FSCA keeps up the pressure for FICA compliance
FSCA keeps up the pressure for FICA compliance

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Investment Indicators | 17 December 2024
IN THIS WEEK's ISSUE
Rates Review
Investment Rates
Money Market Funds
Top 3 Rates
Top stories
Investigation: United African Stokvel’s promises were worthless
FSCA fines two financial firms R1.2 million for FICA compliance failures
Banking sector providing the Hawks with tools to combat financial crime
In the news
Ramaphosa calls on private sector to end appointments of Bain and McKinsey
Allan Gray lodges complaint over ‘imitation’ Nedbank advert
Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
Black Friday 2024: South African shoppers go digital amid record spending
‘Investment’ scammers impersonate companies on Telegram
Perspective
Municipal infrastructure: a complex landscape with emerging opportunities
Moonstone Update
Regulatory Examinations
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ADVERTORIAL
GTC banner 2023-10-02

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RATES REVIEW
Secured Investment Rate
Please note that (G) indicates a Guaranteed and (L) a Linked product. In order to understand the difference between guaranteed and linked rates, kindly click here for an explanation.
R1 000 000 (3% commission)
Company This week Last week
Clientele Life (G) 5.886% 5.945%
Nedgroup Life (L) 5.040% 5.120%
R1 000 000 (1.5% commission)
Company This week Last week
Clientele Life (G) 6.206% 6.265%
Money Market Funds
R100 000
Company This week Last week
Symmetry 8.42% 8.23%
Allan Gray 8.40 8.43%
Nedbank 8.25% 8.32%
Please bear in mind that our figures, though based on the actual quotations that you also use, are for information purposes only, and can never replace the official quotation from the product house. In terms of the guarantees, you are requested to clarify the exact extent of such guarantees with the product house prior to advising clients.
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Fedgroup large banner 2024-03-21
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TOP STORIES
Investigation: United African Stokvel’s promises were worthless
The stokvel misused a significant portion of the money it collected, while the remaining amounts were used to pay purported returns to some investors, says the Authority.
Top story read button
FSCA fines two financial firms R1.2 million for FICA compliance failures
Risk management failings, inadequate customer due diligence, and lack of senior management oversight are key lessons for the industry.
Top story read button
Banking sector providing the Hawks with tools to combat financial crime
The Digital and Financial Forensic Analysis Centre’s latest project is serving subpoenas electronically to obtain bank records.
Top story read button
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FICA banner
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IN THE NEWS
Ramaphosa calls on private sector to end appointments of Bain and McKinsey
The Presidency is not happy with McKinsey’s appointment as a supporting partner to the B20 or Bain’s running the Energy Council’s project management office.
Itn read button
Allan Gray lodges complaint over ‘imitation’ Nedbank advert
Allan Gray argued that Nedbank’s ‘Time is more valuable than money’ campaign infringed upon its intellectual property.
Top story read button
Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
The surge in fraud underscores the urgent need for stringent compliance measures to protect clients and maintain trust amid rising threats.
In the news 3 read button
Black Friday 2024: South African shoppers go digital amid record spending
Consumers defied economic pressures this Black Friday, with banks processing billions in transactions and setting new records. Digital payments took centre stage, highlighting a significant shift in consumer behaviour.
In the news 4 read button
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
In the news 5 read button
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F & P - Gold - 4 Export-live-chat
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PERSPECTIVE
Municipal infrastructure: a complex landscape with emerging opportunities
Public-private partnerships and sustainable projects are opportunities for impactful, long-term investment in essential services and economic growth.
Read full article
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MOONSTONE UPDATE 9 TO 12 DECEMBER 2024
Constitutional Court decision on Living Hands vs Old Mutual
Watch Moonstone Update for an overview of some of the stories covered in the past week's Moonstone newsletters.


Moonstone Update 2023-12-01

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Career opportunities
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CAREERS PLATFORM - MOONSTONE POSITIONS
 
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