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Last week we commented on a request for public response to a “Technical Report on the Consumer Credit Insurance Market in South Africa”. One of the proposals concerns regulating the pricing of CCI. The thinking is to allow credit providers to “…continue to require CCI cover as a condition of granting credit, but within a framework where…
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This line from “The sound of music” applies equally well to those who have written the level 1 REs on several occasions and failed. It may be wise to stand back, review what you have done, and then find a different approach. The very first step is to read the Preparation Guide compiled by the FSB to establish what you are required to do, what you can…
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Negotiations between Mali’s government and northern separatists kicked off on in Algiers on Wednesday, July 16. There has been no sign that a rapid resolution of the Malian issue can be expected. The talks bring together representatives of the government in Bamako and leaders of the main autonomy movements: the National Movement for the Liberation…
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What happens to the commission of intermediaries who resign, or whose contracts with product providers are cancelled? The latest FAIS Ombud newsletter contains an example which throws some light on the subject. Ombud Case study: Are You Getting What You Paid For? This Office has, in the past few years, experienced an increase in the number of complaints…
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This Elton John song came to mind when I read two publications on retirement planning last week: “Who’ll walk me down to church when I’m 60 years of age/When the ragged dog they gave has been ten years in the grave…” The results of Sanlam’s authoritative Retirement Benchmark Survey showed a lot of similarities to opinions expressed by…
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I want to take you back to 17 May this year. The Sharks recorded one of their finest victories ever on this day when they broke the SA drought against the Crusaders in Christchurch. What made it even more remarkable was the fact that they played with 14 men from the 17th minute on, and had another player yellow carded later on. Gavin Rich reported as follows…
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PFA: New prescibed financial statements

Pension Funds Act “Funds are hereby informed that annual financial statements in respect of financial years that ended on or before 31 May 2014 may be submitted in either the currently prescribed format or the revised prescribed [format]. Funds whose financial years end on or after 30 June 2014 are required to submit annual financial statements…
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FAIS Notices (49-52)

Please find attached the latest FAIS Notices:   FAIS Notice 49 – Exemption of Shell International LTD and Shell Treasury Centre Ltd FAIS Notice 50 – Exemption of AMD Brokers CC FAIS Notice 51 – Exemption of Isambulela Group Administrator FAIS Notice 52 – Exemption of Capital International Ltd…
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