Unclaimed assets remain a major headache
The FSCA’s “Regulation Plan: 1 April 2022 to 31 March 2025”, which was released last week, highlighted certain high-priority areas that it aims to address in this period. Mark Bechard of Moonstone reports […]
FSCA explores value-for-money framework for retirement funds
The regulator is looking to international models as it seeks a more consistent way to assess member outcomes, costs, and investment performance.
High Court orders Sasria to pay up for equipment lost during flooding
The High Court in Johannesburg recently ordered the South African Special Risk Insurance Association (Sasria) to settle a claim by a company that lost its equipment when a colliery was flooded during labour […]
‘Instant loans’ sign was sufficient grounds for investigation by the National Credit Regulator
A sign outside a microlender’s premises advertising “instant loans” and an employee’s verbal information that interest of 30% a month was charged on short-term loans were reasonable suspicion for the National Credit Regulator […]
Asisa members unite R22.7bn with policyholders, investors, beneficiaries and heirs
Members of the Association for Savings and Investment South Africa (Asisa) united policyholders, beneficiaries, investors and heirs with unclaimed assets worth R22.7 billion in 2021, Asisa said in a statement. The assets were […]
How the top open medical schemes’ contribution increases compare to inflation
Bestmed, Fedhealth and Medshield have had the highest average annual contribution increases among the top open medical schemes over the past 15 years, according to Alexander Forbes Health’s 2021/22 Medical Aid Insights. Read: […]
Information Regulator unhappy with the flood of unsolicited direct marketing
The Information Regulator says it is concerned that consumers continue to be bombarded with unsolicited direct marketing messages that do not comply with the Protection of Personal Information Act (Popia), and it will […]
Sars has its eye on South Africans working abroad
The 2022 tax season is around the corner, and it will be one of the shortest to date. The period to submit tax returns will be open from 1 July to 24 October […]
SCA thwarts man’s bid to keep assets from his wife during divorce trial
A wealthy Durban businessman has failed in his bid to “hide” more than R5.5 million from his wife. He had hastily established a trust and repaid his father an old debt. The Supreme […]
Medical schemes are robust with healthy reserves, Sustainability Index shows
The membership of South African medical schemes was resilient during the Covid-19 pandemic despite rising unemployment and the slowdown in economic growth, according to the latest Alexforbes Sustainability Index. Membership of the analysed […]
Advisory intermediaries urged to draw up agreements to limit their liability
The risk landscape in which FSPs are operating is becoming more complex and difficult, and advisory intermediaries should take steps to protect themselves by entering into service contracts that will limit their liability, […]
CMS proposes changes to the appointment of brokers by employers on behalf of employees
The Council for Medical Schemes (CMS) is proposing to introduce new guidelines on the appointment of brokers by employers on behalf of employees. In a circular published this week, the CMS said it […]
Moonstone warns of fake regulatory exam certificates
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
Health department will seek to have ‘anti-NHI ruling’ set aside
The Department of Health (DoH) will seek to set aside the Pretoria High Court’s ruling that a certificate of need (CoN) is unconstitutional and invalid, saying the court’s decision has “serious implications” for […]
NHI will be phased in, says Phaahla
Health Minister Dr Joe Phaahla has once again indicated that National Health Insurance (NHI) will be phased in based on the funds available. Earlier this month, Dr Phaahla told a virtual event hosted […]
Old Mutual pays out a record R21.2bn in claims in 2021
Old Mutual paid out R21.2 billion in claims in South Africa last year, 51% higher than in 2020, according to its latest claims statistics report. “The significant increase in pay-outs of 51% bears […]
Two-pot retirement system may take up to five years to implement
Ismail Momoniat, the acting director-general of National Treasury, told the Pension Lawyers Association virtual conference in May that retirement reform is alive and well, although the various proposals still need to be consolidated. […]
‘Employers may still require employees to wear masks’
Workplaces where there is a high risk of Covid-19 transmission may insist that employees continue wearing masks even though some of the Regulations Relating to the Surveillance and the Control of Notifiable Medical […]
