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Author Archive | Janine Geldenhuys

broker-fees

Medical Schemes – Broker fees increased

The Council for Medical Schemes (CMS) recently announced the approval of an increase in the maximum amount payable to brokers in terms of Section 65 of the Medical Schemes Act (131 of 1998). The revised amount is now R101.91 plus value added tax (VAT) – the 2020 fee was R98.85 plus value added tax (VAT). […]

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online-shopping

IRMSA ranks top risks and notes shift in consumer behaviour

A scarcity of unified, ethical, and visionary leadership is now the single biggest risk facing the country according to the newly released Institute of Risk Management South Africa (IRMSA) Risk Report 2021. The annual ranking is compiled by IRMSA after extensive interviews with risk managers and business leaders. The continuing private and public sector governance […]

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social-media

Five mistakes financial advisors make on social media and ways to avoid them

As a financial advisor, it is key that you utilise social media as a part of your overall marketing strategy. It not only boosts your engagement with clients, but gives people access to your content and increases your leads. However, success in the social media space does not happen overnight. While it’s great to increase […]

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FIC-risks-geographical-areas-money-laundering

FIC guidance on risks related to geographical areas

The Financial Intelligence Centre (FIC) has issued Public Compliance Communication 49 (PCC 49) that provides guidance on certain money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risk considerations and provides suggested resources that may be consulted in determining the ML/TF/PF risk related to geographic areas. Last year, Draft PCC 110 was made available […]

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credit-covid

TransUnion’s Industry Insights Report – Impact of pandemic still very real on consumer credit market

“South Africa’s consumer credit market remains subdued as the pandemic continues to impact household finances,” according to the TransUnion’s Q4 2020 South Africa Industry Insights Report. This in the midst of the just-released StatsSA data that indicates that more than 500,000 people lost their jobs between December 2019 and December 2020 when the country underwent […]

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cpd-deadline

CPD requirements – Deadline approaching

Last year the The Financial Sector Conduct Authority (FSCA) recognised the challenges presented by the Covid-19 pandemic and the impact on the completion of any planned CPD offerings. To assist financial advisers in 2020, an extension of deadlines were granted to enable those who had not obtained the requirement by 31 May 2020, to meet […]

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popia

Countdown to POPIA compliance

With less than 100 days to the deadline for public and private bodies to ensure that the processing of personal information conforms to the Protection of Personal Information Act (POPIA), the Information Regulator (IR) announced the prioritisation of certain processes in preparation for the full implementation and enforcement of POPIA on 1 July 2021. 1. […]

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complaints

Long-term insurance complaints – What does the Ombud require from insurers?

The Ombudsman for Long-term insurance mediates in disputes between members of the long-term insurance industry and policyholders. As we await the release of the Ombud’s 2020 Annual Report to see the impact of the current “new normal” in the financial services industry, the Ombud has released guidelines for insurers with regards to their responses to […]

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