FAIS Ombud

PFA sets record straight

A media release on 18 August by the office of the Pension Funds Adjudicator addresses an issue raised during the interviews for the Public Protector position. An allegation against Ms Lukhaimane was made in a letter submitted by the State Security Agency to the Committee. The letter alleged that Ms Lukhaimane had a criminal record, having […]

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Causal Event Charges Challenged – Part II

In Part I, we discussed the product provider’s response to a client’s questioning of how a causal event penalty of nearly R10 000 can accrue where there were no premium payments, commission, marketing or other costs as claimed by the provider. The original Discussion Document on Contractual Savings, published in 2006, envisaged the following: a sharing […]

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FPI Approved Qualification from MBSE

The Financial Planning Institute provides its members with a list of approved training providers. Moonstone Business School of Excellence (MBSE) is an FPI Approved Education provider who complies with the FPI’s requirements in terms of mapping more than 80% of its learning outcomes back to the Financial Planning Curriculum of the FPI. If you are […]

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Proceed with Caution

Indications are that we will, in the next week or two, see updates on a number of proposed legislative changes, including the Policyholder Protection Rules. In the publication of the Phase 1 proposals in December last year, it was envisaged that drafts of subordinate legislation to give effect to the majority of the RDR Phase 1 proposals […]

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Alles is nie verlore nie

Alister Coetzee se besluit om nie te torring aan sy span van verlede week nie, behalwe waar beserings dit noodsaak, sal waarskynlik kritiek uitlok. In die kort tydjie wat hy in die stoel is, moes hy seker al die waarheid besef het van die gesegde wat lui: Jy kan nie almal tevrede stel nie; jy […]

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Enquiries About Skills Credits

Q: I started working in the Insurance industry in 2008, completed 63 credits Personal and Commercial and passed my RE1 in 2013. After this, I left the insurance industry. I desperately want to return. What qualification do I need? Should I write another RE exam? A: There is good news, good news and more good […]

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Rugby Championship Statistics

It has been a while since I last had goose bumps at the start of a rugby series. While the Rugby Championship is far from ideal, it is a great deal more exciting than the poorly designed Super series we just suffered through. Although last year’s competition was very much an abbreviated one, the challenge […]

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Causal Event Charges Challenged – Part III

In search of the modern investments’ Holy Grail, better known as the calculation of causal event charges, we came across an interesting new perspective on the matter. A broker that I spoke to mentioned that he requested to speak to the actuary responsible for drawing up the guidelines, only to be told that the gentleman […]

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