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Gender equality status in the financial services industry

In spite of South Africa’s progressive Constitutional and legislative framework, gender equality in South Africa remains elusive. The most extreme manifestation of this inequality is evidenced in the high levels of gender-based violence within South Africa. In the financial services industry, there are two aspects to gender equality. The first aspect entails addressing representation within […]

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Microinsurers – Proposed exemption for Credit Life

The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a policy benefit payable as a sum of money is payable directly to a service provider.” FSCA Communication 6 of 2019 notes that […]

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Complaint insights – View it as feedback from your custome …

We are all aware that the FAIS Ombud is responsible for promoting consumer protection and fostering the integrity of the financial services industry by resolving complaints in a manner that is impartial, expeditious, economical, accessible and, at all times, equitable. Naresh Tulsie, FAIS Ombud, recently mentioned that the FAIS Ombud’s office has two goals. “The […]

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