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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 ...
industry news
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 […]
best practice
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, […]
technologically speaking
Integrate Twitter into your marketing plan – 5 tips to ach …
Despite what people think, Twitter continues to maintain its status as a popular social media platform. The latest statistics show that there are 500 million Tweets sent each day, that’s 6 000 Tweets every second. Financial advisers tend to spend the bulk of their focus either on Facebook or LinkedIn. Even though these are incredibly important […]
compliance and legislation
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 […]
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 […]
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 […]
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 […]
REMINDER – The impact of FAIS Notice on regulatory exa …
Regulatory changes have a huge impact on the content of the Regulatory Exams. The latest FSCA FAIS Notice that comes into effect on 1 February 2019 is no exception. Candidates need to take careful note of the following: Candidate 1: “I am writing my RE1 or RE5 exam on or before 31 January 2019”. The Preparation Guide, Version 14 […]