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.
The South Africa Reserve Bank has appointed deputy governor Fundi Tshazibana as the chief executive of the Prudential Authority (PA), in a rotation of deputy governor positions, the SARB said in a statement […]
My colleague Mark Bechard’s article on the increase in rejected claims because of reckless driving raises a few interesting questions about the possible use of technology when investigating such claims. The Ombudsman for Short-term […]
The SA Revenue Service (Sars) has “a long way to go” before its service reached an acceptable level and it was “striving hard” to strike a better balance between customer service and risk […]
The PSG Group plans to unbundle its investments and delist from the JSE in an attempt to reduce the 30% discount at which its shares trade to the value of the group’s underlying […]
The National Prosecuting Authority (NPA) has yet to take action against those responsible for the losses incurred by investors in Corporate Money Managers (CMM), although the matter was brought its attention in 2017. […]
While most major global markets ended in the red, mining sector stocks drove the FTSE/JSE All Share Index 2.4% higher in February. The Alsi is up 3.2% so far this year. Diversified miners, […]
“We need to have a serious debate about raising taxes, because taxes are going to have to go up. There is no doubt about it in my mind,” Michael Sachs, the deputy chairman […]
The FSCA has published a draft conduct standard on the requirements for providing a benchmark in South Africa. This follows the publication in September last year by National Treasury of draft regulations that […]
The Prudential Authority (PA) has lost its urgent application to replace Yashoda Ram as the provisional curator of 3Sixty Life, with the Gauteng High Court ruling on Thursday that the regulator had “adopted […]
Millions of rands in insurance premiums paid by members of the National Union of Metalworkers of SA (Numsa) were siphoned from life insurer 3Sixty Life to prop up other Numsa-owned companies between 2017 […]
The National Union of Metalworkers of South Africa (Numsa) has noted the article published by James Stent in GroundUp and the article written by Micah Reddy of amaBhungane. The articles are making reference […]
Santam paid out R24.5 billion (2020: R21bn) in claims last year, the highest gross claims pay-out in its 104-year history, the country’s biggest short-term insurer said in its financial results for the year […]
The FSCA has outlined how it intends to promote transformation in the financial sector, both now and, more importantly, once the Conduct of Financial Institutions (Cofi) Bill becomes law. This week, the Authority […]
The FSCA is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit and Proper Requirements. The reason for the exemptions is […]
The Appeal Board of the Financial Intelligence Centre (FIC) has upheld the effective penalty of R1 065 924 imposed on Gauteng-based Truck World for failing to report transactions exceeding the cash threshold of R24 999.99. […]
National Union of Metalworkers of South Africa (Numsa) general secretary Irvin Jim scored a R40 000 birthday party, and his daughter a laptop, thanks to a life insurance company owned by Numsa’s workers’ […]
The Financial Services Tribunal’s decision in January to set aside the debarment of a financial planner highlights the importance of FSPs adhering to the requirements of section 14 of the FAIS Act and […]
