SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
As a financial adviser, you can play an invaluable role to help ensure financial sustainability for your client through a needs-matched product that is unique to them. But how much income protection cover […]
On Monday, we published an article about a case where the “breakaway kids” used the FSP’s client data to feather their potential future nest. Read: Representatives used FSP’s client info to obtain quotes […]
Financial Services Tribunal upholds their debarment, saying ‘filching’ client information is not only a contractual issue.
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
The SA Reserve Bank will shortly issue a draft sketching an ESG disclosure framework for the financial services organisations that it supervises.
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
Adjudicator said the fund was ‘wrong’ to rely on the fact that the sons were not financial dependants.
The FSCA has proposed establishing a single central unclaimed assets fund into which all unclaimed assets should be transferred. This is one of 13 recommendations in its discussion paper on unclaimed assets, which […]
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
The Association for Savings and Investment South Africa (Asisa) has welcomed National Treasury’s decision to move out, by a year, the date for implementing the two-pot retirement system but still believes the new […]
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
The High Court in Johannesburg has placed Constantia Insurance Company Limited (CICL) in final liquidation after granting the urgent application brought by the Prudential Authority (PA) and the short-term insurer’s curator at the […]
Multisure Corporation’s attempt bring into operation the High Court order cancelling its intermediary agreement with KGA Life has failed, despite a successful High Court ruling last month, because KGA has been granted leave […]
The FSCA this week published a media release providing a short summary of the content covered in its financial soundness workshop for FSPs that collect premiums or hold assets. The online workshop was […]
Minister of Finance Enoch Godongwana has appointed Thobile Masina as the new acting FAIS Ombud. Masina was the assistant ombud since October 2017. She replaces Advocate Nonku Tshombe, who acted in the position […]
A decision by a pension fund was referred to the Pension Funds Adjudicator’s office, and subsequently to the Financial Services Tribunal by the disgruntled siblings of the deceased. Background After the death of […]
