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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
