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In response to an article: “Disclosure of Material Terms” we published last week, a reader responded as follows: Dear Paul, No broker can possibly explain every single clause in a multi-page legal contract to the client, and even if they did (over the course of a month or two), the client would simply deny it. The likes of Moonstone and FIA should…
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The dreaded DOFA (Date of First Appointment) deadline is looming for all those people appointed between 30 June and 31 December 2012, and who have not yet successfully completed their Level 1 Regulatory examinations. You have until 30 June 2015 by which to do so. While it sounds light years away, please bear the following in mind: Not…
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The leaders of the two sides in South Sudan’s civil war signed a potentially important deal on Wednesday, January 21. The agreement was signed in Arusha, Tanzania (so it is being called the Arusha Accord) and was overseen by Tanzania’s President Jakaya Kikwete. It formalises the reuniting of the Sudan People’s Liberation Movement (SPLM).…
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The Draft Market Conduct Framework, published in December last year, identified the diversity of legislation regulating different sectors of the industry as one cause for the Regulator’s inability to supervise effectively across the financial services industry. The same applies to practitioners in the industry as far as complying with…
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The “Draft Market Conduct Framework”, published in December, is certainly a goldmine in terms of trying to gauge what the future holds for the industry. The information published below is extracted from it. It contains guidelines on how FSPs will need to amend their Complaints Management Systems to be proactive and integrate TCF principles…
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Bobby Londt With any project or task, success depends heavily on preparation. The Proteas have done all they could to be as best prepared for the World Cup coming up in Australia come February and the results thus far reflect this. One could argue that the recent games against the West Indies weren’t a real test, but our boys kept to the extremely high…
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Daily RE Questions

  1 What exam must I write? Both the RE5 and RE1 are Level One exams. RE5 is for Representatives and RE1 for Key Individuals. The RE3 exam is for licence category II candidates. 2 How much does it cost? The FSB determines the fee. Currently it costs R1050 per exam, also in the case of a re-write. 3 What preparation material is available? Fully updated…
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Update from Cambist

Hanna Barry reports in Moneyweb Today that Cambist published a newsletter to investors in which they refer to an upcoming court case which may prove to be good news for investors who made use of the Cambist platform: “…Cambist suggests that the backlog in EAO processing by magistrates’ courts is the cause of current difficulties on the platform.…
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TCF & Retail Distribution Review Update

A Draft “Market Conduct Framework” was published in December for comment. It contains the latest thinking by the Regulator on a number of key issues. The following is a synopsis of the rationale behind proposed changes to product distribution and intermediary remuneration. Significant progress has been achieved since the FAIS Act was introduced…
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