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.
Discovery Insure this week announced it has partnered with Advanced Emergency Management Services (Advanced EMS) to create a fire brigade to protect its clients in Johannesburg. The Fire Force project brings firefighting services […]
The FSCA says it is investigating contracts for difference provider Regenesis Markets (Pty) Ltd following complaints from clients that they have not received their funds after submitting withdrawal requests. Regenesis Markets, which is […]
Santam has acquired full ownership of on-demand insurtech company JaSure, buying out the 49% stake it did not already own. Founded in 2017, JaSure operates through an app, competing with insurtech companies such […]
“Husband’s moles cost widow R2m,” screamed the headline. The article, which appeared in Rapport on 5 June, sketched the background to yet another claim refuted on grounds of non-disclosure. Background The client was […]
The FSCA has exempted managers of collective investment schemes from having to obtain an advanced electronic signature (AES) from an investor when transacting online. An AES is a type of digital signature. In […]
Between 2008 and 2010, a pensioner couple invested in two Sharemax property syndications. They complained to the FAIS Ombud in 2011 after losing their money. Seven years later, the FAIS Ombud issued a […]
The 2022 tax filing season opens on 1 July. Taxpayers should take note that the deadlines to submit their tax returns are about a month earlier than they were last year. The South […]
The Financial Services Tribunal (FST) has dismissed a reconsideration application by a couple who wanted to be provided with a joint-and-survivorship pension because they reconciled and lived together as if married after their […]
When a loved one passes away, and you are nominated as the executor in the deceased’s will – or discover that the deceased had no will – the process of winding up the […]
Naspers and Sanlam Private Equity (SPE) have invested in fintech firms recently, with Naspers Foundry investing R40 million in financial advice platform LifeCheq and SPE acquiring a controlling interest in payment solutions provider […]
Attorneys and estate agents are among the least likely to implement preventative measures to reduce money laundering and terrorist financing risks, according to the Financial Action Task Force’s Mutual Evaluation Report of South […]
It has become clear that blockchain technology and the cryptocurrencies it supports are here to stay. It is time to start seriously considering whether and how these crypto markets should be regulated. Although […]
Videosign, the unique online meeting platform that allows for e-commissioning and the remote witnessing of signatures, is set to enter a new growth phase after winning the Innovation and Technology Award at the […]
The demand for cyber insurance is increasing, but cyber liability is the form of specialist cover brokers are least comfortable with placing, according to SHA’s 2022 Specialist Risk Review. Sizwe Cakwebe, the cyber […]
The Financial Sector Transformation Council (FSTC) has given entities operating in the financial sector until 12 August to submit their broad-based black economic empowerment (B-BBEE) compliance reports for 2020/21. Section 10(4) of the […]
Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a […]
The impact of the fourth wave of Covid-19 on Momentum Metropolitan Holdings’ South African life insurance businesses eased during the nine months to the end of March. In a trading update, MMH said […]
