How Sars has changed tax for annuitants
A change introduced by the South African Revenue Service (Sars) came into effect on 1 March 2022, requiring annuity providers, including Allan Gray, to withhold a fixed tax rate higher than the rate […]
Treasury’s proposed unclaimed-assets model revives central fund debate
The framework separates administration from custody and investment and introduces a possible time limit on owners’ and beneficiaries’ claims.
Fake intelligence report used to fire Gordhan and Jonas – Zondo report
Then President Jacob Zuma used a fake intelligence report as a pretext to fire Pravin Gordhan and his deputy, Mcebisi Jonas, so that his and the Guptas’ agenda, including the capture of National […]
Lloyd’s believes it’s likely SA will see repeat of July riots
Lloyd’s of London believes it is likely there will be a recurrence of last year’s riots, and has hiked its reinsurance premiums paid by the South African Special Risk Association (Sasria). Sasria briefed […]
How intermediaries can have better conversations with their clients
Clients often find insurance conversations challenging. They want to get through them quickly and enter them with a preconceived idea of what they want to talk about. But intermediaries can have more meaningful […]
Bookings open for Moonstone’s Privacy Governance webinar
As a result of the huge interest in the privacy governance segment of our Regulatory Update Webinar in February, Moonstone Compliance will be holding a series of webinars dealing specifically with this issue. […]
Tribunal: ‘true test’ for debarment is balance of probability
The case for debarring a representative must be established on a balance of probability, not prima facie findings, the Financial Services Tribunal (FST) said when it upheld a representative’s application for his debarment […]
Discovery launches Shari’ah-compliant medical scheme arrangement
Members of Discovery Health Medical Scheme (DHMS) will be able to elect to have their health plan administered in accordance with Shari’ah principles from 1 June. It said South Africa’s first Shari’ah-compliant medical […]
Freedom’s just another word
The government’s call for assistance from the business world to get the economy going again is hopefully a welcome change in the view that private enterprise is in competition with it. The perceived […]
Registrars can grant default debt judgments, says High Court
The full bench of the Mpumalanga High Court has ruled that registrars are entitled to grant default judgments in matters related to the National Credit Act (NCA) – thereby either clarifying or adding […]
‘Pressures on core inflation are building’
BNP Paribas says the pressures on core inflation are building, which could force the South African Reserve Bank (Sarb) to step up the pace of repo rate hikes from next month. Meanwhile, Anchor […]
Retirement funds can use Irba’s revised formats for their financial statements
The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
FSCA agrees to reconsider R50m fine on Mirror Trading International
The FSCA has agreed to reconsider the R50 million penalty it imposed on Mirror Trading International (MTI) for conducting unregistered financial services business in contravention of the FAIS Act. The Financial Services Tribunal […]
About 48% of PPS’s claims in 2021 were Covid-related
PPS Life Insurance paid Covid-19-related claims of R1.4 billion in 2021, which was 36% higher than in 2020, when claims were 45% up from 2019, the mutual insurer said in its annual report […]
Insurance update on KZN floods
The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash […]
Bookings open for Moonstone’s Privacy Governance webinar
As a result of the huge interest in the privacy governance segment of our Regulatory Update Webinar in February, Moonstone Compliance will be holding a series of webinars dealing specifically with this issue. […]
Why you should ask a regulator for reasons for a decision
If you are at the receiving end of an adverse decision by a financial services regulator, you should make use of your right to request reasons for the decision, because this may result […]
Adding sugar to the Cofi?
Business Day reported on an FSCA briefing for the select committee on finance on Tuesday on the current status of the Conduct of Financial Institutions (Cofi) Bill. “The Treasury is processing the bill. […]
