The FST says the factors in section 167 of the FSRA are individual in nature and must be assessed in determining the appropriate penalty for each person.
A recent report by multinational investment management firm Schroders has emphasised the need for the financial services industry to get to grips with the gender dimension of investing and wealth transfer. The study […]
When asked by the host on a talk show what the African equivalent of the Spanish word mañana is, the guest from our continent answered: “We do not have any word that describes […]
The limitation on companies setting off any assessed losses against taxable income is about to hit home. Companies that are making a loss will have to find the cash to pay tax on […]
National Treasury’s acting director-general, Ismail Momoniat, says mechanisms need to be put in place to ensure that the regulators are doing their job in respect of suspicious financial transactions, noting that Treasury does […]
Nedbank has blamed delays in the promulgation of amendments to the Financial Intelligence Centre Act (Fica) for the effective fine of R20 million and other administrative sanctions imposed by the Prudential Authority (PA) […]
The past 30 years have seen a significant move away from employer-sponsored standalone retirement funds to employers participating in commercial umbrella funds. The trend has been driven by the regulator wanting fewer retirement […]
It shouldn’t come as a surprise that the Momentum-Unisa Consumer Financial Vulnerability Index (CFVI) shows that consumers were financially worse off in the second quarter compared with the first three months of this […]
A few years ago, climate change was a far-off reality, but a marked increase in natural disasters and weather-related catastrophes points to the reality that it may be closer to home than we […]
The FSCA is proposing that significant owners of FSPs become subject to the honesty and integrity requirements of Joint Standard 1 of 2020, saying the amendment is required urgently to prevent South Africa […]
The Council for Medical Schemes (CMS) has recommended that contribution increases for 2023 should be limited to 5.7%, in line with the South African Reserve Bank’s projected average inflation rate for next year. […]
A failure to adhere to the basic procedures set out in the FAIS Act resulted in the Financial Services Tribunal (FST) instructing an FSP to have another go at debarring a representative who […]
A Toyota Land Cruiser valued at more than R1.2 million found its way into the hands of the general of a rebel army in the Democratic Republic of the Congo (DRC) after a […]
Standard Bank and its lawyers have come under fire from a Durban High Court judge for taking shortcuts in an application against a defaulting homeowner. The bank sought default judgment and an order […]
Women hold 47% of life policies, but the value of their cover is much lower than that of men, and few women have sufficient income protection, according to Discovery Life’s analysis of its […]
Moonstone recently reported on the regulatory action the FSCA has taken against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. For […]
Is it a “done deal” that South Africa will be placed on the Financial Action Task Force’s grey list next year? There are those who think it is, and therefore advisers should engage […]
The FSCA is taking regulatory action against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. In a statement, the FSCA said […]
