Treasury responds to industry’s two-pot proposals
Treasury responds to industry’s two-pot proposals

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Moonstone Monitor | 24 October 2024
IN THIS WEEK'S ISSUE
Top stories
SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
Treasury accepts most of the industry’s two-pot proposed amendments
Consumer settlements rise as FAIS Ombud sharpens complaint handling
In the news
Class action litigation in SA could spike with ‘non-attack’ data breach claims
Former Joburg mayor arrested for alleged funeral insurance scam
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Building South Africa’s future: can infrastructure investment overcome regulatory hurdles?
South Africa’s workforce forecast to see average 6% pay rise
Does ‘sitting on the mattress’ matter? Ombud rules on insurance policy dispute
Fraudsters impersonate FSCA commissioner in latest scam
Perspective
Strategies for brokers to address common misconceptions around gap cover
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TOP STORIES
SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
Top story read button
Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Top story read button
Consumer settlements rise as FAIS Ombud sharpens complaint handling
More than R39m awarded to consumers as complaints settled in their favour increased from 29% to 35% in 2023/24.
Top story read button
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IN THE NEWS
Class action litigation in SA could spike with ‘non-attack’ data breach claims
Improper data handling could lead to expensive claims, and stronger enforcement of POPIA is critical to preventing future litigation, say legal experts.
Itn read button
Former Joburg mayor arrested for alleged funeral insurance scam
Kabelo Gwamanda is accused of conning Soweto residents through his company, Ithemba Lama Afrika, leaving policyholders stranded when the business vanished in 2012.
Top story read button
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
In the news 3 read button
Building South Africa’s future: can infrastructure investment overcome regulatory hurdles?
Mika Adsetts, global chief investment officer of Momentum Multi-management, says that while PPPs are crucial for advancing infrastructure goals, an array of investments is key to scaling these projects.
In the news 4 read button
South Africa’s workforce forecast to see average 6% pay rise
Average inflation is expected to be 5.1% in 2024 and 4.8% in 2025 and 2026, according to the Bureau for Economic Research’s latest inflation expectation survey.
In the news 5 read button
Does ‘sitting on the mattress’ matter? Ombud rules on insurance policy dispute
The NFO decided that failing to follow customary mourning rituals did not prevent the recognition of a customary marriage, awarding the claim based on fairness.
In the news 6 story read button
Fraudsters impersonate FSCA commissioner in latest scam
The FSCA also reiterates its warning against Donafin, which continues to charge fees for unauthorised financial services.
In the news 7 read button
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Fit & P export FCA data
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PERSPECTIVE
Strategies for brokers to address common misconceptions around gap cover
How to show your clients that gap cover can be the missing piece in their overall healthcare and financial protection strategy.
Read full article
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Career opportunities
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CAREERS PLATFORM - INDUSTRY POSITIONS
 
Commercial Lines Admin Assistant (Underwriter): Porcupine Union, Centurion, Gauteng. Our client is looking for a Commercial Lines Admin Assistant (Underwriter) who will be responsible for generating commercial business quotations on new clients and existing clients, file preparation and activation with product provider on completion of the other marketer’s advice process..
Read https://careers.moonstone.co.za/job/porcupine-union-centurion-gauteng-commercial-lines-admin-assistant-underwriter/more
Treasury Trader: Remgro Management Services Ltd, Stellenbosch, WC. Remgro Management Services Ltd is a category 1 FSP, offering a position to a representative with experience in money market instruments, deposits and derivative instruments to facilitate various companies’ cash needs according to their individual mandates.
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Broker Support Administrator: Intellisure Insurance Brokers, Newlands, Cape Town. A bright, highly capable, organised, hardworking and adept full time Broker Support Administrator is required by a professional short term insurance brokerage based in Newlands, Cape Town.
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Commercial Insurance Sales Executive: Commrisk Insurance Brokers, George,WC. The CISE’s primary focus is on identifying potential clients, presenting them with suitable product proposals and confirming policy sales. They must build relationships with clients to ensure retention of business and facilitate new business.
Read more
Short-term Insurance Underwriter: Short-term Insurance Underwriter, George,WC. The underwriter is responsible for short-term insurance policy administration (renewals, endorsements and new business) providing excellent service and solutions to account executives, brokers and clients.
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Commercial Insurance Sales Executive: Commrisk Insurance Brokers, Western Cape. The successful candidate will be responsible for identifying potential clients, presenting them with suitable product proposals and confirming policy sales.
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For career opportunities currently available at Moonstone please click the button below.
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IN LIGHTER WYN
In plane sight

Irish words of wisdom 3

Child holding an acorn: “Dad, what’s this?”
Dad: “A tree.”
Child: “Really?”
Dad: “In a nutshell, yes.”

If a bear wears socks and shoes, he still has bear feet.

Person A: “How much does it cost to buy a large singing group?”
Person B: “A choir?”
Person A: “Okay, how much does it cost to acquire a large singing group?”

Most bald people still own a comb. They just can’t part with it.

I hate spelling errors. You mix up two letters and your whole post is urined.

I’ve often heard that “icy” is the easiest word to spell. Looking at it now, I see why.

A man loses three fingers in an accident. At the hospital, he asks the doctor: “Will I be able to drive with this hand?”
The doctor replies: “Maybe, but I wouldn’t count on it.”

Five ants rented an apartment with another five ants. Now they are tenants.

I quit my job as a scuba-diving instructor. Deep down, I knew it wasn’t for me.

Many people are too judgemental. I can tell just by looking at them.

Irish words of wisdom 3

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