Mark Bechard – Page 10 – Moonstone Information Refinery

Key regulatory and compliance developments: looking back at 2024 and what’s ahead in 2025

In response, Prosper says various factors that contributed to the dispute have not received the required consideration.

Prudential Authority fined them an effective R2.688m for contraventions of the Short-term Insurance Act and the Insurance Act.

How does section 218 of the Financial Sector Regulation Act define what ‘a decision’ is?

A single act of dishonesty, incompetence, mismanagement or negligence may not by itself be grounds for debarment.

Summit claims ‘routine’ abuse of the exception to the Minimum Expense Norms table when assessing whether consumers can afford credit.

High Court considers the extent of the retirement fund’s investigation into the dependants.

Transnet took Santam to court to recover the costs of rehabilitating soil contaminated after thieves broke into a fuel pipeline.

The FSCA had already reduced the penalties and dropped the intention to debar for 10 years.

Financial Services Tribunal considers the Adjudicator’s powers relating to section 14 transfers

Tribunal was ‘not afforded the courtesy’ of an explanation for the ombud’s failure to respond to questions from the deputy chairperson.

Tribunal repeats its previous ‘recommendation’ that the FAIS Ombud obtain oral and expert evidence to resolve the disputes of fact.

Stringent compliance obligations await if it is, but there’ll be a transitional period for new sectors.

Referring clients to another broker does not constitute advice for the purposes of the FAIS Act.

And how the Financial Services Tribunal assesses whether the fine was appropriate.

It explicitly places an onus on retirement funds to alert employers of their obligations under the Pension Funds Act.

Eight interesting things, including an update on long-standing property syndication complaints.

Therefore, current 8.5% of GDP spent on healthcare resources will be enough to fund NHI, Parliament told.