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.
A wealthy Durban businessman has failed in his bid to “hide” more than R5.5 million from his wife. He had hastily established a trust and repaid his father an old debt. The Supreme […]
The membership of South African medical schemes was resilient during the Covid-19 pandemic despite rising unemployment and the slowdown in economic growth, according to the latest Alexforbes Sustainability Index. Membership of the analysed […]
The risk landscape in which FSPs are operating is becoming more complex and difficult, and advisory intermediaries should take steps to protect themselves by entering into service contracts that will limit their liability, […]
The Council for Medical Schemes (CMS) is proposing to introduce new guidelines on the appointment of brokers by employers on behalf of employees. In a circular published this week, the CMS said it […]
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
The Department of Health (DoH) will seek to set aside the Pretoria High Court’s ruling that a certificate of need (CoN) is unconstitutional and invalid, saying the court’s decision has “serious implications” for […]
Health Minister Dr Joe Phaahla has once again indicated that National Health Insurance (NHI) will be phased in based on the funds available. Earlier this month, Dr Phaahla told a virtual event hosted […]
Old Mutual paid out R21.2 billion in claims in South Africa last year, 51% higher than in 2020, according to its latest claims statistics report. “The significant increase in pay-outs of 51% bears […]
Ismail Momoniat, the acting director-general of National Treasury, told the Pension Lawyers Association virtual conference in May that retirement reform is alive and well, although the various proposals still need to be consolidated. […]
Workplaces where there is a high risk of Covid-19 transmission may insist that employees continue wearing masks even though some of the Regulations Relating to the Surveillance and the Control of Notifiable Medical […]
The process involved in replacing the old compliance reports, which were last required for the 2017 financial year, reminds me of a joke in a rag magazine, many years ago, about a new […]
Without a new approach to managing risk, group income disability benefits are headed for extinction and, in the retail market, only the rich will be able to afford these benefits, says Reinier van […]
Proper counselling when employees change jobs or reach retirement makes a significant difference to the portion of their savings employees take as cash, but few employees are receiving this kind of advice, according […]
The South African Revenue Service (Sars) has introduced some changes to the auto-assessment process this year to make it easier for taxpayers to file their income tax returns. If you are not a […]
The FSCA has told retirement funds and fund administrators to submit information about their paid-up members, setting a deadline of 31 October for information relating to new paid-up members. In March, the FSCA […]
The South African Reserve Bank (SARB) will hike the repo rate by 75 basis points in both July and September – well above the consensus expectation, according to international banking group BNP Paribas. […]
The recent Supreme Court of Appeal (SCA) case of Nedbank Limited v Houtbosplaas (Pty) Ltd and Another raises interesting considerations for accountable institutions aiming to comply with their obligations under the Financial Intelligence […]
