SA nears grey list exit after complying with all 22 action items
South Africa now awaits an on-site visit by the FATF Africa Joint Group – paving the way for an anticipated exit from the grey list at the October plenary.
Author: Moonstone Information Refinery
Compliance trumps empowerment: decision to deregister co-operative bank upheld
The Tribunal agrees with the Prudential Authority that Women Building our Africa failed to meet the registration conditions and governance benchmarks.
No shortcut to dismissing foreign nationals without work visas
A valid work permit may be absent, but fair labour procedures must still be followed.
Reappointment, not a stopwatch: Tribunal on FSP debarment durations
Unlike FSCA-imposed bans with fixed terms, debarments driven by an FSP stay in force until another FSP is convinced a rep is Fit and Proper.
OMNI-CBR will be embedded in new supervisory technology platform
Financial institutions are advised to pause their internal Conduct of Business Return initiatives pending further communication from the FSCA.
Alexforbes sharpens retail focus as it posts double-digit growth across key metrics
Alexforbes has launched Alexforbes One, its third umbrella fund and first designed for both internal consultants and IFAs, marking a major step in its strategy to strengthen ties with advisers.
SCA remits case dealing with protection of insurance benefits from insolvency claims
At issue is whether a death benefit received by a surviving spouse is protected from the creditors of an insolvent joint estate.
Adjudicator asks FSCA to act against ‘unresponsive’ retirement fund
Muvhango Lukhaimane says the SALA Pension Fund’s refusal to engage with her Office’s enquiries constitutes a breach of the fund’s fiduciary obligations.
‘Droom Troue’: Tribunal orders R500 000 in penalties and refunds
The National Consumer Tribunal rules the Droom Troue competition was a sham, ordering refunds and fines after couples were misled into paying for a prize that never existed.
Court clarifies NCA application to suretyships in vehicle finance case
Sureties cannot rely on the National Credit Act if the principal debt falls outside its scope.
Can the SARB anchor inflation at 3% without hiking rates?
SARB economist Thuli Radebe explains how targeting lower inflation could ease borrowing costs and support growth – challenging fears that a 3% goal means more interest rate hikes.
HFA warns: NHI will slash healthcare, raise taxes, and drain the economy
The Health Funders Association, which represents nearly half of SA’s private healthcare market, is the latest organisation to launch a legal challenge against the NHI Act.
Court upholds arbitration clause in R423m business interruption dispute
The judgment reinforces the principle that the courts will uphold arbitration clauses where liability is not contested.
Life sentence for man who killed farmer for insurance pay-out
The court found that Francisco Erasmus befriended an elderly Oudtshoorn couple before plotting a brutal murder to claim life insurance benefits.
Medical malpractice on the rise: brokers’ role in managing healthcare risk
With malpractice claims escalating and legal costs climbing, brokers can help healthcare clients protect their reputations and structure cover that matches a complex liability environment.
Loans to settle divorce settlement sink microlender’s mutual bank application
The proposed CEO breached the Companies Act by allowing another company of which he was the sole shareholder to advance loans to him while it was insolvent.
Credit provider must engage ‘meaningfully’ with debtor – judgment
The High Court refuses Ford Credit’s request to repossess a vehicle, saying it did not fairly consider the debtor’s proposed repayment arrangement.
