Safeguarding client assets under COFI: familiar rules, new expectations
The Bill re-organises existing asset-protection obligations into a fiduciary framework that places greater emphasis on governance, evidence, and customer protection.
Treasury holds largely firm on AML Bill after public submissions
Two limited FICA changes were indicated, while the FSCA explained why the financial-sector provisions would not be amended.
AI trade is evolving, not ending, says Ninety One
The biggest technology momentum unwind in 27 years is coinciding with a shift on where value will be created across the AI ecosystem.
Draft TLAB will settle living annuity commutation rule
The proposal puts SARS’s existing cumulative approach into the Income Tax Act, ending uncertainty over whether the R150 000 limit applies per policy.
OPFA proposes framework for exercising summons powers
The draft guidelines set out how witnesses may be called and material obtained during complaint investigations.
Claim delay exposes importance of keeping policyholders informed
An NFO case highlights the requirements of Rule 17.8.6 and the consequences when an insurer fails to communicate during a prolonged claims process.
Law Society calls for safeguards as AML Bill expands regulatory powers
Its submission to Parliament highlights concerns about lifestyle audits, information sharing, beneficial ownership, and administrative fines.
RAF faces surge of almost 160 000 claims after SCA ruling
The revived RAF 1 Form claims could create billions of rands in additional liability, with the Fund’s first-quarter average payment illustrating the potential scale of the exposure.
RAF moves to curb default judgments as legal reforms gather pace
The RAF has emerged from years of adverse audits with an unqualified opinion, while the government is reworking the Fund’s funding model as part of the revived RABS Bill.
RAF pays R8.9bn in quarter, but payment queue grows
From loss of earnings to plaintiff attorneys, the quarter’s figures offer a closer look at where the RAF’s money is going.
Kamlana: Regulation must keep pace as finance goes invisible
The FSCA commissioner sets out how AI, DeFi, and open finance challenge traditional regulatory assumptions and place governance at the centre of innovation.
Retirement fund faulted for failing to verify death-benefit claim
The Adjudicator orders a fresh investigation after finding that the fund had not adequately verified an alleged cohabiting partner’s claim.
Cellphone insurance: When the policy wording matters
The NFO’s complaints show how SIM requirements, policy schedules, limits, and the circumstances of a theft can affect a claim.
Not every medical non-disclosure justifies claim rejection
The Appeal Tribunal found that an undisclosed diagnostic test was not material to the insurer’s assessment of the risk and ordered the claim to be paid.
After the headlines: where major FSCA enforcement cases stand
Steinhoff, Banxso, N-e-FG, and Viceroy show that imposing an administrative penalty is often only the beginning of a lengthy legal and recovery process.
Unclaimed benefits | Support for central tracing, not central control
Retirement funds back efforts to make unclaimed benefits easier to find but say transferring billions in retirement assets into a central fund goes too far.
High-profile FSCA investigations grind on amid legal battles
Updates disclose why the Tongaat Hulett and AYO matters remain unfinished, while the Curro case has now become a formal investigation.
Has the NHI debate reached a turning point?
Discovery believes the legal challenges have shifted government’s thinking on NHI and created an opportunity to pursue a more workable path to universal health coverage.
