Allan Gray’s data finds that advisers making heavier use of offshore solutions often have higher client balances and stronger inflows.
Policyholders of Constantia Insurance Company Limited (CICL) who have outstanding claims will have to join the queue of creditors if the application to have the insurer liquidated is granted. Last week, the provisional […]
The United States Attorney’s Office in New York has charged the co-founder and chief investment officer of a UK-based hedge fund with manipulating the US dollar/rand exchange rate to trigger a $20 million […]
The Information Regulator (IR) says its online portals for the registration of information officers and the submission of Promotion of Access to Information Act (PAIA) reports have gone live. Information officers who are […]
Life insurers will have to incorporate beneficiaries as a risk factor when determining a client’s overall money laundering and terrorist financing (ML/TF) risk, according to a proposed directive published for comment by the […]
The Financial Intelligence Centre (FIC) has published a document to guide designated non-financial businesses and professions (DNFBPs) in developing and implementing their risk management and compliance programmes (RMCPs). Public Compliance Communication (PCC) 53 […]
The Tax Administration Act (TAA) permits the warrantless search and seizure of a taxpayer’s property by the South African Revenue Service (Sars). However, this has been under scrutiny for many years because of […]
FSPs will pay 5% more in levies in the 2022/23 levy year than they did in 2021/22, as the FSCA has rejected calls from some stakeholders to implement a lower increase. Our columnist, […]
The bid by the Council for Medical Schemes (CMS) to strike a deal with seven open medical schemes, plus the Government Employees Medical Scheme, to on-board members of Health Squared without underwriting and […]
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
In last week’s Moonstone Monitor, we published an article titled “FSCA publishes notices issued to FSPs for Fica non-compliance”. The article stated that the FSCA had informed subscribers to its communications that it […]
Conducting raids on the premises of the eight life insurers under investigation by the Competition Commission for alleged collusion and price-fixing did not mean that all of them were guilty, Fin24 reports Commissioner […]
The South African Reserve Bank (Sarb) has asked legal advisers to President Cyril Ramaphosa to respond by September 8 to requests for further information as it probes the theft of foreign currency from […]
An Alberton mom has won a significant court battle against her medical scheme, forcing it to pay for an expensive drug that her three-year-old son needs to treat a rare inherited genetic disorder. […]
A number of government departments, and law enforcement and prosecution agencies are piloting an initiative which they say will make it more cost effective, faster and easier to investigate and recover assets acquired […]
The FSCA this week announced it has fined KEB Prosperity (Pty) Ltd R50 000 for contravening the FAIS Act for three months of last year. In a statement, the Authority said an investigation found […]
The Western Cape High Court has ordered an FSP to pay an executor the balance due on a loan of R1 million, plus costs, after rejecting the company’s defence that its obligations in […]
General Notice 1258 of 2022 – Levies on Financial Institutions was published on 29 August and effectively put paid to any further concessions from the regulator to alleviate the plight of an industry […]
