Key aspects around appointment of replacement KIs
A recent application for the reconsideration of a decision by the FSCA provides clarity on an aspect which has always been a bit of a grey area. In rather crude terms it is […]
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.
Can you summarily dismiss employees involved in looting?
Recent WhatsApp messages contained details of the alleged involvement of a prominent figure in a financial services business in the looting of items during the recent civil unrest. According to News24, the individual […]
Did Sasria underestimate the scale of looting claims?
An article in last Thursday’s Moonstone Monitor made mention of claims by the MD of state-owned Sasria that it had more than sufficient cash reserves to honour claims. He is also quoted as […]
SA civil unrest – what is force majeure, and does it apply?
This article, written by Michael Straeuli and Dominic Harris from Webber Wentzel, provides clarity on yet another phrase many of us have seen, but not really applied our minds to. Like with business […]
A debarment should not be about settling scores
A recent determination by the Financial Sector Tribunal contains this very interesting paragraph: A debarment may not be used to satisfy a provider’s contractual or other grievances against a representative, unrelated to fitness […]
5G is becoming a reality
No, we are not propagating the jab scare theory that Bill Gates and the Illuminati are using technology to brainwash unsuspecting mortals into becoming Stepford wives. Wunderman Thompson Intelligence, a global practice for […]
Teething problems for NHI in South Africa
An article in Businesstech quotes the Free Market Foundation as saying that South Africa will need to make serious tax changes to be able to afford its proposed National Health Insurance (NHI). Funding […]
Rights of employers and employees in times of riots
The law firm Cliffe, Dekker Hofmeyer published a very relevant brochure titled A “workplace” on fire: What to do with your employees. This document discusses the rights and obligations of both parties in […]
Discovery official allegedly tried to influence outcome of board election
A senior Discovery Health official who was recorded while attempting to influence the outcome of a board election, has resigned. LA Health services about 91 000 employees in local government. Discovery, as its […]
Discovery official allegedly tried to influence outcome of board election
A senior Discovery Health official who was recorded while attempting to influence the outcome of a board election, has resigned. LA Health services about 91 000 employees in local government. Discovery, as its […]
Insurance cover for losses resulting from civil unrest
With extreme looting hogging the headlines, many people are asking whether losses are covered by their short-term insurance. This will, yet again, be something that we will have to educate the masses on […]
FAIS Ombud rebuked by Tribunal
In the FJ Kotze case heard on 5 July 2021, the Financial Sector Tribunal made several scathing findings against the Office of the FAIS Ombud, something that the newly appointed Ombud Council would […]
FAIS Ombud rebuked by Tribunal
In the FJ Kotze case heard on 5 July 2021, the Financial Sector Tribunal made several scathing findings against the Office of the FAIS Ombud, something that the newly appointed Ombud Council would […]
Ombud Council Board Appointed
The latest FSCA newsletter provides details of this very important oversight body, established in terms of the Financial Sector Regulation Act. This Act requires financial institutions to be a member of an industry […]
Ombud Council Board Appointed
The latest FSCA newsletter provides details of this very important oversight body, established in terms of the Financial Sector Regulation Act. This Act requires financial institutions to be a member of an industry […]
Debarment set aside on interesting grounds
The number of successful appeals for reconsideration of debarments makes one wonder how many travesties of justice took place before the Financial Sector Tribunal saw the light. Previously, there was no recourse but […]
Huge fines a serious warning to the industry
An FSCA press release on 8 July contains details of hefty administrative sanctions imposed on Momentum Wealth (Pty) Ltd and Momentum Collective Investments RF (Pty) Ltd for failing to comply with FICA requirements. […]
