ASISA flags ‘problematic’ amendments to two-pot legislation
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
SCOPA moves from hearings to hard choices on the RAF
The committee’s final report is expected to examine the legal consequences of former chief executive Collins Letsoalo’s refusal to appear before Parliament.
Law firm fires back at Road Accident Fund’s ‘malicious’ accusations
Spruyt Inc says the Fund’s claims of cruelty and misconduct are a reaction to its relentless pursuit of overdue payments for its indigent clients.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
NCT tells two suppliers to pay up after shoddy repairs and service violations
The Consumer Protection Act requires suppliers to perform services in a manner that meets the reasonable expectations of consumers.
Lukhaimane urges caution as litigation over beneficiary tracing continues
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
SARS is clamping down on undeclared crypto holdings and trades
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
FSCA sets aside R216m fine and 10-year debarment
The Authority has agreed to reconsider the penalties it imposed on ‘Coenie’ Botha, the founder of Coin Based Innovation Global.
Exam fraud: FSCA urges financial firms to verify RE certificates
FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.
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.
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.
