Unpacking the strategic partnership between the FSCA and B-BBEE Commission
A failure to comply with specific BEE thresholds outlined in transformation plans could lead to the Authority withholding licences.
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.
Jooste’s death raises questions about the fate of seized assets and Steinhoff prosecution
A fiduciary expert discusses the legal complexities surrounding attached assets in the wake of Markus Jooste’s death.
Primary health insurance policies can be sold for another year
The exemption will remain in force for 12 months unless a decision is made on low-cost benefit options before 31 March 2025.
Veracity Markets hit with R10 million fine for unauthorised OTC trading
Nirvesh Financial Services was also penalised for failing to ensure that its representatives, Veracity and its directors, complied with the applicable laws.
FSCA fines MyWealth DIAS and MyWealth Method more than R73m
Investors were promised returns of up to 400%, but there was no legitimate financial product or investment activity, the FSCA says.
FSP top ups maturity value after Ombud finds investor was not properly advised
The complainant was aggrieved because he received R470 000 from the R700 000 put into an investment plan with income.
Tax collection in 2023/24 comes in at R10bn more than expected
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
FSCA only accepting e-Portal submission of financial statements and returns
The Authority will deem financial statements and other reports as outstanding until they are correctly captured and submitted on the FAIS e-Portal.
Updated risk assessments for estate agents and legal practitioners
The Financial Intelligence Centre has revised the reports first issued in March 2022.
RAF claims ‘out of ICU’, but hundreds of millions still owed to medical scheme clients
Despite Parliament’s commitment to prioritise the Road Accident Amendment Bill, there has been no further communication about the comments submitted on the draft legislation.
CBI director fined R216 million and debarred for 10 years
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
Unclaimed assets: FSCA will prioritise monitoring conflicts of interest
A new approach may be required to how financial institutions are remunerated for services rendered in respect of unclaimed assets, the Authority says.
Only days left to book for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
RAF’s legal rope nearing its end as High Court tells fund to pay R33 million
The recent ruling by the High Court underscores the Road Accident Fund’s obligation to reimburse medical scheme members for past medical expenses covered by the injured person’s medical scheme after a motor vehicle accident.
Stack up the evidence when claiming interest expenses
Taxpayers carrying on trade as an investment holding company should ensure they can demonstrate a high degree of involvement in the operations of the subsidiaries.
Old Mutual prepares to shake up banking sector with new bank
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
FIC issues guidance on what is ‘a high-value goods dealer’
A high-value good is an actual physical item, and facilitating the trade of high-value goods does not make one a HVGD.
