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Employer found to be forcing member to sign away benefit under duress

27 June 2024 | PFA - Pension Fund Adjudicator

The Office of the Pension Funds Adjudicator has blocked an attempt by an employer to be paid a retirement benefit after the member had signed an acknowledgement of debt - which was found to have been done under duress - for committing fraud in the workplace.

Compliance about much more than dodging a FIC fine

27 June 2024 | General

Compliance and control officers who do not enjoy full buy-in from the business will end up fighting a losing battle. This no-nonsense prediction set the scene for an insightful discussion on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulatory framework, and South Africa’s progress towards getting removed from the Financial Action Task Force (FATF) grey list.

Complainants get R386-milllion back in insurance payouts

26 June 2024 | Insurance Ombudsman

The Ombudsman for Long-term Insurance (OLTI) and the Ombudsman for Short-term Insurance (OSTI) have published their last joint annual report for 2023, as they have now been incorporated into the National Financial Ombud Scheme South Africa (NFO).

Advisers, advice practices could trip up over COFI licensing rules

26 June 2024 | BEE (Black Empowerment)

Post-Apartheid South Africa is awash with new, race-based legislation that is introducing all manner of compliance challenges for the country’s small, medium and emerging enterprises (SMMEs). In extreme cases, as illustrated by the following account of alleged regulatory overreach, the entities responsible for implementing regulatory change risk causing serious harm to the economy and individual business owners.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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