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Author Archive | Janine Geldenhuys

finance

Financial Freedom – Financial services industry has a responsibility to educate clients

Financial freedom means different things to different people. Some commonly listed components of this coveted liberty include being debt-free, gaining financial independence and/or feeling a sense of financial stability. The reality, however, is that most South Africans will never experience any of these comforts. Research Unisa conducted in collaboration with Momentum shows that 60% of […]

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cancel

New guidelines on orphan funds – Cancellation and reinstatement requirements reviewed by Authority

The FSCA recently published PFA Information Circular No. 1 of 2019 which replaces Information Circular PF No. 2 of 2017. The latter provided guidance on the information required for an application for the cancellation of a fund. “The pre-requisites for a fund to have ceased to exist are that it no longer has any assets, liabilities or […]

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fake-new

Fake news – Beware of scam links being shared on social media

Although fake news may seem new, it’s just the platform that has changed. Propaganda has been around for years, and the online platforms are now the latest method of communication that is abused to spread lies and misinformation. Wikipedia describes fake news (or junk news or pseudo-news) as “a type of yellow journalism or propaganda […]

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POPIA

New POPIA regulations – Law firm sheds some light

The new regulations to the Protection of Personal Information Act have been published in December 2018. However, these Regulations will only come into effect on a date to be determined by the Information Regulator. The aim of the POPI Act is to protect consumers from harm by protecting their personal information. In terms of the POPI […]

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deadline

FAIS Fit and Proper requirements – A deadline is looming

The Fit and Proper requirements of Board Notice 194 of 2017 need to be implemented and complied with before specific deadline dates. Wednesday, 31 July 2019 is such a deadline. A Representative working under supervision as at 1 April 2018 or appointed in the period 1 April to 31 July 2018, must comply with Class of Business Training requirements by 31 July 2019. Class of […]

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Discovery

Fraud, waste and abuse in the healthcare system

– Discovery making great strides to curb the problem Discovery Health recently reported that they have invested substantially in fighting the scourge of healthcare fraud, waste and abuse. In 2018, Discovery Health’s efforts to curb fraud, waste and abuse in the healthcare system resulted in a substantial R555m recovered on behalf of client schemes. Efforts […]

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Digital

Digital transformation shifts from threat to opportunity

“This is a unique and exciting environment for the insurance industry, as consumers are open to a more interactive relationship with their carriers.” These are the words of Stephen O’Hearn, Global Insurance Leader, Partner, PwC Germany. PwC recently produced its 22nd Annual Global CEO Trends series that specifically focussed on Insurance trends. According to the […]

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