FSCA imposes R3m fine on Ninety One for FICA lapses
An inspection identified inadequate implementation of the RMCP and deficient customer due diligence processes.
AI + empathy: why financial advice’s future is human at heart
Momentum CEO Jeanette Marais says the future of scalable, effective financial advice lies in blending smart tech with emotional intelligence.
MBSE opens virtual doors to aspiring financial professionals
Moonstone Business School of Excellence is hosting Virtual Open Days from 13 to 15 May.
Bitcoin adoption: increasingly part of my investment portfolio
Net cumulative purchases via pure Bitcoin ETFs have surged 2.5-fold since mid-March. This influx underscores growing institutional conviction in Bitcoin as a core portfolio allocation.
Most financial planners are positive about impact of AI – global survey
Research by the Financial Planning Standards Board finds 64% of advisers are already using or piloting AI tools to streamline client communications and workflows.
Ithala resumes operations – but still can’t take deposits
Ithala has been cleared to resume core operations – excluding deposit-taking – while legal battles over its liquidation and frozen R2.47bn in deposits continue.
Bundled credit insurance ruled unlawful for consumers who can’t claim
Selling credit life insurance with retrenchment and disability cover to pensioners and disabled persons – who cannot meet the claim requirements – breaches the National Credit Act.
Old Mutual’s new CEO will bring decades of financial sector experience to the role
Jurie Strydom, whose résumé includes leadership roles at Sanlam and Regent Insurance, will work alongside outgoing CEO Iain Williamson.
Navigating the retirement age maze: a practical guide for employers
Synchronising employment agreements with the rules of occupational retirement funds promotes legal certainty, secures employee benefits, and smooths succession planning.
FSCA’s three-year regulatory strategy anchored in COFI roll-out
A revamped licensing schedule and an enhanced Integrated Regulatory Solution platform will form the backbone of COFI-aligned supervision.
Equity targets spark fears of ‘unjust’ penalties for employers
The DA’s court challenge to the Employment Equity Amendment Act highlights not only constitutional questions but also the risk that inflexible sectoral targets and under-resourced bureaucracy will penalise even deserving employers.
FIC calls on businesses to take their RMCP obligations seriously
The Centre, through inspections and compliance monitoring, will test an RMCP against the legislative requirements.
Three-quarters of withdrawals in the new tax year are repeat claims
Many fund members are tapping into their savings components as soon as the tax window opens, data from the Actuarial Society indicates.
High Court orders Ramaphosa to disclose NHI signing record
The President must produce the full record of his decision-making when assenting to the NHI Bill after the court rejected arguments that such records fall outside judicial review.
Bank held liable for R2.1 million paid to fraudulent ‘executor’
A High Court ruling notes procedural failures at Standard Bank’s deceased estates department – highlighting that banks must verify and act only on valid letters of executorship.
FSCA investigating banks’ transaction fees
The Authority has found wide discrepancies in charges for similar services across banks, says Godongwana.
Retirement funds can’t use POPIA to withhold information from the Adjudicator
PAIA and POPIA should not be misused to hide inadequate investigations into dependants’ claims.
Dual‐citizenship ban ruled unconstitutional after 30 years
The Constitutional Court declares invalid the section of the South African Citizenship Act that automatically revoked citizenship upon acquisition of another nationality.
