An insurer’s obligations concerning the lapsing of a policy was recently the subject of an investigation by the Long-term Ombud, following the repudiation of a claim. “Repudiation involves disputing the validity of a contract and refusing to honour its terms. Repudiation is therefore conduct which shows the clear and explicit intention of the party concerned […]
The ultimate objective of the financial advisor is to help clients prepare for the future using the various financial products available. If the financial advisor can minimise the number of traumatic experiences that inevitably occur in the course of the client’s investment journey, it can lead to a stronger client relationship. This task may sometimes […]
The 2019 Sanlam Benchmark Survey found that one-third of employers using umbrella funds have never reviewed their provider, while less than half of respondents conducted a review of their provider every one to three years. In a recent media release, Nazia Kahlon, Group Savings specialist at Allan Gray, discusses the importance of reviewing an umbrella […]
The Council for Medical Schemes (CMS), in partnership with the Gordon Institute of Business Science (GIBS), has introduced Advanced Trustee training. The training is aimed at medical schemes’ Board of Trustees, principal officers, fund managers and any other scheme personnel who would like to increase their knowledge on the business of medical schemes. According to […]
There will be planned maintenance of ICT systems, starting on Friday 13 September 2019 at 17:00, until Sunday 15 September 2019 at 20:00. This means that all ICT services, including the FSCA website, will not be accessible during this time.
Section 14(1) of the FAIS Act makes it compulsory to debar a person if he or she fails to comply with the requirements of Board Notice 194 of 2017 which became effective on 1 April 2018. In terms of these Fit & Proper requirements, Continuous Professional Development (CPD) for regulatory (FSCA) purposes was officially implemented as such a […]
One of the predictions of 2019 was that digital transformation will be one of the big influences that will be visible in the financial services industry. Forbes predicted that “we will see big changes this coming year, especially for the banking giants, many of which have operated with a legacy-era brick-and-mortar mind-set for hundreds of […]
LegalBrief reported yesterday that the Gauteng High Court (Johannesburg), in a judgment written by Judge Roland Sutherland, has confirmed similar rulings in the Western Cape, KZN and Limpopo divisions, that the High Court does not have jurisdiction to release consumers from debt review. According to a Business Day report the judgment stems from an application […]
Spring has finally arrived and with the turn of the season comes the opportunity to start afresh. While everyone may be spring cleaning their home, office or email inbox, one of the most important aspects of everyone’s life also needs a review – your finances. In a recent press release Lettie Mzwinila, business development manager […]
Claiming to hold a tertiary qualification that you do not have could come with a jail term of five years in South Africa. The new National Qualifications Framework Amendment Act came into effect recently and aims to prevent South African individuals from misrepresenting their qualifications. Even misrepresenting your qualifications on social media could get you […]
