The recent plea deal resulting in a 25-year prison sentence for Craig Warriner is under scrutiny for allegedly failing to serve the interests of justice and providing minimal benefit to the State beyond administrative closure.
The DPI applies to all FSPs excluding FSPs that are exclusively authorised to render financial services in respect of non-life insurance and/or health service benefits.
The standard, which replaces GOI 5, governs outsourcing by insurers from a prudential and a conduct perspective.
The Hawks and the Authority are still investigating whether any of the assets administered by N-e-FG can be recovered.
Impersonators who have knowledge of the Authority’s investigations into scams are using this information to extort money from victims.
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
The suspension of Global & Local’s licence relates to its relationship with BHI Trust, the FSCA confirms.
Jaco van Heerden, once a director at Medbond, is the managing director of Oceanfront Financial Solutions, whose FSP licence has been provisionally withdrawn.
The draft amendments address the misalignment between the current prescribed section 14 application forms and the upcoming two-pot regulations.
The decision clarifies the boundaries and regulations concerning reinsurance business conducted through cell captive structures.
The Authority instructs Hernell Funerals to cease operating as an unauthorised FSP and insurer.
The trustees advise ‘that a contribution will currently be levied against creditors until such time that sufficient recoveries are made for the benefit of creditors’.
A number of high-severity ransomware incidents hit insurers’ books in 2023, Aon South Africa’s 2024 Insurance State of the Market Report says.
‘Banks should not simply cite reputational risk; reasons must be concrete and consistently applied to prevent what might appear as arbitrary account closures.’
The Authority responds to media statements by entities claiming to be the first or only licensed institutions.
A tribute to a great friend of the industry and a champion of the work that compliance officers do.
The trading platform denies any involvement in the deepfake advertisements that circulated on social media.
