‘Digital load shedding’ will be bad news for remote workers
Millions of South Africans who rely on the quality of their cellular networks to work remotely will be in for a huge shock at the end of November if Icasa presses ahead with […]
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
New way to inform Sars that tax residency has ceased
The SA Revenue Service (Sars) has introduced a new declaration form that can be used to inform it that a taxpayer has broken South African tax residency, says Daniel Baines, manager at PwC […]
Material non-disclosure could result in huge fines for insurers
Insurers should put processes in place to ensure that funeral policyholders are alerted when their dependants turn 21 and no longer qualify for child-dependant status, the Office of the FAIS Ombud says. It […]
Financial Services Tribunal does not conduct trials – tips on how to approach it
From a number of recent tribunal decisions, it seems that some intermediaries do not understand the purpose of the Financial Services Tribunal – in particular, that it functions as an appeal mechanism only. […]
How big is the pensions gap in South Africa?
It would take R69 billion to close South Africa’s pensions gap, assuming a contribution rate of 10%, according to research published by Andrew Donaldson, senior research associate at the Southern African Labour and […]
Draft regulations will empower FSCA to regulate benchmarks
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
Draft regulations will empower FSCA to regulate benchmarks
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
SA doesn’t need more than 50 retirement funds, says Sanlam’s Gluckman
David Gluckman, the chairperson of the Sanlam Umbrella Fund, the third-largest umbrella fund in South Africa, has backed calls by National Treasury and Finance Minister Enoch Godongwana for greater consolidation in the retirement-funding […]
SA doesn’t need more than 50 retirement funds, says Sanlam’s Gluckman
David Gluckman, the chairperson of the Sanlam Umbrella Fund, the third-largest umbrella fund in South Africa, has backed calls by National Treasury and Finance Minister Enoch Godongwana for greater consolidation in the retirement-funding […]
Sanlam pushes assets managed by black-owned firms to R1.15 trillion
The inclusion of Sanlam Investments swelled the assets under management (AUM) of black-owned management companies to R1.15 trillion in June, from R667.8 billion in June last year. This is according to 27four Investment […]
Sanlam pushes assets managed by black-owned firms to R1.15 trillion
The inclusion of Sanlam Investments swelled the assets under management (AUM) of black-owned management companies to R1.15 trillion in June, from R667.8 billion in June last year. This is according to 27four Investment […]
Cybercriminals breach data records of 1.4 million consumers
In South Africa’s latest major data breach, it has emerged that cybercriminals accessed the personal records of more than 1.4 million consumers and employees in a ransomware attack on the servers of Debt-IN […]
Consumer optimism wanes as pandemic continues to weigh on incomes
Twenty-six percent of South Africans expect they will invest more or increase their retirement fund contributions over the next three months, while the same percentage say they will invest and contribute less, if […]
A power of attorney invalidates a binder agreement
Insurance intermediaries should think twice before asking their clients to sign a power of attorney (POA), because doing so precludes them from entering into a binder agreement or invalidates an existing agreement. In […]
Vaccination works, Momentum’s death claims data shows
Unvaccinated people are significantly more at risk of severe illness and death than those who are fully vaccinated against Covid-19, death claims data from Momentum Life Insurance has shown. Stephen van Niekerk, head […]
Vaccination works, Momentum’s death claims data shows
Unvaccinated people are significantly more at risk of severe illness and death than those who are fully vaccinated against Covid-19, death claims data from Momentum Life Insurance has shown. Stephen van Niekerk, head […]
Scammers selling fake FSCA regulatory exam certificates on social media
Scammers operating on social media are defrauding people by claiming they can issue certificates for the FSCA’s regulatory exams. At least two of these scammers claim to work at Moonstone’s Sandton’s exam venue. […]
