Sygnia wins appeal over advert’s claims about RA fees
The independent modelling submitted by Sygnia made it clear that the claims in the advert are mathematically and factually accurate.
Ithala pulled back from the edge, but its future remains in doubt
The Prudential Authority has withdrawn its liquidation bid after progress on depositor repayments, but Ithala is still unlicensed and cannot resume deposit-taking.
Organisations won’t sign Presidential Health Compact because it endorses NHI Act
Business Unity South Africa and the South African Medical Association are unhappy about references to NHI in the document.
‘Two-pot system will produce better outcomes for those who avoid the risks’
The type of fund to which a member belongs may improve or undermine the preservation of retirement fund assets, says Allan Gray.
Government seems to back away from prescribed assets
The FSCA says prescribed assets will compromise the fiduciary duty of retirement fund trustees.
Former FNB employee sentenced to prison for R6.4m fraud
The syndicate gained unauthorised access to two accounts belonging to a German national on multiple occasions.
FIC publishes finalised guidance on beneficial ownership
Public Compliance Communication 59 has been issued following two rounds of public consultation.
‘Do not panic, look out for opportunities, but stick to your risk budget’
The US economy is giving off mixed signals, and the big question is whether it will slip into a recession or manage a soft landing.
Liberty asks for prison term for ‘threatening and derogatory’ email campaign
The man persisted with his abusive emails despite being found in contempt of court twice and being sentenced to a period of direct imprisonment.
Lara Warburton: from unplanned paths to financial planner of the year
The 2023 FPI Financial Planner of the Year reflects on her career and shares some advice for young professionals entering the industry.
Animated video explains the two-pot retirement system
It is accompanied by three brochures that unpack different aspects of the two-pot system in more detail.
Tweaking needed to tighten anti-avoidance rules on loans to trusts
The draft Taxation Laws Amendment Bill addresses a critical anomaly in trust anti-avoidance legislation. By narrowing the transfer pricing exemption, the Bill ensures that only the correct portion of cross-border trust loans escapes double taxation.
Broker debarred for adding property to policy after it was set on fire
The house, which belonged to the broker’s brother, was set alight after the sheriff served an eviction letter on the occupant.
When does the countdown for tracing a fund member’s dependants start?
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
Momentum’s NHI cost estimate is ‘mathematical hooliganism’, says Health Minister
Aaron Motsoaledi wants to engage with with stakeholders who are in favour of universal health coverage but have objections to the NHI Act.
Two-pot retirement system – don’t be the weakest link
As the two-pot retirement system goes live on 1 September, intermediaries must prepare to guide clients through the new structure.
Four key disconnects between advisers and female clients
A recent study by Schroders and Ad Lucem highlights significant challenges and opportunities for advisers to address the evolving needs of female clients.
SARB sanctions insurers and bank for FICA breaches
The non-compliance was discovered during inspections by the Prudential Authority in 2020 and 2022.
