• Ombud

    Due Diligence Revisited

    The Appeal Board recently ruled on a determination by the FAIS Ombud on a complaint regarding an investment ...


Update on Registration of Hedge Funds

In February 2015, the Minister of Finance declared hedge funds as collective investment schemes with effect from 1 April 2015. All South African hedge fund operators were required to apply for registration in accordance with the Collective Investment Schemes Control Act, No. 45 of 2002 (“CISCA”), in order to continue operating. To date, the Financial Services Board has considered […]

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Sole Proprietor Practicalities

In response to Alan Holton’s article on business continuity and succession planning, Tony Calitz, a sole proprietor in Durban, raised a number of very important considerations. Most clients will NOT simply grant permission for their adviser to pass on their personal and financial information to someone with whom they have not had any dealings. Personally, […]

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What to look for in structured products

In today’s uncertain climate, financial advisers have to consider risk very carefully. How much risk is appropriate for different clients, and how it is managed are critical questions when putting together investment plans. This is particularly important when looking offshore. With interest rates in developed markets being so low, any substantial losses will be hard […]

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FAIS Newsletter 21

Enquiries indicate that many FSPs do not share important information like this with all their staff. Below is a summary and a link to the full document. Electronic submission of Handover Compliance Reports Handover Reports can now be submitted electronically by way of the FAIS online reporting system. The newsletter provides details of the conditions […]

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Cheika se jakkalsdraaie

As jy nie sterk is nie, moet jy slim wees, sê ons in Afrikaans. In die Aussie weergawe hiervan moet jy “slim” met “slinks” vervang. Die Aussie breier se nuutjie, om sy plaasvervangerbank eers Vrydag aan te kondig, kan aan verskeie redes toegeskryf word. Hy wil waarskynlik eers sien hoe die Bokke se reserwes lyk, […]

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Due Diligence Revisited

The Appeal Board recently ruled on a determination by the FAIS Ombud on a complaint regarding an investment in the ill-fated Bluezone property syndication. Last week we commented on the observation by the Board concerning the possibility that the Ombud’s judgment could be affected by the convenience of hindsight, referring to the fact that, at […]

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FAIS Ombud

Second Appeal also unsuccessful

The Ombud made a determination on 30 March 2012, holding the appellants liable for the repayment of the amount invested. An appeal was upheld by the Appeal Board on 26 February 2014. In terms of the order, the matter was remitted to the Ombud for investigation of certain aspects which, according to the decision, had not been investigated properly […]

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Die vis vrot van sy kop af

Die spreekwoord sê dinge kan nie doller as kopaf raak nie, maar as ek so na SA politiek en sport kyk, smaak dit my ons gaan die idioom herskryf. Dit wat nou by die Cape Cobras aan die gang is, is absoluut tekenend van wat besig is om te gebeur in rugby en krieket. Die […]

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