FSCA sets out how benefit transfers must be effected during transition to two pots
The Authority also publishes the proposed changes to the section 14 application forms for public consultation.
BHI Trust fallout widens as FSCA bans intermediary for 20 years
The FSCA’s latest action highlights the regulatory risks for individuals who may have been linked to the BHI Trust scheme.
FSP alleges rep not financially sound because he missed car repayments
The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.
No annual premium increases on our new life product, says Capitec
The bank promises a quick and easy application process and no 30-page documents containing complex jargon.
Steinhoff’s former chief financial officer appears in court
The retailer’s former head of legal, Stephanus Grobler, appeared in the dock with Ben la Grange.
Insurers push for trackers as theft of high-end vehicles surges
According to the latest SAPS crime statistics, there were 5 973 carjackings in the fourth quarter of 2023.
SA-born trader gets probation and $1m fine for manipulating exchange rate
The sentence was influenced by the judge’s view that Morgan Stanley was familiar with the risks of the unregulated foreign exchange spot market.
SCA rules on an arbitrator’s powers in disputes over arrear maintenance
The appellant contended that the arbitration clause in the settlement agreement conflicted with section 2(a) of the Arbitration Act.
Ransomware attack at National Health Laboratory Service
The automated digital system for sending laboratory reports to clinicians was disabled.
Bullish on gold
The price of gold has risen amid geopolitical tensions and buying by central banks, decoupling from traditional indicators such as TIPS and ETFs.
Classic Financial Services director and wife’s R66m gambling spree
The estates of the son and former wife of the director of Classic Financial Services have been sequestrated.
Constitutional Court’s ruling in tax dispute a relief for SA multinationals
Coronation withdraws cautionary to shareholders following victory in litigation with SARS over the foreign business establishment tax exemption.
Discovery Health says Road Accident Fund is in breach of court order
In 2022, the High Court ruled that the fund could not withhold payments for past medical expenses covered by medical schemes.
Investigation calls into question the narratives used to support NHI
BHF-commissioned study identifies 11 assertions made about private healthcare and medical schemes that lack foundation.
FSCA to launch retirement fund education campaign
The FSCA encourages members of retirement funds to check whether their employer is in arrears with their contributions.
Critical illness: Momentum Life Insurance urges comprehensive coverage planning
Momentum’s 2023 statistics show that 57% of death benefit claims were due to cardiac and cancer events, yet less than 81% of these claimants had critical illness cover.
SCA rules on composition of Financial Services Tribunal panels
Litigation between Trustco and the JSE over the group’s financial statements.
Master accepts R1.5bn in creditor claims in BHI Trust scam
The joint trustees’ attorneys are sending letters demanding repayment from creditors who received over R300m in preferential payments in the six months before sequestration.
