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.
Ithala pulled back from the edge, but its future remains in doubt
The Prudential Authority has withdrawn its liquidation bid after progress on depositor repayments, but Ithala is still unlicensed and cannot resume deposit-taking.
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.
How SA’s insurance scheme for bank deposits will work
Secondary legislation is required for the Corporation for Deposit Insurance to become operational in 2024.
What are the statutory obligations of dormant companies?
A failure to file tax returns may result in penalties, for which the directors may be held personally liable.
A deeper look at the solar panel tax incentive for individuals
There are a number of grey areas that the draft legislation will (hopefully) clarify.
Agreement between Absa, clients not lawful in terms of the NCA, judge finds
At issue: was the acknowledgement of debt/power of attorney a supplementary agreement?
FSCA publishes report on project to deregister retirement funds
Authority says mistakes were made, but they were rectified.
Monday briefing: a round-up of recent financial services news
Bank staff allegedly helped gold smugglers | FIC gets forensic unit | Ramaphosa on exiting the grey list | OUTsurance boosts stake in Youi
Are you really getting an extra R50 000 at retirement?
The impact of the 10% adjustment to the lump-sum retirement benefits table may be less than you think.
Another big win for Satrix at awards for index-tracking funds
Its exchange-traded products won four Saltas for investment performance, as well as the People’s Choice Award.
Competition Tribunal rules it can hear currency manipulation case against banks
Nine more banks have been added to the case.
