Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
Compliance and Legislation
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Arrear contributions: 10 employers should not have been on the list
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
Financial watchdog cracks down on copy trading and fictitious policies
The FSCA reiterates that copy or mirror trading amounts to unlicensed discretionary FSP business.
Investigations uncover sale of funeral policies without underwriting
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.
Unlicensed crypto and OTC derivative providers in FSCA’s crosshairs
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
How the Authority arrived at a fine of R475 million
Jooste was more blameworthy than others because he deliberately contravened the law and was well qualified to understand his conduct’s implications, the FSCA says.
Markus Jooste fined R475m for publishing misleading Steinhoff financials
The FSCA is still waiting for him to make good on the reduced fine of R20m imposed in December 2022 for insider trading.
Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
FSCA to embed ‘consumer vulnerability’ in its approach to supervision and regulation
The Authority’s Statement on Consumer Vulnerability will inform its engagements with stakeholders, starting this year.
Authority fines another FSP for FICA non-compliance
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
FIC issues sanction notices to non-compliant law firms and estate agents
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
Not understanding tax residency may result in significant tax liabilities
You can break tax residency via the SARS tax emigration process or annually via the application of a double taxation agreement.
Restraints of trade: important principles for FSPs and advisers
The Labour Court upholds AdviceWorx’s application to enforce its restraint agreements against advisers who joined Wealth Associates.
Industry red-flags contradictions between Divorce Act and pension law amendments
The Association for Savings and Investment SA and the Institute of Retirement Funds Africa also call for amendments not related to the two-pot system to be held over.
Same falsified Uber receipts, but a different outcome at the Tribunal
There are differences in the circumstances surrounding the debarments and the reconsideration applications.
New earnings threshold takes effect on 1 April
If you earn above the threshold, certain provisions of three pieces of labour legislation no longer automatically apply.
