Satrix wins big at listed tracker awards
Satrix Managers walked off with nine of the 26 awards presented at the fifth annual South African Listed Tracker Awards (Salta) event on 30 March. This is the second year in which Satrix […]
Author: Mark Bechard
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Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
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Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
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Webinars on how to investigate misconduct and address poor performance
Asisa recommends that tax regime be left as it is when two-pot system is introduced
The Association for Savings and Investment South Africa (Asisa) says the tax regime for retirement savings should not be changed when the two-pot retirement system is introduced, but any changes should only be […]
Send me your complaints about healthcare brokers, says FAIS Ombud
The FAIS Ombud this week issued a media release encouraging medical scheme members to lodge a complaint with her office if they believe they have been “financially prejudiced” by a healthcare broker’s advice. […]
Regulator unhappy with TransUnion’s handling of data breach
TransUnion is directly contacting the individuals whose personal information it knows has been impacted by the hack reported over a week ago. This comes after the Information Regulator (IR) expressed its dissatisfaction with […]
Benefit increases for health insurance policies
National Treasury has published the benefit increases for health insurance policies that fall under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA) in terms of the Demarcation Regulations. The 2016 regulations […]
FIC continues to clamp down on motor dealerships
The Financial Intelligence Centre (FIC) continues to clamp down on motor vehicle dealers that don’t comply with the Financial Intelligence Centre Act. Earlier this month, the FIC imposed fines of almost R5 million […]
Payroll tax, surcharge on income tax will be considered to fund NHI
A payroll tax and a surcharge on personal income tax will be considered as additional sources of funding for National Health Insurance (NHI) once the necessary reforms “are ready”, the Department of Health’s […]
Basic income grant or NHI will result in tax increases, says Treasury
Large permanent increases in government spending, such as for a basic income grant or National Health Insurance (NHI), will have to be met by a permanent increase in revenue, which will mean higher […]
Adjudicator overstepped her authority in deciding that pension fund’s rule did not apply retrospectively
The Gauteng High Court has overturned a determination by the Pension Funds Adjudicator, ruling that she exceeded her jurisdiction and did not follow a fair procedure when deciding that a fund’s amended rule […]
Adjudicator has no jurisdiction over non-participating employers
Two recent applications before the Financial Services Tribunal – in which the facts of the cases were virtually identical – have highlighted that the Pension Funds Adjudicator does not have jurisdiction over complaints […]
FIC releases risk reports for Krugerrand dealers, estate agents and lawyers
The Financial Intelligence Centre (FIC) has issued three reports aimed at equipping Krugerrand dealers, estate agents and lawyers to understand and identify the potential money laundering and terrorism-financing risks they face. The FIC […]
Life insurers with the most and least satisfied customers
Absa Life has the most satisfied clients among the country’s major life insurers, according to Consulta’s latest South African Customer Satisfaction Index for Life Insurance. The index is based on a survey of […]
Policyholder triumphs over insurer’s tyre expert in tussle over vehicle claim
The Ombudsman for Short-term Insurance (Osti) found that the conclusions drawn by a tyre specialist could not be relied on to decline a policyholder’s claim. The insurer used the specialist’s findings to support […]
FIC fines Krugerrand, motor dealers more than R12 million
The Financial Intelligence Centre (FIC) this month imposed administrative sanctions against a Krugerrand dealer and seven motor vehicle dealerships for non-compliance with the Financial Intelligence Centre Act. The FIC said the imposition of […]
Cap on healthcare broker fees increases by 4%
The Minister of Health has approved an increase of slightly more than 4% in the maximum monthly fee payable to healthcare brokers. From 1 January, the maximum fee for introducing a member to […]
Dispute between KGA Life and Multisure goes to Supreme Court of Appeal
KGA Life has been granted leave to appeal the Eastern Cape High Court’s judgment that ordered it to release the group funeral scheme it underwrote for Multisure Corporation. It was hoped that the […]
Policyholders, investors ‘should be extra vigilant’ following TransUnion data breach
The Association for Savings and Investment South Africa (Asisa) has cautioned policyholders and investors to expect an increase in phishing attempts and approaches from criminals impersonating representatives from life insurers and investment companies […]
