Uncloaking the mysteries of financial sector penalties
The huge penalties imposed by the FSCA and the Prudential Authority raise questions about the clarity and consistency of the factors influencing these fines.
Penalties
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
Banks defend lending criteria amid accusations of discrimination
The government takes banks to task over what it sees as unfair lending practices, proposing mandatory disclosures of declined home loans.
Time’s ticking for provisional taxpayers to submit Income Tax Returns
With just days left for provisional taxpayers to submit their returns, here is what they need to know to navigate the essentials and avoid penalties.
What you should know about objecting to VAT penalties
Meanwhile, a change in the VAT registration process may inconvenience taxpayers.
What are the statutory obligations of dormant companies?
A failure to file tax returns may result in penalties, for which the directors may be held personally liable.
Objecting to an auto-assessment can result in ‘unexpected’ penalties
Taxpayers should take note of the period within which they must submit a full and true return or relevant material.
Behind the scenes of an FSCA investigation
Moonstone recently reported on the regulatory action the FSCA has taken against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. For […]
Now Sars can penalise you if you have only one outstanding tax return
As the 23 November deadline looms for non-provisional taxpayers, the South African Revenue Service (Sars) warns it has more scope to impose penalties on taxpayers who do not submit their returns on time. […]
Factors impacting on Administrative Penalties imposed by FSCA
We have in the past raised concerns about how the quantum of such fines were determined. A recent ruling by the Financial Services Tribunal provides legal clarity on the matter. Section 167(1) of […]
