Levies and fees weighed as PA prepares to regulate CISs and retirement funds
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
Fees
R300m a year: the price tag of administering the two-pot system
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
FSCA announces proposed levy increase for 2025/26
The increase is below the 6% CPI-related increase permitted by the Levies Act.
FSCA to implement fee increase in October
The FSCA will increase the fees it charges for various supervisory activities by 6% from tomorrow, 1 October.
Beware the tax impact on withdrawals from your savings ‘pot’
Avoiding the tax hit is one of the reasons retirement fund members should have an emergency fund.
Finance Minister publishes FSP levies for 2024/25
Entities supervised by the FSCA are in for an increase of 6%.
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.
Dispelling misconceptions about the two-pot retirement system
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
‘Outdated’ pricing structure is harming microlenders and consumers, says MFSA
The most recent revision to the maximum interest rates and fees that credit providers can charge was in November 2015.
Quality over quantity: growing your advisory firm without sacrificing client service
You can grow a profitable small advisory business by proactively limiting client numbers and improving client quality, research from the US suggests.
Sygnia advert’s claims about RA fees based on ‘virtually meaningless’ model
The Advertising Regulatory Board questions the relevance of a hypothetical model published by National Treasury 11 years ago.
How the independent financial adviser market fared in 2023
Insights from Ninety One on the sector’s investment flows, fee trends, and revenue growth.
The FAIS Ombud has some good news for FSPs
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
FSCA publishes draft 2024/25 budget for comment
In line with previous financial years, FSPs will be the main contributors to the Authority’s revenue from levies.
Ombud Council’s 2024/25 budget reflects shift to operational independence
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
FSCA warns of strong action against entities if Servcos contravene financial laws
Several investigations are looking into possible regulatory breaches by insurers, the Authority says.
FSCA sets out how intermediaries may be paid for RA fund transfers
Final version of guidance notice on intermediary remuneration published.
