More debarment guidance from the Tribunal
A representative’s dishonesty, negligence or incompetence must be sufficiently serious to impugn the honesty and integrity of the representative as a person before debarment is justified.
The ambit of the enquiry determining fit and proper characteristics is that a representative must conduct themselves with honesty and integrity and be
The United Kingdom Supreme Court, in the FCA Test case appeal, dealt with the meaning of “interruption” in a Business Interruption policy.
The policy wording required there to be losses resulting from “an interruption to your activities…”
The court held that the ordinary meaning of “interruption” is quite capable of encompassing interference or disruption which
On 17 March 2021, the Financial Services Tribunal confirmed that failure to timeously submit an actuarial valuation can result in the imposition of administrative penalties on a pension fund. The Financial Sector Conduct Authority (“FSCA”) may take into consideration the number of days that the pension fund was late in submitting the actuarial valuation when
The insurer was denied the right to sue two former college students for $4.5 million the insurer had paid to the school after the students accidentally set fire to the dormitory. It was held that the students accommodated in dormitories were equivalent to tenants and insured under the school’s fire policy.
The two students used
The United Kingdom Supreme Court in the FCA Test Case appeal dealt with the meaning of “prevention of access” in respect of the prevention of access due to the actions or advice of the local authority because of an emergency which is likely to endanger life or property in a Business Interruption policy.
The relevant
The FCA Test Case appeal in the UK Supreme Court dealt with the meaning of “inability to use” business premises in the relevant non-damage extensions to the business interruption section of the policy considered by the court.
The relevant non- damage Public Authority clauses did not cover all business interruption due to “restrictions imposed” by
24 March 2020 marked 100 days to the deadline to ensure compliance with the Protection of Personal Information Act, 2013 (POPIA).
The Information Regulator (IR) has prioritised certain processes that may be applicable to your organisation (which can be completed before 1 July 2021):
On 18 March 2021, the Information Regulator announced on Twitter that:
What are Green bonds?
Green bonds (also referred to as Climate Bonds) are like typical bonds but their distinguishing feature is that the proceeds of the bond are ring-fenced and exclusively allocated to support “green projects” aimed at mitigating climate change and promoting energy efficiency, pollution prevention, sustainable agriculture, clean transport, and the cultivation of
In February 2021, the Financial Services Tribunal (“FST”) in L.S Ngqengelele v Afrisam South Africa (Pty) Ltd considered the question of when a fund may withhold and deduct money from a member’s benefit in accordance with section 37D(1)(b)(ii) of the Pension Funds Act (“PFA”).
Section 37D(1)(b)(ii) of the PFA, allows a fund to deduct from