FirstRand won’t challenge FCA motor-finance redress scheme
The group rules out litigation, despite maintaining that the scheme is unfair and disproportionate.
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FirstRand welcomes core ruling in UK commissions case
The group may have to adjust its R3.3bn litigation provision to accommodate the criteria of the regulator’s proposed redress scheme.
High Court slams SARB over R200m block on Steinhoff successor’s funds
Judge finds the Reserve Bank acted without evidence or legal basis in freezing funds Ibex needed to repay offshore creditors.
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Appeal on appeal: Competition Commission shows its tenacity in rand-fixing case
The appeal will leave it up to the Constitutional Court to decide whether the competition authorities can investigate and prosecute foreign-based firms.
Ready to be heard, says Investec in rand-fixing case
Investec has expressed its readiness to present its case in the Competition Tribunal after the Competition Appeal Court dismissed the rand-fixing case against several banks, including Standard Bank, FirstRand, and Nedbank, this week.
Thursday briefing: a round-up of recent financial services news
New limits for allowances | Grey-listing will last ‘for years’ | Grey-listing, blackouts ‘eroding SA’s status’ | Rand manipulation case.
Monday briefing: a round-up of recent financial services news
FSCA’s risk-based approach | Medical scheme in liquidation | CIPC to collect beneficial ownership info | SA ties with Russia ‘a risk’
State can’t meet SA’s social and economic needs, says FirstRand’s chairperson
It’s time for the government to admit that collaboration with the private sector is the key to development and growth, says Jardine.
