Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
Appeals Board ruling puts Centriq–Dis-Chem partnership on the line
In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
FSCA to embed ‘consumer vulnerability’ in its approach to supervision and regulation
The Authority’s Statement on Consumer Vulnerability will inform its engagements with stakeholders, starting this year.
Authority fines another FSP for FICA non-compliance
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
Unpaid commission: High Court rejects FSP’s set-off defence
The insurance marketer was an independent contractor – no mutual indebtedness existed between him and TWK Agri.
An insurer is not a supplier under the Consumer Protection Act
When seeking compensation from an insurer because of alleged third-party negligence, the best course of action is to pursue the matter in court, the National Consumer Tribunal says.
High Court upholds joint liquidators’ role in MTI winding-up
The High Court ordered the applicants to pay punitive costs, saying their allegations were spurious and damaged the joint liquidators’ reputations.
Swix indices on the way out as JSE simplifies benchmarks
From this month, the ‘vanilla’ indices will adopt the same methodology and therefore have the same weightings as the Swix indices.
New initiative aims to ease home insurance challenges amid climate risks
A pioneering approach that integrates climate data with claims data is set to transform insurance risk management in South Africa.
Welcome news for companies in business rescue
SARS’s discretion to write off temporarily an amount of tax debt while a company is subject to business rescue will be reviewed.
Social media firestorm: what went wrong and how Old Mutual is responding
Old Mutual provides context to the Molefi complaint, and how the group is planning to address the alleged non-payment.
FIC issues sanction notices to non-compliant law firms and estate agents
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
FSCA launches advisory panel to represent retail consumers
The aim of the newly established panel to ensure that the perspectives and concerns of retail financial customers are effectively considered in the Authority’s activities.
More prosecutions essential to getting off grey list, says Treasury’s Momoniat
The absence of a successful prosecution of anyone named in the Zondo report is a big concern, Business Times reports.
Retail investors drive net inflows into hedge funds in 2023
Hedge funds saw robust inflows for the second consecutive year, according to recent data released by ASISA.
Five more years … Kganyago to stay on as SARB governor
The President also renews the terms of two deputy governors and appoints Mampho Modise to replace Kuben Naidoo.
Not understanding tax residency may result in significant tax liabilities
You can break tax residency via the SARS tax emigration process or annually via the application of a double taxation agreement.
Coronation wins global award for empowering women in finance
Coronation Fund Managers clinches the 2024 100 Women in Finance Europe, Middle East, and Africa Diversity, Equity, and Inclusion Award.
