How bank errors and unseen fees impacted customers
The OBS’s 2023 annual report unveils chargeback disputes, hidden fees, and administrative failures.
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
Considering annuity options if inflation surges during retirement
Coronation looks at whether a life or a living annuity is more likely to protect a retiree’s income if we enter a high-inflation environment.
Tribunal ruling underscores directors’ obligations regarding financial statements
FST upholds the JSE’s decision to fine Tongaat Hulett’s former CFO R6m and bar him from holding office as a director of a listed company for 10 years.
National Consumer Tribunal fines more second-hand car dealers for violating consumers’ rights
The Consumer Protection Act prescribes that consumers receive goods that are fit for their intended purpose, of good quality, and durable for a reasonable time.
Important aspects of the Companies Amendment Acts
The Companies Amendment Act provides for more disclosure by companies, and the Companies Second Amendment Act extends the time bars to applications for director delinquency and proceedings to recover loss due to director liability.
Medical scheme placed under statutory management as reserves plummet
The deterioration in Sizwe Hosmed’s reserves is attributed to ‘benefit under-pricing and historically unreliable budgetary and forecasting processes’.
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Bid to have RAF CEO sentenced to ‘suspended imprisonment’ for unpaid debts fails
A challenge to the RAF’s failings must consider the complex inter-governmental duties on which the social security scheme depends, judge says.
How MBSE shaped the careers of three rising stars in short-term insurance
The top three achievers in MBSE’s Higher Certificate in Short-term Insurance share their experience with the course and its impact on their careers.
Ombudsman’s report unveils banking blunders and customer missteps
The cases dealt with by the banking ombudsman last year included a home auctioned for far below its value and fraud linked to a stolen phone.
Adapt, be curious, and embrace change, says FPI award finalist
René van de Spreng, a wealth manager and director at Apex Private Wealth, is one of three finalists for the 2024 Financial Planner of the Year Award.
South Africans are feeling a lot better about their finances – survey
The latest Old Mutual Savings & Investment Monitor finds a decrease in households dipping into their savings and cashing in their investments early.
Tribunal upholds FSCA’s debarment of adviser accused of stealing clients’ money
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
Recording of Moonstone Compliance’s FICA webinar is available
Moonstone Compliance offers a range of services in respect of FICA and anti-money laundering compliance aimed at accountable institutions.
FSCA notices in respect of competency/fee and FAIS Act exemptions
The Authority also agrees to reconsider its decisions to withdraw the licences of four entities.
Why I turned mildly bearish and opted for a defensive strategy
The formation of the GNU sparked a rally in local financial markets. But as storm clouds gather on global equity markets, the long-term outlook remains uncertain.
Immediate resignation following bonus no reason for debarment, Tribunal rules
The FST finds that the FSP’s attempt to use debarment as a tool to resolve an employment dispute is a misuse of the FAIS Act’s provisions.
