SARB sanctions insurers and bank for FICA breaches
The non-compliance was discovered during inspections by the Prudential Authority in 2020 and 2022.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
Sasfin fined R160m for ‘non-compliance’ by discontinued forex business
The bank also faces a R4.9bn claim arising from SARS’s alleged inability to collect taxes and penalties from former foreign exchange clients.
Why younger drivers choose higher car insurance excesses
Understanding how an excess works can help to strike a balance between minimising risks and saving on premiums.
Navigating insurance policies: how brokers can help prevent claim rejections
Tarina Vlok, MD of Elite Risk Acceptances, explains the importance of educating policyholders about their insurance coverage and exclusions.
SARS clarifies change to retirement fund contribution deduction
If a person’s year of assessment is less than 12 months, the allowable retirement contribution deduction will be applied pro rata.
Why retirement fund trustees should pay attention to the newly signed Companies Amendment Bills
The Companies Amendment Bills impose crucial changes to remuneration disclosure and shareholder approval that trustees must integrate into their governance practices.
Will medical schemes adhere to an inflation-linked tariff hike?
The Council for Medical Schemes has advised medical schemes to limit their contribution increases for 2025 to 4.4% plus ‘reasonable’ utilisation estimates.
How the two-pot system may impact household income and inflation
Economists assess the possible impact of the reforms on household consumption, real fixed investment, inflation, government debt, and GDP growth.
How bank errors and unseen fees impacted customers
The OBS’s 2023 annual report unveils chargeback disputes, hidden fees, and administrative failures.
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.
