PAIA Manual requirements postponed
Unbeknown to most of our readers, they almost became criminals overnight. In an article titled Important changes to PAIA on Monday we reported about changes to the Promotion of Access to Information Act […]
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.
Firm sues broker for neglecting to effect business interruption cover
A Cape Argus article dated 24 June 2021 relates the details of a short-term insurance client who is suing his broker for negligence in failing to effect insurance against business interruption, leading to […]
Sanlam Benchmark Survey notes impact of COVID-19 on retirement in SA
Some of the highlights from survey concerns suspended contributions, a decrease in fund members and greater focus on wellness. It also notes the impact of the default regulations introduced in 2019. Suspended contributions […]
Sanlam Benchmark Survey notes impact of COVID-19 on retirement in SA
Some of the highlights from survey concerns suspended contributions, a decrease in fund members and greater focus on wellness. It also notes the impact of the default regulations introduced in 2019. Suspended contributions […]
Crypto Currency scam sets new “record”
Last year South Africa achieved yet another dubious record when the Mirror Trading implosion was regarded as the biggest crypto currency scam ever. On 23 June Moneyweb reports: Africrypt ‘hack’ of nearly R54bn […]
Legally sanctioned, but morally justifiable?
“There is something that has been bugging me since 2004”, writes Andró Griessel on the Netwerk24 website, “and that is the so-called early termination charges on contractual savings plans.” (My translation) Griessel states […]
Important changes to PAIA – the Promotion of Access to Information Act
Whilst a lot has been said about POPIA, its older but lesser known cousin, the Promotion of Access to Information Act (PAIA) has quietly entered the stage, left, almost as a postscript to […]
What is the actual cost of free software?
Survey Results One of the key findings from our recent online Financial Services Technology Survey is that free customer engagement software is prevalent within the industry. Zoom (used by 80% of respondents) and […]
What is the actual cost of free software?
Survey Results One of the key findings from our recent online Financial Services Technology Survey is that free customer engagement software is prevalent within the industry. Zoom (used by 80% of respondents) and […]
Regulatory exams: Some good news and some not so good news
A number of changes to the General Code of Conduct for Authorised Financial Services Providers and Representatives become effective on 26 June 2021. The not so good news We reported on these changes […]
Potential POPIA impact on social media
A very interesting article on the Werksmans website provides some insight into what may just be the first of many unforeseen outcomes of this new legislation. A Legalbrief Today article points out […]
This POPI is not a flower
As can be expected, the establishment of the office of the Information Regulator is experiencing some start-up problems. With 1 July 2021 set as the date when the final sections of the Protection […]
SCA rules for insurer after cancellation of life policy
Legalbrief Today reports as follows: When Johannesburg resident Susan Church decided to cancel her insurance policy from Discovery Life Ltd, she had no inkling of the events that were to befall her six […]
SCA rules for insurer after cancellation of life policy
Legalbrief Today reports as follows: When Johannesburg resident Susan Church decided to cancel her insurance policy from Discovery Life Ltd, she had no inkling of the events that were to befall her six […]
A call for preservation of all retirement funding contributions
In the wake of calls from unions for legislation to be changed to allow workers to access their pension fund contributions in times of financial distress, other voices call for stronger measures to […]
A call for preservation of all retirement funding contributions
In the wake of calls from unions for legislation to be changed to allow workers to access their pension fund contributions in times of financial distress, other voices call for stronger measures to […]
Impact of Market Value adjustment on Section 14 transfer
Adjustments for adverse market conditions last year led to a highly unsatisfactory outcome for a client whose funds were invested in a smoothed bonus portfolio. The complainant’s Section 14 application form was sent […]
