Draft Bill hides a ‘stealth tax’ in your unit trust investments
Proposed amendments could undermine the tax-efficient compounding that makes a collective investment scheme an attractive investment vehicle.
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.
Provisional curator to advise on future of medical scheme
The curator will assess Sizwe Hosmed’s finances and recommend whether it should merge, be liquidated, or continue.
Client’s ‘substance-induced’ U-turn fails to convince Tribunal
The client initially swore to non-consent, but in a second affidavit he said drugs clouded his memory, insisting he was present when the policies were initiated.
Influencers in the tax net: SARS clarifies approach to digital income
Remuneration extends beyond cash payments – products, services, and travel perks must also be declared as taxable income.
Sanlam’s new business up 7% as insurance and inflows offset flat life sales
The net result from financial services grew by 20% to about R8.08bn, with general insurance the standout in the six months to the end of June.
Navigating double taxation agreements in retirement planning
DTAs shape the taxation of lump sums and annuities. This is what financial advisers can do to preserve clients’ retirement benefits.
New report maps insurance risk patterns, urges shift to proactive strategies
Standard Insurance’s five-year analysis discloses the main perils affecting businesses and households, and when and why policyholders are most likely to claim.
Medical scheme hikes: CMS calls for restraint, but will schemes listen?
The Council for Medical Schemes recommends capping 2026 contribution increases at 3.3% plus “reasonable utilisation estimates”, yet past trends show schemes often push far higher.
‘Appropriate’ and ‘adequate’ – two words that will shape SA’s next FATF review
New criteria require closer supervisory scrutiny of DNFBPs on market entry, ongoing oversight, and high-quality suspicious-transaction reporting.
FSPs brace for tougher scrutiny as risk-based AML compliance takes centre stage
As South Africa prepares for a tougher FATF evaluation, FSPs must master risk-based compliance – balancing security, cost, and strong partnerships to target real threats and protect legitimate customers.
Used car dealer loses appeal over sale of defective vehicle
The High Court upholds a National Consumer Tribunal ruling that the dealer must refund the purchase price and pay a fine for breaching the Consumer Protection Act.
Santam’s GWP up 10% as international business surges by 25%
For the six months to June, Santam reports net income growth of 19%, with a underwriting margin of 11.3% – well above its target range.
Information Regulator warns: Form 2 must be used for PAIA requests
Information officers should purge Form A from internal and public systems and replace it with Form 2 immediately.
Old Mutual banks on late-mover edge as OM Bank goes live
CEO Clarence Nethengwe says arriving after rivals has given Old Mutual the chance to learn what customers really want in digital banking.
FIC publishes Revised Guidance Note 7A
The updated guidance gives concrete examples of compliance failures and explicitly states that poorly documented RMCPs may be treated as non-compliant.
FIC’s goAML will be offline from 8 to 14 September for upgrade
Ensure registrations and filings are finalised by 5pm on 8 September and back up all records – the old system will be retired after the upgrade.
Two-pot system reshapes behaviour, but retirement gaps remain
The two-pot system has changed how members check balances and withdraw funds, but evidence shows the reform alone won’t fix long-term retirement shortfalls.
