Go-ahead for merger between Anchor and Credo
The combined business will have assets under administration of more than R230 billion.
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
Read moreThe combined business will have assets under administration of more than R230 billion.
A failure to comply with specific BEE thresholds outlined in transformation plans could lead to the Authority withholding licences.
A fiduciary expert discusses the legal complexities surrounding attached assets in the wake of Markus Jooste’s death.
The exemption will remain in force for 12 months unless a decision is made on low-cost benefit options before 31 March 2025.
Nirvesh Financial Services was also penalised for failing to ensure that its representatives, Veracity and its directors, complied with the applicable laws.
Investors were promised returns of up to 400%, but there was no legitimate financial product or investment activity, the FSCA says.
The complainant was aggrieved because he received R470 000 from the R700 000 put into an investment plan with income.
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
The Authority will deem financial statements and other reports as outstanding until they are correctly captured and submitted on the FAIS e-Portal.
The Financial Intelligence Centre has revised the reports first issued in March 2022.
Despite Parliament’s commitment to prioritise the Road Accident Amendment Bill, there has been no further communication about the comments submitted on the draft legislation.
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
A new approach may be required to how financial institutions are remunerated for services rendered in respect of unclaimed assets, the Authority says.
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
The recent ruling by the High Court underscores the Road Accident Fund’s obligation to reimburse medical scheme members for past medical expenses covered by the injured person’s medical scheme after a motor vehicle accident.
Taxpayers carrying on trade as an investment holding company should ensure they can demonstrate a high degree of involvement in the operations of the subsidiaries.