Two-pot withdrawals: taxpayers who understate their income face penalties
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
DBE to publish matric results amid R5 million fine for privacy breach
The Department of Basic Education is at risk of a R5 million fine for violating privacy laws, with ongoing debates over student consent and personal information protection.
‘Instructive remarks’ from the Constitutional Court on understatement penalties
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
Cybersecurity Awareness Month: small businesses must prioritise protection as cyberattacks surge
SMMEs serving critical infrastructure and global corporations, as well as those in regulated industries such as insurance, healthcare, banking, and credit monitoring, are particularly vulnerable.
Innocent mistake? Tribunal sides with FSP in confidentiality breach case
The rep claimed he never meant to harm the FSP, but the FST found his actions violated the FAIS Act and demonstrated a lack of integrity.
MTI liquidation: a global effort to recover crypto funds from a Ponzi scheme
Leveraging the Model Law on Cross-Border Insolvency, the liquidators co-ordinated with courts in the US, UK, and Australia, setting a precedent for future international crypto claims.
Tribunal criticises FSCA for missteps in oversight of retirement fund
The FST orders the FSCA to reconsider key decisions regarding the Municipal Employees Pension Fund, saying the regulator overstepped its authority.
FSCA to act against trustees who haven’t completed Training Toolkit
The Authority has issued a request for up-to-date information on trustees so it can check whether they are compliant.
Ombud Council’s first formally tabled report highlights reforms in financial dispute resolution
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Bestmed’s 2025 contribution hike is the biggest of top five open schemes
Bestmed says that rand for rand its benefit options will remain competitive despite the proposed average increase of 12.75%.
Retirement funds are the new ‘must-have’ – thanks to the two-pot system
The system is driving a shift in how members engage with their retirement funds. Members are monitoring their savings and reacting to market fluctuations, says Old Mutual.
Tribunal rejects adviser’s defence in confidentiality breach case
The adviser said she shared the client information to prove her remuneration when applying for a job with a competitor.
ASISA flags ‘problematic’ amendments to two-pot legislation
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
Law firm fires back at Road Accident Fund’s ‘malicious’ accusations
Spruyt Inc says the Fund’s claims of cruelty and misconduct are a reaction to its relentless pursuit of overdue payments for its indigent clients.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
NCT tells two suppliers to pay up after shoddy repairs and service violations
The Consumer Protection Act requires suppliers to perform services in a manner that meets the reasonable expectations of consumers.
Lukhaimane urges caution as litigation over beneficiary tracing continues
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
