Are South Africans ready for the digital payment revolution?
The South African Reserve Bank’s inaugural Payments Study Report provides extensive insights into how the public perceives and uses various payment methods and instruments.
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.
ARB hears complaint about Naked Insurance’s ‘lose wait’ campaign
The ad’s play on words raises concerns over ‘insensitivity to weight-loss struggles’, but it does not violate the Code of Advertising Practice.
OUTsurance delivers strong financial results with 20.3% earnings growth
OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.
FSCA wants to know how much two-pot withdrawals are costing members
The Authority is seeking information on how much it costs retirement funds and administrators to adapt their systems for the new two-pot structure.
FAIS Ombud proposes increasing the KI and representative levy
FSPs will have to budget for an additional R32 per key individual or representative in the 2025/26 financial year.
Civil society frustrated by corruption-fighting information falling through the cracks
The Organisation Undoing Tax Abuse highlights the need for a centralised platform for sharing information to empower South Africa’s criminal justice system.
Regulator battles for data privacy: major cases against SARS, SAPS and IEC
The Information Regulator gives feedback on cases tackled this year against various public entities to enforce compliance with PAIA and POPIA.
Tribunal upholds debarment of underwriting manager over false claims
SASTUA says the former key individual issued policies under false pretences and submitted duplicate claims for the same items.
Single mother and sole breadwinner pleads for debarment to be lifted
Commercial insurance agent who was debarred for diverting premiums to her bank account asks to be allowed to make a fresh start.
The importance of having a valid will and proper estate planning
Without a legally sound will, an estate is distributed under intestate succession laws, which may not align with your wishes. Make sure your family is protected by drafting a will with the help of a financial adviser.
Express kidnapping: when disclosing banking details leads to financial loss
When a customer compromises their confidential banking details, they are usually held liable, but once the breach is reported, the bank becomes responsible for mitigating any further losses.
Adjudicator says levy increase will support operational independence
The Pension Funds Adjudicator is looking to implement a 4.7% increase in its levy, raising the cost to retirement funds by 49c per eligible member.
R4.1 billion in withdrawals: surge in two-pot claims highlights financial planning challenges
The introduction of the two-pot retirement system has triggered a wave of withdrawal applications, prompting concerns over tax liabilities and the need for improved financial education.
Navigating insurance exclusions: key lessons from the NFO’s rulings
Thoroughly reading and understanding insurance policies and exclusion clauses benefits both parties, leading to fairer and more equitable outcomes for everyone involved.
Court orders employer to disclose bank records in battle over contributions
The Mafube Local Municipality is accused of withholding nearly R38 million in employee retirement fund contributions.
Ruling highlights need for clear crop insurance policies in the face of climate risks
The insurer bears the risk of any uncertainty or inconsistency in policy documents.
FSCA and National Treasury urge financial sector to unite on financial education charter
CEOs and other decision-makers have just under three months to provide input on the Draft South African Financial Education Commitment Charter.
