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A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process? Celebrating a quarter-century of innovation, Moonstone Information Refinery has transformed from a niche newsletter int
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News
Behind the rewards, a much bigger Vitality business
1+ week, 3+ hour ago (1387+ words) The Vitality most customers know is the one that rewards them for going to the gym, walking more, driving safely, or making other healthy choices. There are discounts, benefits, and incentives along the way. But that is only the part…...
Why did one law firm get 90% of RAF Corporate Panel work?
1+ week, 4+ day ago (1439+ words) One of the law firms appointed by the Road Accident Fund to its 2020 Corporate Panel was not even on the panel from which the firms were supposed to be selected. It was then allocated almost 90% of the work. The finding…...
RE1 is just the start of the Key Individual journey
1+ week, 4+ day ago (695+ words) For professionals considering a move into a Key Individual role, passing the regulatory examination for Key Individuals (RE1) is an important milestone – but it is only one part of the Fit and Proper requirements that may apply. Following the launch of…...
RAF???s 25% contingency-fee cap under scrutiny
1+ week, 4+ day ago (1375+ words) The Standing Committee on Public Accounts (SCOPA) has questioned whether the 25% cap on contingency fees in Road Accident Fund claims is too high. In its RAF Enquiry Draft Report: Legal Costs shared last week, the committee says the cap creates…...
IRFA elects new leadership as Andrews takes the chair
1+ week, 4+ day ago (657+ words) The Institute of Retirement Funds Africa (IRFA) has confirmed its eight-member board, with Nancy Andrews (pictured) taking over as chairperson and Cedrick Pila elected as vice-chairperson. The appointments were made at a board meeting on 28 August, following the confirmation of…...
Treasury???s strategy for unclaimed benefits???conflates two separate issues???
2+ week, 3+ hour ago (328+ words) Reaction from the financial services industry to National Treasury’s recent paper “A Framework to Centralise Unclaimed Benefits in South Africa” reflects a long-held, prevailing view by the industry: the centralised administration of certain classes of unclaimed assets may be necessary…...
ConCourt settles the test for competition authorities??? jurisdiction over foreign banks
2+ week, 4+ hour ago (698+ words) For more than a decade, the question of whether South Africa’s competition authorities have the power to prosecute foreign companies for alleged anticompetitive conduct occurring entirely offshore remained contentious. The Constitutional Court answered this question in a unanimous judgment by…...
FSCA warns: Check who is behind the FSP name
2+ week, 4+ hour ago (869+ words) The Financial Sector Conduct Authority has issued a series of warnings about individuals allegedly impersonating established financial institutions and authorised financial services providers, as well as entities and individuals that are not authorised to provide financial services to the public....
It may be claim number 49. It’s their worst day. – Moonstone Information Refinery
3+ week, 2+ hour ago (1399+ words) By the time a claim reaches a claims professional, it may be the 49th case they have dealt with that day. To the person making the claim, it may be one of the worst days of their life. The process may…...
Responsible investment: South Africa has the policies, but can it prove they work?
3+ week, 3+ hour ago (837+ words) Forty-three percent of South African asset owners surveyed have no independent mechanism for checking whether their investment managers are delivering on their ESG mandates. That is despite 91% of respondents describing their organisations as responsible investors. Most also have formal responsible…...