Old Mutual/Living Hands judgment: consider your verdict
In its response to the High Court’s decision in the Living Hands matter, Old Mutual said it was concerned about the precedent that the judgment sets “for the rest of the financial services […]
CMS receives 46 Bonitas complaints, investigates two urgent cases
The regulator says it is monitoring the situation and sees signs of improvement, but some members continue to report difficulties accessing healthcare and resolving claims.
FSCA proposes to ease requirements for CIS portfolio amalgamations
The FSCA has published a draft notice setting out the conditions under which collective investment scheme (CIS) managers will be exempt from some of the requirements of the Collective Investment Schemes Control Act […]
FSCA investigating two entities for ‘unauthorised’ OTC derivative trading
The FSCA says it is investigating Nirvesh Financial Services (Pty) Ltd and Veracity Markets (Pty) Ltd for allegedly conducting unauthorised over-the-counter (OTC) derivative business and for possible breaches of other financial sector laws. […]
King Price ordered to pay claimant the amount he owed for his vehicle
The High Court in Pretoria has upheld a Regional Court order that King Price must pay a claimant the amount he owed the bank for his vehicle, which was written off after an […]
Old Mutual to appeal R1.7bn judgment in favour of Living Hands
Old Mutual says it will file an application to appeal against the judgment by the South Gauteng High Court ordering Old Mutual Unit Trust Managers (Omut) to pay more than R1.7 billion in […]
Check out MBSE’s redesigned and updated National Credit Act courses
Moonstone Business School of Excellence (MBSE) has completely revamped its two popular online courses on the National Credit Act (NCA) and will add a third course. All three courses provide the practical knowledge […]
Moonstone launches gratis RE exam preparation videos
Moonstone Information Refinery has launched a video series to help students prepare for the regulatory exams for key individuals and representatives. The videos are not training material but are designed to help students […]
SARB is taking a slow and steady approach to crypto regulation
The authorities will roll out a number of measures in the coming months to regulate crypto assets and boost the legitimise use of the technology, Kuben Naidoo, deputy governor of the South African […]
Adjudicator hits back after High Court overturns withdrawal deduction determination
A recent order by the High Court in Johannesburg does not set a precedent for an employer or a creditor to make deductions from a retirement benefit that are prohibited by the Pension […]
About 20% of unrest claims still outstanding
The South African Special Risk Insurance Association (Sasria) has paid out R24 billion in claims relating to last year’s unrest. In a statement this week, Sasria said the pay-out represented 80% of the […]
German financial regulator fines Steinhoff R192m
Germany’s financial supervisory authority has fined Steinhoff International Holdings a total of €11.29 million (about R192m) for breaching financial regulations. The multinational retailer has a primary listing on the Frankfurt Stock Exchange and […]
The importance of timely notification of a potential claim
The first case, on which I will not dwell, concerns a claim for business interruption following water damage to a sound system, televisions, camera system, a computer system and a point of sale. […]
Taxpayers are losing out in disputes with Sars by not going to the Tax Ombud sooner
The imbalance between the South African Revenue Service (Sars) and taxpayers, particularly when it comes to the dispute resolution process, remains a major concern for the Office of the Tax Ombud (OTO). Some […]
Was market volatility or admin problems the reason a fund member lost R340 000?
The Financial Services Tribunal (FST) has ordered the Pension Funds Adjudicator to reconsider a determination that attributed a fund member’s loss to the employer’s failure to submit his withdrawal form timeously to the […]
What Sars is asking high net worth taxpayers prior to 2023 disclosure requirement
In last year’s Budget Speech, it was announced that the South African Revenue Service (Sars) would set up a specialised High Wealth Individuals’ Unit (HWI Unit) that would provide the necessary attention and […]
Regulation 28: trustees ‘need to raise their infrastructure investment skills’
Retirement funds will have to invest in upskilling trustees to empower them to navigate the complex world of infrastructure investing opened up by the gazetting of the amendments to regulation 28 of the […]
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, […]
