South Africans in the UAE: why you may need a separate will for your assets
Many South Africans assume their SA will covers their UAE assets, but without proper cross-border estate planning, legal complications and delays can arise.
Trust is an insurance broker’s ‘moat’ in the digital era
Santam’s Fanus Coetzee says the real value of an intermediary is not at sale, but when a client needs clarity, reassurance, and help after a loss.
FSCA probes complaint processes amid surprisingly low filing rates
A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
Moonstone Information Refinery marks 25 years of innovation and expertise
Celebrating a quarter-century of innovation, Moonstone Information Refinery has transformed from a niche newsletter into a multifaceted provider of business solutions.
Life insurers pay a record R639 billion in 2024
Sales of recurring-premium savings policies continued to improve, while lapses of risk policies declined.
Major setback for medical schemes in legal battle over low-cost options
The Board of Healthcare Funders says it will appeal after the High Court dismissed its application on procedural and substantive grounds.
Misclassified vehicle use – a reminder to provide adequate advice
An FSP failed to ensure that a client was made aware of the implications of modifying his policy, resulting in an insurance claim denial.
SARS’s enhanced compliance efforts add R301.5bn to revenue
The South African Revenue Service outperformed its revised estimates for 2024/25, buoyed by strong personal income tax, VAT, and company income tax collections.
CMS extends exemption for primary healthcare policies
Insurers are allowed to offer primary healthcare policies for an additional two years pending the finalisation of a framework for low-cost benefit options.
Health practitioners outline constitutional challenge to NHI Act
The SA Medical Association is particularly concerned about the Act’s impact on overburdened healthcare professionals, as well as patients’ ability to access treatment.
Medical schemes push ahead with case over Covid test pricing
The Competition Tribunal has dismissed key objections from major pathology laboratories, moving the medical schemes closer to having their damages claim heard in the High Court.
FIC seeks further input on guidance for money or value transfer service providers
The Financial Intelligence Centre has refined its draft PCC, addressing industry feedback on payment system operators, open- and closed-loop cards, and third-party payment services.
Reporting Directive for cross-border transactions issued
Directive 3A and PCC 50A set clear guidelines for accountable institutions on reporting international funds transfers and handling reporting failures.
Increase in penalty for late insurance returns
The FSCA has raised the maximum daily penalty for late submissions under insurance legislation by 4.39%.
New website will change the way FSPs interact with the FSCA
The revamped website will centralise all regulatory tools and services into one easy-to-navigate platform, making it simpler for FSPs to locate compliance information, verify credentials, and track enforcement actions.
The rand: more than meets the eye
Ahead of South Africa’s election, foreign asset managers increased their exposure as the 10-year bond yield gap reached 8%. Recent fluctuations, driven by speculative futures and options trading underscore the complex forces at play behind the rand’s performance.
SA leads in anti-money laundering in the real estate sector
The OREO Index, developed by leading anti-corruption experts, assesses the robustness of real estate data and anti-money laundering laws.
FSP pays R50 000 settlement because of missing record of advice
A complaint over a claim for stolen jewellery prompts the FAIS Ombud to emphasise the importance of maintaining a proper record of advice.
