Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
FIC to launch inspections on CASPs amid growing regulatory scrutiny
The Financial Intelligence Centre’s sector final risk assessment report for crypto asset service providers is set to be published in the new financial year.
SAIPA chief executive is not taking his dismissal lying down
Shahied Daniels has accused the accountancy organisation’s board of irregularities and says he intends to challenge his dismissal.
Steinhoff’s fall: former CFO Ben la Grange sentenced
La Grange was sentenced to 10 years in prison, with five years suspended contingent on his co-operation with the State in future cases involving Steinhoff’s executives.
HSBC and Bidvest hit with fines for FICA non-compliance
The fines on both banks run into millions of rands, but most of the penalties are conditionally suspended.
Sanlam wins appeal as High Court enforces policy’s contractual terms
The High Court overturns a Regional Court’s decision that allowed a policyholder to cancel her five-year endowment policy early.
RAF makes noise while silence reigns on draft Road Accident Amendment Bill
Judgment is ‘forthcoming’ in the contempt of court case against the Road Accident Fund and its CEO, as Discovery Health seeks the enforcement of court rulings regarding unpaid claims.
Rise in complaints about medical schemes clawing back losses allegedly linked to fraud and waste
Schemes and healthcare professionals are at odds over whether these recoveries are justified, says the Council for Medical Schemes.
Constitutional Court clarifies CGT in multi-tier trust arrangements
The court’s interpretation and application of the conduit principle has implications for structures involving layers of multiple discretionary trusts.
Total of R5.3m frozen as court issues second order in ‘pyramid scheme’ case
The National Consumer Commission claims the scheme misled participants with false promises of grocery rewards and high returns.
As medical schemes announce hikes, members brace for tough choices amid rising costs
With major medical schemes reporting average contribution hikes exceeding 9%, members face tough choices in an increasingly unaffordable healthcare landscape.
Small FSP that was fined R1.1m shares four lessons in FICA compliance
The owner of MIKA Finansiele Dienste emphasises that waiting for an audit before getting your house in order can have costly consequences.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
Squirrelling away financial wisdom: children’s books make money smarts fun
During Financial Planning Week, Moonstone Business School of Excellence applauds Foord’s initiative to promote financial literacy among young children.
Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
