Africa
South Africa delays financial regulator overhaul
Changes that would have seen South Africa’s Financial Services Board (FSB) rebranded, handed a new mandate, and the introduction of a ‘Twin Peaks’ regulatory system have been postponed.
South Africa budget targets high earners with top rate hike
South Africa finance minister Pravin Gordhan has announced a new top tax bracket of 45% in his 2017 Budget.
South Africa’s Lombard Life fined by regulator
The Financial Services Board (FBS) of South Africa has fined Lombard Life for not complying with rules about informing policyholders of their right to appeal after the company rejected their claims.
Ex-boss of £6m S. African scam fund loses ban appeal
South Africa’s financial services regulator has dismissed an appeal to overturn the ban of the former boss of collapsed asset manager Interneuron, which swindled investors out of R100m (£5.9m, $7.4m, €6.9m).
DeVere Acuma admits not disclosing commission in S Africa
South African advisory firm deVere Acuma has confirmed that it did not disclose commission charges of nearly £65,000 ($81,114, €75,198) taken from a client’s portfolio over four years, reports local news feed Moneyweb.