Discovery Health has abandoned recovery action against more than 16 500 members, agreeing to absorb up to R170 million in overpaid ATB claims after sustained pressure from MediCheck,
“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 […]
The FSCA has fined Brite Advisors South Africa (Pty) Ltd and a former director of the group, Nigel James Green, a total of R12.5 million. The Authority said an investigation found that Brite, […]
If you think that a “business as usual” approach is all that is required in the future, you are in for a rude awakening. In a recent media release, Andrew Coutts, the head […]
The FSCA’s assumption that an FSP had not responded to one of its questions contributed to its decision to debar him. But a pack of documents the FSP sent the FSCA landed up […]
