FSCA flags MyWealth Legatus
The Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.
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.
Sanlam to acquire majority stake in MultiChoice’s NMS Insurance Services
MultiChoice plans to use the up to R2.7 billion cash proceeds from the transaction for working capital purposes.
Why young South Africans can’t afford to skip insurance
During National Youth Month, Marius Kemp from Santam emphasises the importance of insurance for young people, who often lack emergency savings.
What medical scheme members should know about new financial reporting standards
The change is aimed at making the financial information of insurers more easily comparable across countries and industries.
Second round of consultations on beneficial ownership guidance
The Financial Intelligence Centre has published its responses to the comments it received during the first round of consultations.
Old Mutual’s chief executive is new ASISA chairman
Mahesh Cooper, Allan Gray’s chief operating officer, is appointed as deputy chairman.
SCA overturns precedent-setting cyber-crime judgment
The High Court’s judgment opened the door to unlimited claims against businesses whose clients suffered losses because of email interception.
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
Boost your financial planning career with MBSE’s triple-accredited postgraduate diploma
Enrolments are open until 1 July for the Postgraduate Diploma in Financial Planning, a qualification designed to elevate careers in holistic financial planning.
Sanlam flags increase in sickness and disability claims among younger policyholders
The group’s 2023 claim statistics also note the steady increase in pay-outs arising from pregnancy complications.
Alexforbes reports 16% asset surge, announces special dividend
Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
FSCA investigating Finbok trading platform after complaints about refunds
The Authority emphasises that the investigation is not complete, and it has made no findings to date.
Here’s how much SA institutions’ offshore allocations have grown
The SA Reserve Bank is concerned about the liquidity of the country’s financial markets and institutional investors’ exposure to government bonds.
High Court dismisses five-year battle over faulty car due to procedural missteps
An aggrieved purchaser must exhaust the dispute resolution mechanisms outlined in the Consumer Protection Act before approaching the courts.
SARB sanctions global bank for FICA non-compliance
The sanctions follow an inspection of the Bank of China’s Johannesburg branch three years ago.
Why I have turned bullish on South African assets
A comparison of current market behaviour with the pivotal 1994 election period points to the potential for a rally in the rand and financial shares.
