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Registrar-of-Pension-Funds-Annual-Report

Registrar of Pension Funds Annual Report

What can we learn from the past? The Registrar of Pension Funds 59th Annual Report for the 2017 calendar year was published on 18 December 2018. Besides the industry statistical overview, performance of funds and financial statements, the report covers proposed regulatory changes, litigation matters, unclaimed benefits and the outcomes of on-site visits Amendments to […]

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Softbyte

Softfin Financial Planning Software

Experience taught us that a low-cost offer should be treated with suspicion and a no-cost one with even greater circumspection. There are exceptions, though. Softbyte Computers announced last week that Moonstone subscribers can now access SoftFin financial planning software at no cost for a whole year. “With no ties to any financial institution or organisation, […]

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FSCA

FSCA Directive 8 – Prohibition on the acceptance of gr …

The recently published FSCA Second Quarter Bulletin 2018/2019 provides feedback on the FSCA’s regulatory update session at the recent Institute of Retirement Fund Association Conference. The directive is based on the general principle that a board member, principal officer, employee of a retirement fund, auditor, valuator, administrator, employee of an administrator, or service provider to […]

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Fintech

Fintech policies and regulatory frameworks – National Trea …

“Financial Technology (FinTech) has become an increasingly popular phenomenon, with people familiarising themselves with crypto-currencies such as Bitcoin, SAFcoin and many others. The main issue with all these currencies is that they operate in a relatively unregulated environment; thus government is unable to either track or protect consumers from potential fraud that may be associated […]

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Court-Judgement

Did Reserve Bank cause Sharemax implosion?

– Interesting high court judgment This rather sensational headline greeted readers of the Star newspaper on December 14, 2018. But does this reflect the real findings of the KZN High Court? A careful reading of this very important judgement is highly recommended to anyone who is still involved with Sharemax disputes as it does not provide any […]

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POPI

POPI – More regulations published

The Information Regulator in SA published the final Protection of Personal Information (POPI) regulations on 14 December 2018. The purpose of the POPI Act is to ensure all South African institutions conduct themselves in a responsible manner when collecting, processing, storing and sharing another entity’s personal information by holding them accountable should they abuse or compromise personal […]

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analysis

Needs analysis not a tick box exercise

The importance of an in-depth client financial needs analysis is once more highlighted in a FAIS Ombud investigation, ruling and settlement. A financial needs analysis should not just be a tick box exercise; financial advisors should always do an in-depth analysis of the client’s circumstances and financial position before making any recommendation, even when clients […]

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