Three companies have been hit with fines equivalent to 10% of turnover for failing to file annual financial statements within six months of the yearend.

The Financial Advisory and Intermediary Services Act (“Fais”) is unclear about which intermediary services require licensing. It violates the Rule of Law principle that laws must indicate with reasonable clarity what is. 

The government is intent on micro-managing the financial serices sector with layer upon layer of regulation. Now it is the turn of insurers. New regulation will be dumped on the sector despite evidence that customers are on the whole rather satisfied, writes independent consultant Gerrit Sandrock.

The Financial Advisory and Intermediary Services (FAIS) Act turned a decade old this week. By all accounts, it has fulfilled its promise of greater transparency and fairness in the marketing and sale of financial products.

Few of the benefits promised when the Financial Advisory and Intermediary Services (Fais) Act was introduced more than a decade ago have come to pass. It should be scrapped, writes Leon Louw of the Free Market Foundation. 

South African Revenue Services (SARS) has the power to appoint anyone as its collection agent. It has done it to employers, banks and now retirement funds, writes Ciaran Ryan.

The 2013 budget is about delivering "value for money" said finance minister Pravin Gordhan. That means getting serious about stamping out corruption.

Economists and tax specialists were generous in their praise of finance minister Pravin Gordhan’s 2013 budget delivered yesterday, but the big question remains: where is the growth?

Finance minister Pravin Gordhan has announce personal tax relief of R7 billion over the 2013 tax year. Adjustments to the medical tax credit and other relief will add R350 million in relief to South African tax-payers.