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.
The case for debarring a representative must be established on a balance of probability, not prima facie findings, the Financial Services Tribunal (FST) said when it upheld a representative’s application for his debarment […]
Members of Discovery Health Medical Scheme (DHMS) will be able to elect to have their health plan administered in accordance with Shari’ah principles from 1 June. It said South Africa’s first Shari’ah-compliant medical […]
The government’s call for assistance from the business world to get the economy going again is hopefully a welcome change in the view that private enterprise is in competition with it. The perceived […]
The full bench of the Mpumalanga High Court has ruled that registrars are entitled to grant default judgments in matters related to the National Credit Act (NCA) – thereby either clarifying or adding […]
BNP Paribas says the pressures on core inflation are building, which could force the South African Reserve Bank (Sarb) to step up the pace of repo rate hikes from next month. Meanwhile, Anchor […]
The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
The FSCA has agreed to reconsider the R50 million penalty it imposed on Mirror Trading International (MTI) for conducting unregistered financial services business in contravention of the FAIS Act. The Financial Services Tribunal […]
PPS Life Insurance paid Covid-19-related claims of R1.4 billion in 2021, which was 36% higher than in 2020, when claims were 45% up from 2019, the mutual insurer said in its annual report […]
The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash […]
As a result of the huge interest in the privacy governance segment of our Regulatory Update Webinar in February, Moonstone Compliance will be holding a series of webinars dealing specifically with this issue. […]
If you are at the receiving end of an adverse decision by a financial services regulator, you should make use of your right to request reasons for the decision, because this may result […]
Business Day reported on an FSCA briefing for the select committee on finance on Tuesday on the current status of the Conduct of Financial Institutions (Cofi) Bill. “The Treasury is processing the bill. […]
The Supreme Court of Appeal’s “deeply disturbing” decision in the case of Municipal Employees’ Pension Fund vs Pandelani Midas Mudau puts at risk the accrued retirement benefits of millions of fund members, says […]
The Municipal Employees Pension Fund (MEPF) and its administrator, Akani, have won another court case – this time in the Supreme Court of Appeal (SCA) – that upheld the retrospective application of an […]
Ninety One displaced Old Mutual Investment Group (OMIG) as South Africa’s biggest asset manager last year, with total assets under management (AUM) of R690.6 billion on behalf of South African clients at 30 […]
The Council for Medical Schemes (CMS) will host two-day training webinars for healthcare brokers in May. There will be a compulsory assessment on the second day of the webinars. The sessions will cover […]
PSG Konsult’s recurring headline earnings rose 31% to R920.6 million in the year to the end of February 2022, as the financial services group continued its growth trajectory. Recurring headline earnings have grown […]
