10X Investments to buy CoreShares

10X Investments has agreed to a 100% cash purchase of CoreShares, creating a full-service South African indexing investment specialist with more than R31 billion in assets under management. The deal is subject to regulatory approvals, but no delays are expected, CoreShares said in a SENS announcement last week. The purchase price was not disclosed. 10X […]

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Syndicates commit murder, stage hit-and-run accidents to defraud life insurers

Life insurers’ fraud investigations have turned up more evidence of deathly get-rich schemes in which syndicates take out funeral insurance on victims they subsequently kill in order to submit a claim. Syndicates, particularly in the Eastern Cape, look for every opportunity to exploit, and there has been upward trend with unnatural deaths in the past […]

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How tax residency affects your ability to receive an SA inheritance

The finalisation of a deceased estate is a time-consuming and frustrating process for South Africans. There is additional complexity and exasperation when one of the heirs is an expatriate. When you live outside South Africa and inherit from a South African source, you are required to have placed your emigration on file in order to […]

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MPs ask Treasury for report on impact of new financial sector levies

Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying regulators much higher levies Treasury, the FSCA and the Prudential Authority (PA) this week briefed the committee on their responses to submissions […]

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Santam takes full control of Indwe Broker Holdings

Santam, South Africa’s largest non-life insurer, has taken full control of Indwe Broker Holdings after acquiring the shareholding from African Rainbow Capital Financial Services and Sanlam. Before the transaction, Santam held 24% of Indwe, while ARC Financial Services owned 51% and Sanlam held 25%. The transaction makes Indwe a wholly owned subsidiary of Santam and […]

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