From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Financial markets were buoyed in 2021 by an easing of Covid-19-related restrictions, an ultra-accommodative monetary and fiscal policy stance and a rebounding jobs market, Momentum’s Herman van Papendorp, the head of investment research […]
The total market capitalisation of the South African exchange traded product (ETP) industry grew to R136 billion at the end of last year, an increase of 22.5% on the R111bn at the end […]
The SA Post Office (Sapo) adopted an “opportunistic” and “cynical” approach when, while claiming to be concerned about the rights of social grant beneficiaries and its customers, it infringed the rights of its […]
The country’s Master’s offices were only able to resume processing inheritances from 15 November last year, when a new finger-print verification server was restored, says Justice and Correctional Services Minister Ronald Lamola. He […]
The release of the first of three publications on the findings of the Zondo commission has certainly put the cat among the pigeons. The last two reports, due for release at the end […]
The Constitutional Court has given Parliament 18 months to amend the Intestate Succession Act and the Maintenance of Surviving Spouses Act so that both laws provide for permanent life partners. In a judgment […]
The South African Institute of Chartered Accountants (Saica) says it will investigate all members of the organisation mentioned in the Zondo Commission’s report into state capture. In a media statement on 5 January, […]
Nedbank says it committed no wrong in relation to the interest rate swap transactions it concluded with Airports Company SA (Acsa) between 2009 and 2011. The bank was responding to Acting Chief Justice […]
PricewaterhouseCoopers (PwC) has admitted that it dropped the ball in failing to identify corruption at SAA when it audited the company’s books between 2012 and 2016. In part 1 of his report on […]
The response to climate change, inflation, post-pandemic growth and China’s market interventions are among investment managers’ top concerns this year, according to Sanlam Investments. Sanlam Investments’ portfolio managers believe active managers will focus […]
Global management consultancy Bain & Company says it is “deeply sorry” for its role in the damage inflicted on the SA Revenue Service (Sars) during the tenure of Commissioner Tom Moyane. However, Bain […]
The chief executive of 3Sixty Global Solutions Group, Khandani Msibi, has sharply criticised the FSCA and the Prudential Authority (PA) after 3Sixty Life was placed under provisional curatorship at the end of last […]
The FSCA and the Prudential Authority (PA) have published, for comment, the draft Joint Standard: Cybersecurity and Cyber Resilience Requirements, which sets out the minimum standards for sound practices and processes of cybersecurity […]
The FSCA says it will engage with the financial services industry in the first quarter of this year on the implementation of its cross-sectoral Conduct of Business Return (Omni-CBR). The Omni-CBR is intended […]
My initial brief was to write an article on the FAIS Ombud’s annual report, but I thought it better not to start the new year on such a sombre note. Equally depressing was […]
The FSCA has once again extended – this time until 31 December 2023 – the exemption on compliance officers’ prescribed visits to FSPs’ business premises. The exemption was granted in 2017 to the […]
National Treasury has published a discussion paper, for public comment, on the two-pot system for retirement savings, which will allow for limited pre-retirement withdrawals, and on mandatory retirement savings for all employed and […]
