The FSCA finds wildly inconsistent withdrawal charges under the two-pot retirement system, with some members paying up to R750 per transaction.
The Fit and Proper Determination requires that certain individuals obtain a specified number of Continuous Professional Development (CPD) hours within a 12-month cycle between 1 June and 31 May. One of the most important aspects […]
On Thursday, Health Minister Zweli Mkhize released the much-awaited National Health Insurance (NHI) bill in Pretoria. He said that it is expected to be fully functional in South Africa by 2026. The Health […]
We are all aware that the FAIS Ombud is responsible for promoting consumer protection and fostering the integrity of the financial services industry by resolving complaints in a manner that is impartial, expeditious, […]
South African women are struggling to make ends meet, with 81% of them running out of money before the end of the month (vs. 72% of males). This despite the fact that women […]
“Short Term Insurance complaints remain the highest number of complaints received by this Office”. This is the view of Marc Alves of the FAIS Ombud’s office. In a recent FAIS Ombud newsletter he […]
One of today’s media tweets read: “The day we have all been waiting for is finally here, the NHI bill is being introduced in Parliament today” – Mkhize #NHI South Africa’s National Health […]
In a recent media release, the Office of the Ombudsman for Short-Term Insurance (OSTI) highlights some of the things consumers do which might result in the insurer cancelling cover or refusing to pay […]
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
“Aside from the controversy it’s found itself in because of its involvement in spreading ‘fake news,’ Facebook is still possibly the most powerful social media platform on Earth”, Johnny Sandquist, owner of Three […]
Parties that are aggrieved by decisions of the Pension Funds Adjudicator may lodge appeals with the Financial Services Tribunal. The Financial Sector Regulation Act, 9 of 2017 (“FSR Act”) considers the Pension Funds […]
While the legislation that governs tax exemption for religious institutions is robust, enforcing compliance could be difficult, Louis Botha, an associate in Cliffe Dekker Hofmeyr’s (CDH’s) Tax & Exchange Control practice recently mentioned. […]
According to a global study of nearly 30 000 respondents by Accenture Strategy, 62 percent of consumers said they would pay more – or even accept a product of lower quality – should the […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
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