FIC tightens crypto asset compliance with ‘travel rule’ directive
Starting 30 April 2025, CASPs and FSPs will have to collect and share detailed client information when engaging in crypto transfers.
FSCA’s three-year regulatory strategy anchored in COFI roll-out
A revamped licensing schedule and an enhanced Integrated Regulatory Solution platform will form the backbone of COFI-aligned supervision.
New chief executive and Registrar appointed for the Council for Medical Schemes
Dr Musa Gumede steps into the role of Registrar of the CMS, succeeding Dr Sipho Kabane, whose tenure was marked by significant challenges and critical industry reforms.
Banxso v FSCA over links to deepfake adverts
The Authority challenges Banxso’s claim that it is not connected to Immediate Matrix’s deepfake adverts.
Bank fraud: FICA doesn’t create a private law right to third-party damages
A couple who were victims of business email compromise argued that FICA imposed a private law duty on Nedbank to protect them from financial harm.
CPA amendments: will financial services face stricter direct marketing rules?
Experts weigh in the impact on financial services of a proposed opt-out registry to protect consumers from unwanted marketing.
FSCA refutes claim of Banxso licence reinstatement amid ongoing investigation
The liquidation application against Banxso claims that the number of clients deceived by the deepfake adverts is far greater than previously reported.
Debtor carries the risk, says High Court in ruling on cyber-fraud liability
The judgment highlights that confirming payment details is essential to avoid financial loss.
How to avoid the post-holiday debt hangover: budgeting tips for a stress-free new year
Instead of treating a year-end bonus as disposable income, incorporate it into your financial planning by focusing on debt repayment, savings, or long-term investments such as further education.
SIU investigation to uncover irregular claims from 2021 unrest
SASRIA says the proclamation issued by President Ramaphosa follows its request for assistance from the Special Investigating Unit.
R7.7m fine stands as FIC Appeal Board rules against law firm
The firm of attorneys said its non-compliance was not intentional and was the result of a lack of awareness.
Treasury analysing SARS data in considering a possible wealth tax
MPs are also told that the fiscus cannot afford a permanent and expanded Social Relief of Distress grant without tax increases.
Corporate taxpayers sceptical of SARS’s service delivery gains
Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
Dispute over cancelled policy: FST orders FAIS Ombud to reconsider decision
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
Pension Funds Act amendments spark uncertainty over divorce and maintenance deductions
There is a legal grey area over the calculation of pension interest in divorce settlements and whether funds may now be permitted to make deductions for future maintenance orders.
Auto & General’s Knysna fires advert is not offensive, says ARB
Insurance advertising often addresses personal experiences of loss and hardship, so they are likely to trigger strong emotional responses, the Board says.
Tax Ombud flags SARS delays in meeting resolution deadlines
The Tax Ombud’s 2023/24 report highlights delays in SARS meeting resolution deadlines, an increase in complaints, and a concerning rise in eFiling profile hijacking.
Is the FSCA preparing for auto-enrolment to expand retirement coverage?
After years of stalled progress, the FSCA’s recent comments suggest National Treasury may renew its push for auto-enrolment.
