industry news
Latest RDR update on two-tier adviser model – What’s …
The FSCA recently published various RDR (Retail Distribution Review) discussion documents for comment. One of the documents provides specific updates and requests input on several aspects of the adviser categorisation model. Purpose of categorisation and proposed model In the initial RDR paper the FSCA explained the purpose as: The financial services customer should be in […]
best practice
Fundamentals of Estate Planning – Learn the basics and ear …
Estate planning is a very important aspect of holistic financial planning. It gives clients comfort knowing that they have properly planned and made provision to protect their loved ones in the event of death and protects families with young children, minimising the eventual tax burden on heirs as well as helping to avoid other potentially […]
technologically speaking
Cyber-attacks – Main culprits identified
Various annual reports and research have recently highlighted cyber-attacks as the number one global risk for companies. A media release by Mimecast towards the end of 2019 indicated that four major cyber-attack campaigns were detected in South Africa between July and September. The systems of several financial services companies suffered the brunt of the impact […]
compliance and legislation
PIC Public Compliance Communications – Deadline for commen …
1. Draft Public Compliance Communication 102 on Supervisory Body Access to STR and STR information The draft PCC 102 sets out the provisions of the FIC Act that allows for certain supervisory bodies, which includes the FSCA and the SARB, to have access to suspicious and unusual transaction reports (STR) as submitted by reporting entities […]
Allianz Risk Barometer 2020 – Is cyber risk really South A …
The Risk Barometer is an annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS). The 2020 edition incorporates the views of a record 2,718 respondents in over 100 countries. For the first time ever, cyber incidents (39% of responses) ranks as the most important business risk globally in the ninth Allianz […]
Social media and insurance – Another claim dispute resolve …
The power of social media once again came into play when a claim dispute was resolved after the insurer initially turned down a claim. According to media reports, DA MP Cameron Mackenzie was shot and wounded during an attempted robbery in Midrand last week Wednesday. News24 reported that the injuries left his car covered in […]
Reporting a vehicle accident – Limited online option now a …
For minor damages, motorists can now report a crash online via the National Traffic Information System (NATIS) website in order to obtain a case number. However, there are a few stipulations, with only minor crashes that can be reported and it must be done within 24 hours or on the first working day. Uploading a […]
Save the date – 2020 Annual Compliance Webinar
The annual webinar, aimed specifically at Financial Services Providers NOT required to appoint a compliance officer, will be hosted on Thursday, 13 February 2020. The session will once again provide insight into frequently asked questions and the practicalities surrounding FAIS and FICA obligations. The registration for the webinar will open next week. Cost to attend […]