Arrear contributions: 10 employers should not have been on the list
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
The contract went through 10 iterations between July 2019 and March 2020, with the term ‘infectious and contagious diseases’ variously in or out.
Read moreThe FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
Jooste was more blameworthy than others because he deliberately contravened the law and was well qualified to understand his conduct’s implications, the FSCA says.
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.
The BHF raises 10 issues, including the ‘misuse’ of curatorships, whether NHI is informing policy prematurely, and the absence of low-cost benefit options.
The FSP conflated the requirements for debarment under section 14 of the FAIS Act with the requirements and procedure for a debarment by the FSCA.
The National Financial Ombud’s jurisdiction will be expanded in phases to include the activities of all regulated financial institutions.
There is a high degree of consensus over the reform recommendations put forward by the World Bank Group, says Treasury.
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
The Authority’s findings in respect of an investigation have no legal consequences, the FST says.
The Ombud Council also provides an update on the status of the new FAIS Ombud rules.
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
Financial sector participants should take note of the differences between the NFO’s Rules and the rules of the existing ombud schemes.