FSCA reacts to overturning of JP Markets liquidation order
The FSCA says it will abide by the Supreme Court of Appeal (SCA) ruling that the Gauteng Division of the High Court erred in September when it ordered the final liquidation of trading […]
CMS reviewing Bonitas complaints, says recovery plan appears to be bearing fruit
The regulator says it is monitoring the situation and sees signs of improvement, but some members continue to report difficulties accessing healthcare and resolving claims.
SA told to beef up anti-money laundering measures
South Africa is expected to take remedial steps within 18 months to address the “significant weaknesses” in parts of the country’s system to combat money laundering and the financing of terrorism and weapons […]
SARB invites comment on regulations to govern bank failure
The South African Reserve Bank (SARB) has published for public comment another discussion document as it develops a regulatory framework for winding down a failed or failing financial institution. The “Proposed valuation requirements […]
Allan Gray answers the 5 key questions financial advisers and clients are asking
In Allan Gray’s latest Quarterly Commentary, Tamryn Lamb, Allan Gray’s head of retail distribution, distilled some of the points discussed at the asset manager’s 2021 Investment Summit to answer the five key questions […]
CMS approves Medipos settlement order
The Council for Medical Schemes (CMS) has approved the settlement order that forces the South African Post Office (SAPO) to pay the millions of rands in contributions it deducted from employees’ salaries over […]
CMS approves Medipos settlement order
The Council for Medical Schemes (CMS) has approved the settlement order that forces the South African Post Office (SAPO) to pay the millions of rands in contributions it deducted from employees’ salaries over […]
Information Regulator publishes a guide on how to use PAIA
The Information Regulator published, on 12 October, its guide on how to use the Promotion of Access to Information Act (PAIA), in each of South Africa’s 11 official languages. The PAIA Guide has […]
The five medical schemes that pay brokers above the industry average
Five medical schemes – including Discovery, the country’s biggest by number of beneficiaries – paid commissions to brokers above the industry average last year, according to the Council for Medical Schemes (CMS) annual […]
Two-bucket system only part of the solution to increasing pensions at retirement, says Alexander Forbes
Alexander Forbes says it supports National Treasury’s proposed “two-bucket” system, as its latest Member Insights highlighted non-preservation as the main reason only 6% of fund members can expect to retire with a replacement […]
The most common reason FSPs got into FICA trouble
The main reason the FSCA fined FSPs in terms of the Financial Intelligence Centre Act (FICA) last year was for failing to implement a risk management and compliance programme (RMCP), the Financial Intelligence […]
Absa to sell LISP business to Glacier as part of deal with Sanlam
Absa intends to sell its LISP business to Glacier by Sanlam as part of the overall transaction in which Sanlam Investment Holdings (SIH) will acquire Absa’s investment management business. In a SENS announcement, […]
SA’s retirement-savings metrics moving in the wrong direction
You can be certain that any sentence with the words “South Africans”, “retirement plan” and “recent survey” will tell you something you probably already know: few South Africans are saving enough. That pretty […]
The new rules around citizenship, exchange control and tax residency: part 2
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The new rules around citizenship, exchange control and tax residency: part 2
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
Why the Actuarial Society believes Treasury’s two-bucket system is likely to triple pension incomes
The Actuarial Society of South Africa (ASSA) has released research suggesting that National Treasury’s “two-bucket” proposal, which will allow retirement fund members to access a portion of their retirement benefits for emergencies, will […]
FSCA opens more debarment cases but issues fewer orders in 2020/21
The FSCA’s annual report shows what regulatory action was taken in the past year and the compliance issues that caught the authority’s eye. Debarments The number of debarment orders issued by the FSCA […]
Which puts you most at risk of fraud: online, mobile or app?
You’re most at risk of becoming a victim of digital banking fraud if you use a mobile device – but the risks are much lower if you use a banking app. And online […]
