Proposed increase in healthcare accreditation fees
It will cost R59 more to be accredited as a healthcare broker if proposed amendments to regulation 31 of the Medical Schemes Act (MSA) are adopted. The Minister of Health, Dr Joe Phaahla, […]
Life insurers top R5 trillion as growth masks rising risk pressures
Strong market performance lifts assets to record highs, but lapses and protection gaps persist beneath the surface.
FIC publishes draft communications on data privacy and anti-terrorism financing
The Financial Intelligence Centre (FIC) has called for comments on draft public compliance communications that clarify the interplay between the Financial Intelligence Centre Act (Fica) and the Protection of Personal Information Act (Popia) […]
Some market sectors may absorb the impact of inflation better than others
Inflation worldwide is on the rise, driven by fuel price hikes, the energy crisis and rising food prices. Locally, inflation is at its highest level in five years. The sharp rise in inflation […]
FSCA issues draft guidance notice on remuneration following RA fund transfers
The FSCA has issued a draft guidance notice aimed at clarifying when intermediaries can be remunerated after a pension interest has been transferred between retirement annuity (RA) funds. The draft guidance notice has […]
Moonstone Compliance launches Employment Law Service
As Moonstone Compliance continuously strives to add value to our clients, we are excited to announce the launch of our Employment Law Service, which provides comprehensive advice on managing all aspects of labour […]
FSCA wants to set FAIS Ombud’s compensation limit at R3.5m
The FSCA is proposing to increase the FAIS Ombud’s compensation limit from R800 000 to R3.5 million. In a communication published this week, the FSCA said the proposal is the result of a recommendation […]
Retail Distribution Review proposals will be reworked in Cofi regulations
Pending regulations flowing from the Retail Distribution Review (RDR) will not be processed in their current form but will be incorporated into new regulations that will developed under the Conduct of Financial Institutions […]
Pending cross-sector regulations that may apply to FSPs
The FSCA has provided an update on how it is progressing with a number of regulatory frameworks that will apply across the financial services sector, including to FSPs. The details are contained in […]
Debarments: tribunal clears up ‘confusion’ about filing an application while legal proceedings are still pending
A decision by the Financial Services Tribunal (FST) last month should clear up any potential confusion over whether a reconsideration application can be brought by a representative who is still embroiled in litigation […]
National Treasury publishes final amendments to regulation 28
Retirement funds will be able to invest up to 45% of their assets in infrastructure from 3 January next year, when the amendments to regulation 28 of the Pension Funds Act take effect. […]
CCMA boldly declares vaccine mandates unconstitutional, but employers shouldn’t panic
In another recent mandatory vaccination award involving Baroque Medical (Pty) Ltd, the Commission for Conciliation, Mediation and Arbitration (CCMA) has found against the employer in an unfair dismissal dispute relating to an employee’s […]
Unclaimed assets remain a major headache
The FSCA’s “Regulation Plan: 1 April 2022 to 31 March 2025”, which was released last week, highlighted certain high-priority areas that it aims to address in this period. Mark Bechard of Moonstone reports […]
High Court orders Sasria to pay up for equipment lost during flooding
The High Court in Johannesburg recently ordered the South African Special Risk Insurance Association (Sasria) to settle a claim by a company that lost its equipment when a colliery was flooded during labour […]
‘Instant loans’ sign was sufficient grounds for investigation by the National Credit Regulator
A sign outside a microlender’s premises advertising “instant loans” and an employee’s verbal information that interest of 30% a month was charged on short-term loans were reasonable suspicion for the National Credit Regulator […]
Asisa members unite R22.7bn with policyholders, investors, beneficiaries and heirs
Members of the Association for Savings and Investment South Africa (Asisa) united policyholders, beneficiaries, investors and heirs with unclaimed assets worth R22.7 billion in 2021, Asisa said in a statement. The assets were […]
How the top open medical schemes’ contribution increases compare to inflation
Bestmed, Fedhealth and Medshield have had the highest average annual contribution increases among the top open medical schemes over the past 15 years, according to Alexander Forbes Health’s 2021/22 Medical Aid Insights. Read: […]
Information Regulator unhappy with the flood of unsolicited direct marketing
The Information Regulator says it is concerned that consumers continue to be bombarded with unsolicited direct marketing messages that do not comply with the Protection of Personal Information Act (Popia), and it will […]
