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.
COFI Bill approved for submission to Parliament
Omnibus AML/CFT Bill also gets the nod for tabling.
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Important expenses not factored into the medium-term budget
A major concern is the contingent liability guarantees of municipalities and some of the state-owned enterprises.
RAF ordered to pay medical expense claims covered by medical schemes
Judge says directive was a ‘flagrant disregard’ of the RAF Act and a ‘hopeless undermining’ of the Constitution.
Adjudicator takes retirement funds to task for ‘unnecessary’ complaints to her office
Delays in payment of withdrawal benefits and employers’ failure to pay contributions continue unabated, says Lukhaimane
National Council of Provinces finalises amendments to Fica schedules
No carve-out to accommodate clothing retailers’ concerns about exclusion or compliance costs
Fisa makes urgent submission to Parliament on ‘beneficial ownership’ relating to trusts
It says the amendment bill imports a foreign concept that is in conflict with South African trust and property law.
Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
High Court orders unlicensed brokerage to repay client €600 000 plus interest
Ruling provides clarity on the licensing requirements for local agents of foreign providers.
Court confirms order for reinstatement of insurance salesman fired for gross insubordination
He was alleged to have disrespected the CEO during a staff meeting called to address the team’s underperformance.
Supreme Court of Appeal rejects bid to overturn insurers’ liquidation
Did section 54(5) of the Insurance Act and the provisional curatorship orders preclude the final liquidation orders?
Godongwana appoints permanent Chief Ombud
Leanne Jackson contributed to developing key financial sector legislation, including the Conduct of Financial Institutions Bill and TCF.
What medical schemes paid in broker commissions in 2021
Seven schemes paid commissions that were higher than the industry average.
Sabric’s crime stats lift the lid on fraudulent loan applications
Big jump in the number of fake applications for vehicle finance.
Judge ‘unscrambles an egg’: 20 years of property sales reversed
It started in 2001 when a bank bought the house for R100.
MTBPS: positive and prudent, but significant risks remain
Investors are likely to see the deficit and debt trajectories as tentative, given the risks that remain unresolved.
Did debarment remorse lead to amended certificate of service?
Tribunal asked to rule on the impact of a labour dispute settlement agreement on an FSP’s debarment decision.
