Labour law reforms mulled to clamp down on arrear contributions
The government, business, and labour are working together at Nedlac to address employers’ non-compliance with payments to retirement funds.
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Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
Treasury proposes new framework to regulate hedge funds outside CIS
The proposal is for hedge funds to be subject to a different tax regime, potentially removing the ‘revenue versus capital distinction’ that causes tax uncertainty.
FSCA provides an update on progress with the move to COFI
The Authority’s latest three-year Regulation Plan does not specify by when the three-phase transition project will be completed.
Arrear contributions: publishing employers’ names ‘is having an impact’
Deputy commissioner sets out the FSCA’s priorities for the supervision and regulation of the retirement industry.
Existing financial ombud system is ‘too complex’ for consumers to navigate
There is a high degree of consensus over the reform recommendations put forward by the World Bank Group, says Treasury.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
Urgent need to close regulatory gaps in over-the-counter markets, says FSCA
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
