Secondary

demarcation regulations

Yay or Nay to Demarcation Regulations?

The demarcation between health insurance and medical schemes has a long history, going back as far as 2000 after the enactment of the Medical Schemes Act no. 131 of 1998. The basis of the demarcation debate was the fact that certain health insurance products were deemed to infringe on and compete unfairly with medical schemes, without […]

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misery-index

Miserable Countries

No, this has nothing to places to avoid when travelling around the globe. In fact, it may well be places you wish to go to, given the poor exchange rate because of the state they’re in. Bloomberg’s Misery Index combines countries’ 2017 inflation and unemployment outlooks to calculate the state of misery, and provides comparisons […]

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Qualifications-Deadline

Regulatory Exam Seats Filling up Fast

As the end of June draws near, availability for seats to write the exams before the DOFA deadline are becoming increasingly scarce. It is not only those who have to write before 30 June. A number of candidates who failed to pass at the first attempt are registering to write again before the deadline. As usual, […]

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liability-insurance

Shifts in the Liability Insurance Landscape

Political challenges in our country and its consequences for our economy has taken over most of the headlines in the first quarter of 2017 but recent news events like the Ford Kuga recall and different forms of cybercrime has turned the spotlight on the proliferating types of liabilities businesses can face. Liability insurance is said […]

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Debarment Overturned

Latest news from FIC

The Financial Intelligence Centre (FIC) has issued a Revised Public Compliance Communication 05B (PCC) which provides clarity to accountable and reporting institutions on their obligations of registration with the FIC. This revised PCC clarifies the requirements for the setting up of delegation structure for those entities that have a centralised reporting structure amongst their branch […]

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FSB-Building

Net 1 allegedly flaunted FAIS Rules

An amaBhungane report states that the Financial Services Board (FSB) is probing Net 1 over allegations that it abuses social grant beneficiaries and breaks financial laws. Legalbrief Today reports that Net 1, the US-listed parent company of CPS which pays social grants for Sassa, has controversially used this access to sell loans, insurance, airtime and electricity to […]

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technology

Technology and the 50+ Brigade

How often do we look for solutions far and wide, when the answers are right under our noses. This occurred to me again when I read an article in a blog on the Finovate website on the challenges facing Americans who are over 50. You would hardly think that their future prospects may be more […]

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Ombud

Misrepresentation of Regular Driver Details

The Ombudsman for Short-Term Insurance published an information document for the public on the importance of providing accurate “regular driver” details. The regular driver is the person who drives the vehicle most often in any monthly period. This person’s details, including his or her specific risk profile, are used to determine the acceptability of cover […]

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robot

Robo Advice in a nutshell

In South Africa, automation of financial advice is still relatively scarce, but very likely to surge in the next few years. In the USA, it already plays an important role in the investment space, which led to the authorities spreading its regulatory net to include such advice. The information below is extracted from an update […]

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Pravin_G

Too Few Good Men?

The fate that befell former Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, last Friday confounded most rational thinkers. The terse manner in which Gordhan was first recalled from the investor summit abroad, and then the sacking of both officials, left everyone in the dark as to why it was thought necessary. At the […]

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