal to make it easier and cheaper to wind up retirement funds that decide to go into liquidation
The exemption does away with the R50 000 average-benefit-per-member threshold and caps the membership threshold at 100.
Our webinar will explain your data retention obligations
Holding personal information ‘just in case’ isn’t good enough.
Why BrightRock is phasing out its tied-agent network
The life insurer says the channel was never intended to be a long-term term undertaking.
‘No undue delay’ in bringing civil claim against bank employee linked to R79m fraud
Pension Funds Adjudicator also failed to appreciate the prospect that Absa’s civil claim would succeed, says the tribunal.
KeyHealth fails in bid to revoke agreement with healthcare brokerage
None of the events stipulated for triggering the termination of the agreement had taken place, Supreme Court of Appeal finds.
Fisa calls on banks to focus on bank accounts of clients who have passed away
Practitioners can get authority from the Master’s Office within weeks but battle for months for a response from some of the banks.
Crypto assets as a financial product: what are the exchange control and tax implications?
It’s possible that, at some point, providers of crypto asset services will be required to submit third-party data to Sars.
Funeral insurance – a product for the poor, or is it?
Statistics indicate that 42% of South Africans had funeral cover in 2021, down from 53% in 2019. This is surprising considering that the pandemic increased claims, as well as people’s fear of death, the world over and significantly impacted the funeral insurance market and the claims environment.
Insurance gap increases only slightly, but not for a good reason
SA’s 14.3 million income-earners have enough life and disability insurance to cover only 45% of their total insurance needs.
10% off your fees if you register with MBSE before 12 December
This special offer applies to five of MBSE’s qualifications in 2023.
How much more income-earners must spend to close the insurance gap
Alternatively, how much less households will have to spend following the loss of a breadwinner.
