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 Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
Sanlam Life and Fedgroup Life have become the latest life insurers to be fined by the SA Reserve Bank (SARB) for not complying with the Financial Intelligence Centre Act (FICA). Earlier this year, […]
Sanlam Life and Fedgroup Life have become the latest life insurers to be fined by the SA Reserve Bank (SARB) for not complying with the Financial Intelligence Centre Act (FICA). Earlier this year, […]
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
Insurers should put processes in place to ensure that funeral policyholders are alerted when their dependants turn 21 and no longer qualify for child-dependant status, the Office of the FAIS Ombud says. It […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
Insurance intermediaries should think twice before asking their clients to sign a power of attorney (POA), because doing so precludes them from entering into a binder agreement or invalidates an existing agreement. In […]
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
The FSCA publicly announced its enforcement order against Viceroy on 8 September, but it told journalists that it had informed Viceroy of its decision the previous week, which meant the clock had already […]
Financial Service Providers (FSPs) play a crucial gate keeping role through which entry to financial markets can be accessed. Unfortunately, criminals are aware of this access point, and seek to exploit vulnerabilities of […]
