The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
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The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
The FSCA has agreed to reconsider the R50 million penalty it imposed on Mirror Trading International (MTI) for conducting unregistered financial services business in contravention of the FAIS Act. The Financial Services Tribunal […]
As a result of the huge interest in the privacy governance segment of our Regulatory Update Webinar in February, Moonstone Compliance will be holding a series of webinars dealing specifically with this issue. […]
If you are at the receiving end of an adverse decision by a financial services regulator, you should make use of your right to request reasons for the decision, because this may result […]
The Supreme Court of Appeal’s “deeply disturbing” decision in the case of Municipal Employees’ Pension Fund vs Pandelani Midas Mudau puts at risk the accrued retirement benefits of millions of fund members, says […]
The Financial Services Tribunal has dismissed an application, with costs, by Overanet Investments to have the JSE reconsider its decision to refuse to cancel a share trade that, Overanet alleged, was entered into […]
The FSCA has given FSPs until 31 May to complete an electronic survey of their crypto-asset-related activities. The purpose of the survey is to assist the FSCA in obtaining a better understanding of […]
The Financial Services Tribunal has declined an FSP’s request for reconsideration of the FSCA’s refusal to exempt him from the Fit and Proper Requirements on the grounds of financial hardship. In 2020, George […]
A representative conspired with a client in an attempt to have the complaint against him withdrawn, the Financial Services Tribunal said in its decision to uphold his debarment. Sanlam Developing Markets (SDM) debarred […]
The Financial Services Tribunal has ordered the Pension Funds Adjudicator to reopen a complaint against Old Mutual involving the alleged conversion of a policy to an annuity without the client’s consent. The Adjudicator […]
The Constitutional Court has ruled that the Pension Funds Adjudicator has jurisdiction to hear cases where the complainant was unlawfully admitted as a member of a retirement fund. The court’s ruling clarifies how […]
The Ombudsman for Short-term Insurance (Osti) ruled that an expert’s findings on which the insurer relied to reject a claim were unreliable. The policyholder submitted a claim for storm damage to his jacuzzi’s […]
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 […]
A Johannesburg father who owes about R200 000 in maintenance for his children will not be able to get his hands on the proceeds of the sale of his house until he pays […]
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. […]
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 […]
