Sasria was not prepared for July 2021 riots
The South African Special Risk Insurance Association (Sasria) was “not sure” why its risk analysis programme missed the warning signs of the unrest in July, according to the “Report of the expert panel […]
Draft AI policy scrapped after fake citation findings
Minister Solly Malatsi pulls the draft framework following confirmation that it includes unverified, likely AI-generated sources.
High Court dismisses constitutional challenge to sections of the Financial Sector Regulation Act
The Gauteng High Court has dismissed, with costs, an application by Fusion Guarantees and its directors to declare sections 154, 167 and 231 of the Financial Sector Regulation Act (FSRA) unconstitutional and invalid. […]
Prescription Act sees off R2 million claim against Sanlam Private Wealth
The provisions of the Prescription Act have resulted in the dismissal of a R2 million claim against Sanlam Private Wealth (SPW). This was despite the High Court finding that even if the money […]
Fundisa won’t accept any investments from the end of September
The Fundisa education unit trust fund will not accept investments from the end of September this year, and Asisa aims to close the fund by the end of March next year, the Association […]
Adviser obligations regarding disclosure of material terms and conditions of a policy
The need to explain material terms was never more clearly illustrated than during the pandemic outbreak in February 2020 and the subsequent lawsuits that really harmed the industry’s reputation. Of course, if we […]
FSCA’s forecast income for 2022/23 will leave it with a shortfall
The FSCA forecasts it will have a total income of R949 million in the 2022/23 financial year, while its operating expenditure will be R967m, leaving it with a shortfall of R18m. This emerged […]
Retirement fund members can buy a mix of annuities
The Taxation Laws Amendment Act (TLAA) of 2021, which, among things, gives retirement fund members greater flexibility in terms of the type of annuities they can purchase, was promulgated on 19 January. The […]
Ninety One wins Raging Bull for SA’s top asset manager
Ninety One retained the trophy for South African asset manager of the year at the Raging Bull Awards last week. It won the most prestigious of the 10 Raging Bull awards for the […]
Subscribe to Moonstone Update on our YouTube channel
At the beginning of this year, Moonstone Information Refinery officially launched Moonstone Update, a video overview of the articles published over the past week in our newsletters, Investment Indicators and Moonstone Monitor. The […]
Tax ombud publishes summary of taxpayers’ rights and obligations
The Office of the Tax Ombud (OTO) has published a draft “Compendium of taxpayer rights, entitlements and obligations” for public comment. It is not an enforceable “bill of rights” but a compilation of […]
Shrinkflation, skimpflation and your investment returns
Inflation has been making a comeback. Not so long ago, it had seemed that we had vanquished (at least in the developed world) this sneaky foe of long-term wealth creators everywhere, thanks to […]
‘Don’t look for themes or sectors – it’s all about stock-picking’
Financial advisers will have to manage investors’ expectations as the local market comes off a stellar 2021 and we enter the unfamiliar waters of higher global interest rates and quantitative tightening. Moneyweb recently […]
Labour Court strikes urgent ‘no jab, no access’ application from the roll
The Labour Court in Johannesburg has struck from the roll an urgent application brought by trade union Solidarity on behalf of two members who were denied access to their place of work because […]
FSCA extends exemption on payment for collecting premiums
The FSCA has extended for 12 months, to 31 January 2023, the exemption that allows independent intermediaries to receive compensation, over and above commission, for performing activities that support the direct collection of […]
Registration is now open for regulatory update workshop
You can now register for Moonstone Compliance’s popular regulatory update workshop, which this year will take the form of a Zoom webinar. The workshop will be held on Thursday, 24 February, from 9am […]
Tribunal can’t order FSCA to refund Oinvest investor his R346 000
An investor who lost R346 000 while trading on Oinvest has failed in his attempt to have the Financial Services Tribunal order the FSCA to reimburse his loss. He said the FSCA was liable, […]
No basis in Christianity for refusing to be vaccinated, says CCMA
The CCMA has ruled that the suspension of an employee who refused to be vaccinated was not an unfair labour practice in terms of the Labour Relations Act. The is the second arbitration […]
