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.
Bonitas transition proceeds as administrators outline plans amid legal uncertainty
Sanlam and Momentum outline how they are managing workforce, operations, and risk as the Bonitas transition proceeds despite an unresolved court challenge.
‘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.
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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.
Under-insurance is greatest among those under 30
Yet younger income-earners will have to rely on insurance benefits for longer.
Godongwana appoints permanent FAIS Ombud
This comes after nearly three years of having an acting ombud.
Debarments: satisfying the FAIS Act and guideline requirements for procedural fairness
Ignoring emailed notices of an intention to debar doesn’t make them go away.
MPs decline to process omnibus anti-grey-listing bill
Minister of Finance asked to explain the absence of an assessment of the socio-economic impact of the General Laws Amendment Bill.
Sanlam and MTN’s financial services alliance gets the nod
The partnership will be implemented through MTN’s insure-tech platform, aYo Holdings.
Legal framework and analysis of the debarment process
Debarment is an extremely important aspect of your obligations and rights under the FAIS Act and the Financial Sector Regulation Act.
Retirement fund members at ‘serious risk’ of losing R470 million in assets
Statutory manager says N-e-FG Administrators transferred money to third parties without the required mandates.
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