Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
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National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
Multisure Corporation’s attempt bring into operation the High Court order cancelling its intermediary agreement with KGA Life has failed, despite a successful High Court ruling last month, because KGA has been granted leave […]
The FSCA this week published a media release providing a short summary of the content covered in its financial soundness workshop for FSPs that collect premiums or hold assets. The online workshop was […]
Minister of Finance Enoch Godongwana has appointed Thobile Masina as the new acting FAIS Ombud. Masina was the assistant ombud since October 2017. She replaces Advocate Nonku Tshombe, who acted in the position […]
A decision by a pension fund was referred to the Pension Funds Adjudicator’s office, and subsequently to the Financial Services Tribunal by the disgruntled siblings of the deceased. Background After the death of […]
The South African Revenue Service (Sars) collected an additional R3 billion through its voluntary disclosure programme (VDP) and prevented tax leakage of another R865 million during the 2021 tax year. However, the latest […]
The publication of the final amendments to Joint Standard 1 of 2020 by the FSCA means that the significant owners of FSPs must now comply with the honesty and integrity requirement from which […]
The recently published code that aims to eliminate all forms of workplace harassment will come under the spotlight in the first webinar to be hosted by Moonstone Compliance’s new Employment Law Service. The […]
The FSCA has approved amendments to the JSE’s Listings Requirements to enable the listing of actively managed exchange-traded funds (ETFs). The approval was published in the Government Gazette on 9 September, and the […]
The FSCA last week published two notices relating to the guarantee, professional indemnity (PI) and fidelity insurance (FI) exemptions granted to certain types of FSPs. The FSCA has once again extended, to 31 […]
The FSCA has fined the directors of the Praesidium Group a total of R29 million and debarred them for between 10 and 20 years after its investigation into the group’s entities found they […]
The Financial Services Tribunal (FST) has decided that a retirement fund was correct in refusing to deduct a judgment debt from the withdrawal benefit of a former employee whose negligent or reckless driving […]
In District Six, the musical, one of the songs asks: The law, the law, the law. What for? The answer comes from Kris Kristofersson: The law is for protection of the people. After […]
The Information Regulator (IR) says its online portals for the registration of information officers and the submission of Promotion of Access to Information Act (PAIA) reports have gone live. Information officers who are […]
Life insurers will have to incorporate beneficiaries as a risk factor when determining a client’s overall money laundering and terrorist financing (ML/TF) risk, according to a proposed directive published for comment by the […]
The Financial Intelligence Centre (FIC) has published a document to guide designated non-financial businesses and professions (DNFBPs) in developing and implementing their risk management and compliance programmes (RMCPs). Public Compliance Communication (PCC) 53 […]
