industry news
Five ways to get new habits to stick
COVID-19 has changed our experience of being a customer, an employee, a citizen and a human. These behaviour shifts will not change overnight and some have now become the norm. “Well, COVID-19 has turned our routines on their heads. With regular routines thrown out the window, how likely is it that our lives have permanently […]
best practice
The importance of a robust retirement plan
Now is a good time for retirees to secure a guaranteed income for life. According to retirement income specialist Just, if your retirement savings were invested in balanced funds through the market turmoil of 2020, it is currently possible to secure a guaranteed income for life that is more than 15% higher than it would […]
technologically speaking
Are you potentially exposed to the risk of screen scraping?
In 2020, the South African Reserve Bank (SARB), the Payment Association of South Africa (PASA) and the Financial Sector Conduct Authority (FSCA) issued a joint statement warning consumers about the risks associated with instant online EFT (electronic fund transaction) payments, particularly in relation to screen-scraping. (Read: Instant EFT – Payment option can lead to online […]
compliance and legislation
Public comment sought on draft administrative action procedu …
Background The FSCA website, on its Enforcement Actions page, shows a huge array of fines, ranging from R161 million to as little as R18 000. In 2013, we took up the issue of how such penalties are determined with the (then) FSB, quoting three examples where virtually the same offences were committed, but with huge variation […]
Recovery of local value funds – No similarities between th …
In a recent Citywire article, Patrick Cairns takes a look at six equity funds riding the value wave. Cairns highlights that to be a successful value manager, you need patience. “You can find yourself on the wrong side of the market for some very long periods. But, if you can hold onto your convictions, and […]
Elon Musk sets fire to the bitcoin and cryptocurrency debate
Tesla CEO Elon Musk, who has been a big supporter of cryptocurrencies, implied in a Twitter exchange on Sunday afternoon that the electric vehicle maker sold or may sell the rest of its bitcoin holdings, sending the price of the cryptocurrency down. A potential sale comes just days after Musk said the company planned to […]
CPD deadline less than three weeks away
You have only 18 days left as we approach the end of the Continuous Professional Development (CPD) cycle and the deadline for the Financial Advisory and Intermediary Services (FAIS) CPD, which is 31 May 2021. Although the current cycle commenced on 1 June 2020, Section 2(1) and 2(2) of FSCA FAIS Notice 22 of 2020 […]
CMS clarifies selection of Designated Service Providers and …
As a result of a high volume of queries following the recent publication of the Government Gazette Notice on the future of Designated Service Providers (DSPs) and co-payments, the Council for Medical Schemes (CMS) released a communication to provide clarity. In the media release, the CMS clarifies that DSPs and co-payments are legislative measures aimed […]