The FCC recently released a Notice of Apparent Liability (“NAL”) for a forfeiture of $ 8,000 that should be a cautionary tale for other broadcast licensees that conduct contests for listeners or viewers. This fine arose out of the station’s failure to conduct a contest in accordance with its announced terms, and specifically to make payment of a prize by the deadline which the station had established for itself. The FCC found that this failure was a violation of its … Read the rest
Since 2020, most retirement funds have been faced with a situation where participating employers have failed to comply with section 13A of the Pension Funds Act, 1956 (PFA), by either underpaying employer or member contributions or not paying at all. The non-payment of contributions attracts late payment interest in terms of section 13(7) of the PFA.
It is against this background that the Financial Sector Conduct Authority (FSCA) repealed Regulation 33, which governed payment of pension fund contributions and … Read the rest