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Financial watchdog cracks down on copy trading and fictitious policies
The FSCA reiterates that copy or mirror trading amounts to unlicensed discretionary FSP business.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreThe FSCA reiterates that copy or mirror trading amounts to unlicensed discretionary FSP business.
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
A former Steinhoff executive appeared in the Specialised Commercial Crimes Court on Friday charged with fraud and racketeering.
Jooste was more blameworthy than others because he deliberately contravened the law and was well qualified to understand his conduct’s implications, the FSCA says.
The FSCA is still waiting for him to make good on the reduced fine of R20m imposed in December 2022 for insider trading.
The Authority’s Statement on Consumer Vulnerability will inform its engagements with stakeholders, starting this year.
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
When seeking compensation from an insurer because of alleged third-party negligence, the best course of action is to pursue the matter in court, the National Consumer Tribunal says.
The aim of the newly established panel to ensure that the perspectives and concerns of retail financial customers are effectively considered in the Authority’s activities.
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
Moonstone Business School of Excellence has three short courses that will improve your money management skills.
The governor of the Reserve Bank also says he is confident the country will get off the grey list in 2025.
The penalty is R8 215 a day, in terms of the Long-term Insurance Act or the Short-term Insurance Act.
The BHF raises 10 issues, including the ‘misuse’ of curatorships, whether NHI is informing policy prematurely, and the absence of low-cost benefit options.
The FSCA expects to receive a large number of amendments, so it would like to have prior sight of the proposed amendments beforehand.