SCA Finds in favour of Moneyweb
Moneyweb reports: “The media and any person has an unqualified right to access the shareholder registers of any company in South Africa; such a right is essential for effective journalism. The motive for […]
ConCourt judgment in Capitec vs SARS clarifies important VAT principles
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
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Is Criticism of FSR Bill Justified? By Alan Holton
Does the proposed Financial Sector Regulation Bill really “…violate the Constitution, the doctrine of the separation of powers and the rule of law…”? Mr Martin van Staden is a law student at the […]
Unlicensed Entity fined R50 000
KB Cash Loans from Kuruman recently featured in a settlement agreement with the Registrar of Financial Services for a contravention of the FAIS Act. For about a year, from November 2010, it advised its […]
Ombud holds Insurer liable for Sharemax loss
During September 2009 James Wallace, the complainant, consulted his Momentum representative, Ian Marais, about investing his mother’s money as well as some of his own. His seventy year old mother resided in the […]
Proteas ODI squad for the triangular Caribbean series
Cricket South Africa (CSA) today named Tabraiz Shamsi as a new cap in the Proteas ODI squad for the triangular series in the Caribbean next month against hosts, the West Indies, and Australia. […]
Moonstone Training Opportunities
Align your training and development needs with the Regulator’s drive towards professionalization by making use of the services listed below. Just click on the title for more information. FURTHER EDUCATION AND TRAINING: SHORT-TERM […]
DOFA Deadline Looming
Candidates are required to successfully complete the applicable level 1 Regulatory Exam by 30 June after expiry of 24 months from the date of first appointment as representative. In practical terms, this means that those […]
Amendments to Social Grant Deductions
The Minister of Social Development, Ms Bathabile Dlamini (pictured above), issued a media release on Friday, 6 May, to explain the background to amendments to the Social Assistance Act, 2004, published on the same […]
Protection for Lower Income Sector
The lower income sector of the financial services industry regularly makes the headlines, for all the wrong reasons. A funeral parlour, who conducted business from November 2008 to August 2013 without being duly registered with […]
Community Schemes Ombud Envisaged
Legalbrief reported on 4 May that an ombudsman for sectional title and community schemes will be ‘formally established’ during the current financial year – giving practical effect to the 2011 Act. Noting the ‘unexpected […]
Possible Amendment to RDR Phase 1 Timelines
In the publication of the Phase 1 proposals it was envisaged that drafts of subordinate legislation to give effect to the majority of the RDR Phase 1 proposals would be published for comment in April 2016, […]
Case Studies from the Short-term Ombud
Ombuds often provide practical insight into how our industry should operate. Material Misrepresentation or Simple Oversight? Mr. D contacted the insurer to insure a newly purchased vehicle. During the underwriting of the policy, […]
FSB Responds to Hunter Claims
An article in Personal Finance titled Tshidi hits back over pension fund allegations, states: Financial Services Board (FSB) chief executive Dube Tshidi says the financial services industry regulator will apply to the Pretoria […]
SuraPure Update
The Financial Services Board published a warning against conducting business with a Mr Cornelius Petrus van der Merwe and Invest Daily Profit (IDP) who appears to be acting as a financial services provider, […]
Claims and Medical Opinions
The Long-term Ombud’s Ombuzz Issue 33: April 2016 contains some very interesting case studies on the role of medical opinions when claims are repudiated. In many complaints our office has to deal with […]
Annual Financial Statements Reminder
The majority of FSPs have a financial year end of February. For them, it means that the 2016 financial statements need to be submitted by 30 June this year. Full details are contained in […]
