RAF management dismissed warnings as ‘negativity’ while claims crisis deepened
Internal alerts on soaring payouts and mounting claims were dismissed as ‘negativity’, allowing the RAF’s operational and financial crisis to deepen, SCOPA is told.
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.
From OMNI-Risk to cyber risk – don’t miss Moonstone’s compliance webinar
Registration is open for Moonstone Compliance’s Regulatory Update Webinar on 12 November.
Income protection leads Bidvest claims as clients face higher short-term risks
According to Bidvest Life’s 2024 Claims Report, younger clients and women accounted for most income protection claims – signalling where advisers’ risk focus may need to shift.
Tribunal: A fund’s rules control savings component withdrawals
The fund would be acting ultra vires if it paid a savings withdrawal while the member’s and employer’s contributions remained unpaid.
Grocery store liable for shopper’s injuries despite disclaimer notices
A High Court ruling has confirmed that retailers can’t rely on disclaimer notices alone to avoid liability for customer injuries.
NHI Act | Sakeliga opposes Health Minister’s stay-and-consolidate application
The business group says the proposed stay will shield the Act from judicial review while allowing implementation to continue.
Why using the correct IRP5 source code matters for SA expats
Incorrect source codes trigger unnecessary tax for hundreds of expatriates. The result is lost refunds or large tax bills.
A puzzle of debt: former RAF CFO questions rationale for accounting shift
The Road Accident Fund’s former chief financial officer says even he struggled to understand why the Fund changed its accounting standard.
Infrastructure investor fined R1.7 million for FICA breaches
The FSCA identified serious lapses in Harith General Partners’ risk management, client due diligence, sanctions screening, and employee vetting.
MBSE’s Virtual Open Days include new BCom in Financial Management
Across three days in November, aspiring and current financial services professionals can explore MBSE’s suite of accredited qualifications.
Non-life insurers deliver strong performance in 2024 – KPMG survey
Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.
SA’s economic future looks bleak without reforms, global resilience index warns
South Africa’s relatively high-risk score reflects governance, security, and structural weaknesses, while its moderate resilience suggests the potential to recover – if reforms are pursued.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
SARB sanctions money transfer service for FICA non-compliance
The South African Reserve Bank cites deficiencies in Access Forex’s RMCP, customer verification, and staff training.
ASSA launches national Climate Index to guide risk management
South Africa now has a publicly available Climate Index, developed by actuaries and meteorologists, that tracks extreme weather events.
SA’s pension system holds firm on governance, falters on inclusion
The latest Mercer Global Pension Index says governments worldwide are attempting to steer private retirement fund assets into development goals.
SARB seizes vehicles and personal effects from Markus Jooste’s estate
The South African Reserve Bank declares five vehicles, jewellery, and art from the estate forfeit under the Exchange Control Regulations.
