In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
Information received “from one of the players in the industry” prompted the Competition Commission to launch its investigation into alleged price fixing by some of the country’s major life insurers. This was all […]
The Financial Intelligence Centre (FIC) will work with entities that become accountable institutions in terms of the amendments to the Financial Intelligence Centre Act (Fica), to help them bed down compliance with the […]
The JSE has disqualified Steinhoff’s former chief financial officer, Ben la Grange, from acting as a company director for 10 years and fined him a total of R2 million. La Grange served as […]
The Council for Medical Schemes (CMS) has published its version of the sequence of events that resulted in Health Squared’s finances deteriorating to the extent that it will apply for voluntary liquidation this […]
South Africa should make the R350-a-month Social Relief of Distress (SRD) grant permanent, increase the rate of value-added tax from 15% to 17%, and reform the “distortive” personal income tax system, the Organisation […]
Two former executives of the South African Revenue Service (Sars), who were dismissed “for operational requirements” during the controversial Bain restructuring of the tax authority, have been reinstated to their previous positions. Johannesburg […]
Nedbank has agreed to pay a fine of R2 million for implementing a transaction before obtaining the approval from the competition authorities, the Competition Tribunal said last week. In a statement, the authority […]
As much of the world shut down early in the Covid pandemic, Sweden remained open. The country’s approach was controversial, with some calling it “the Swedish experiment”. But almost two-and-a-half years after the […]
Discovery Health has launched an urgent application to stop the Road Accident Fund (RAF) from rejecting valid medical claims submitted by members of medical schemes. Discovery contends that the RAF Act does not […]
The FAIS Ombud, Advocate Nonku Tshombe, says it is impossible to blame the collapse of the Sharemax property syndications on the intervention of the South African Reserve Bank (Sarb) unless “pertinent questions” about […]
The Council for Medical Schemes (CMS) was engaged in discussions with seven schemes to consider options for members of Health Squared, which intends to apply for voluntary liquidation on 1 September. In a […]
Last week, the FSCA informed subscribers to its communications that it has published, on its website, the notices of administrative sanctions that it issued to 11 FSPs for non-compliance with the Financial Intelligence […]
Life offices and asset managers represented by the Association for Savings and Investment South Africa (Asisa) have collectively made progress towards achieving the transformation targets set by the amended Financial Sector Code (FSC), […]
Discovery Group this week announced the launch of its discretionary fund manager (DFM), Cogence, which will give financial advisers access to portfolio analytics and risk analysis tools developed by the world’s largest asset […]
Chris Rea, the English rock and blues singer, has a different perspective on what the road to Hades comprises in his ode to the infamous ring road around London: She said, “Son, what […]
Minister of Finance Enoch Godongwana has published an explanatory summary of a bill that will amend five Acts of Parliament as the government moves to beef up the country’s anti-money laundering and counter […]
Blessing Utete, the managing executive of Old Mutual Corporate Consultants, spoke to Mark Bechard, the managing editor of Moonstone publications, about National Treasury’s draft legislation for the two-pot retirement system. Read: Treasury publishes […]
