The Municipal Employees Pension Fund (MEPF) and its administrator, Akani, have won another court case – this time in the Supreme Court of Appeal (SCA) – that upheld the retrospective application of an […]
Ninety One displaced Old Mutual Investment Group (OMIG) as South Africa’s biggest asset manager last year, with total assets under management (AUM) of R690.6 billion on behalf of South African clients at 30 […]
PSG Konsult’s recurring headline earnings rose 31% to R920.6 million in the year to the end of February 2022, as the financial services group continued its growth trajectory. Recurring headline earnings have grown […]
The Financial Services Tribunal has dismissed an application, with costs, by Overanet Investments to have the JSE reconsider its decision to refuse to cancel a share trade that, Overanet alleged, was entered into […]
The Financial Services Tribunal has declined an FSP’s request for reconsideration of the FSCA’s refusal to exempt him from the Fit and Proper Requirements on the grounds of financial hardship. In 2020, George […]
A representative conspired with a client in an attempt to have the complaint against him withdrawn, the Financial Services Tribunal said in its decision to uphold his debarment. Sanlam Developing Markets (SDM) debarred […]
The Financial Services Tribunal has ordered the Pension Funds Adjudicator to reopen a complaint against Old Mutual involving the alleged conversion of a policy to an annuity without the client’s consent. The Adjudicator […]
Old Mutual Insure has followed South Africa’s largest short-term insurer, Santam, in excluding certain types of non-physical damage from its business interruption cover, because it can no longer reinsure these events. Read: Santam […]
Some 60% of South Africans report having an insurance product, and insurance penetration, measured using premiums as a percentage of GDP, was 13.7% in 2020 – one of the highest in the world, […]
The number of retirement funds applying for liquidation increased by 21.5% between 2019 and 2020 because of financial distress as members’ contributions fell when employers cut salaries or laid-off staff and businesses closed […]
The South African Revenue Service (Sars) has searched the homes of employees in the gold and banking sectors as part of its investigations and audits into illicit financial flows and illicit trade in […]
The Constitutional Court has ruled that the Pension Funds Adjudicator has jurisdiction to hear cases where the complainant was unlawfully admitted as a member of a retirement fund. The court’s ruling clarifies how […]
The FSCA says it will continue to ensure that insurers adopt “a fair and balanced approach” towards premium increases, while taking into account the valuable role the insurance industry has played in difficult […]
The FSCA has fined the chief executive of Smart Billion Investments R10 million and debarred him for 10 years while another director was fined R500 000 and debarred for five years for contravening […]
Cyber security is getting closer to the boardroom, and it is only a matter of time before a failure to implement basic cyber security protocols will result in claims against directors and officers […]
National Treasury’s Asset and Liability Management Division officially launched its Top Up Retail Bond on 1 April, offering investors a return of 8.75%, with interest compounded quarterly, over a minimum investment term of […]
For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance […]
