What you should know if you are appointed as an executor
When a loved one passes away, and you are nominated as the executor in the deceased’s will – or discover that the deceased had no will – the process of winding up the […]
Retirement fund arrears rise to R8.33bn despite R1bn in recoveries
Late-payment interest now accounts for almost half of arrears, suggesting unpaid contributions are remaining outstanding for longer.
Naspers, Sanlam Private Equity make fintech investments
Naspers and Sanlam Private Equity (SPE) have invested in fintech firms recently, with Naspers Foundry investing R40 million in financial advice platform LifeCheq and SPE acquiring a controlling interest in payment solutions provider […]
Attorneys, FSPs and estate agents ‘most likely to be on the FIC’s radar’
Attorneys and estate agents are among the least likely to implement preventative measures to reduce money laundering and terrorist financing risks, according to the Financial Action Task Force’s Mutual Evaluation Report of South […]
The rise and fall of UST and why we need regulation in the crypto space
It has become clear that blockchain technology and the cryptocurrencies it supports are here to stay. It is time to start seriously considering whether and how these crypto markets should be regulated. Although […]
UK award sets up Videosign for new growth trajectory
Videosign, the unique online meeting platform that allows for e-commissioning and the remote witnessing of signatures, is set to enter a new growth phase after winning the Innovation and Technology Award at the […]
Brokers don’t need to be cyber-security experts to sell cyber cover
The demand for cyber insurance is increasing, but cyber liability is the form of specialist cover brokers are least comfortable with placing, according to SHA’s 2022 Specialist Risk Review. Sizwe Cakwebe, the cyber […]
Deadline for financial sector B-BBEE compliance reports
The Financial Sector Transformation Council (FSTC) has given entities operating in the financial sector until 12 August to submit their broad-based black economic empowerment (B-BBEE) compliance reports for 2020/21. Section 10(4) of the […]
KZN floods are the biggest natural catastrophe in Santam’s history
Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a […]
Momentum reports lower claims impact from Covid
The impact of the fourth wave of Covid-19 on Momentum Metropolitan Holdings’ South African life insurance businesses eased during the nine months to the end of March. In a trading update, MMH said […]
FSCA fines Brite Advisors and former director R12.5m
The FSCA has fined Brite Advisors South Africa (Pty) Ltd and a former director of the group, Nigel James Green, a total of R12.5 million. The Authority said an investigation found that Brite, […]
A proactive risk advisory business model is key to survival
If you think that a “business as usual” approach is all that is required in the future, you are in for a rude awakening. In a recent media release, Andrew Coutts, the head […]
FSCA overlooked FSP’s response because it landed up in a junk folder, says tribunal
The FSCA’s assumption that an FSP had not responded to one of its questions contributed to its decision to debar him. But a pack of documents the FSP sent the FSCA landed up […]
Covid waves see Liberty’s claim pay-outs jump 60%
Claims paid out by Liberty under its flagship Lifestyle Protector policy shot up by 59.6% last year, to R10.12 billion, largely because of the cumulative effects of the Beta and Delta waves of […]
Old Mutual receives more than 2 200 flood claims
Old Mutual Insure (OMI) has received more than 2 200 claims related to the floods in KwaZulu-Natal in April. In a trading update published on 26 May, Old Mutual said reinsurance agreements would reduce […]
Multi-asset unit trusts back in favour with SA investors
South African multi-asset portfolios found favour with investors in the 12 months to the end of the first quarter of this year, according to the Association for Savings and Investment South Africa (Asisa). […]
Failure to avoid FATF’s ‘grey list’ poses a risk to the stability of SA’s financial system
The South African Reserve Bank (SARB) has identified the potential of an unfavourable outcome of the Financial Action Task Force’s Mutual Evaluation of South Africa as a threat to the stability of the […]
Fund cannot withhold a benefit if an employer has only instituted criminal charges
The Financial Services Tribunal (FST) has reiterated that a retirement fund cannot withhold a benefit if only a criminal case has been instituted against a member. In fact, even if the member has […]
