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Author Archive | Paul Kruger

FIAS

Tribunal again rules against FAIS Ombud

Last Monday we published an article on the outcome of a FSCA Tribunal hearing with the following introduction: “The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard on 25 June 2019 should result in serious introspection by the office of the FAIS Ombud.” “Whilst not directly addressing some of the grounds […]

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Softbyte

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, […]

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Fintech

Fintech policies and regulatory frameworks – National Treasury programme update

“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 […]

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FSCA

FSCA Directive 8 – Prohibition on the acceptance of gratification

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 […]

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Big-data

Protection of data

Protection of data – become familiar with the requirements On May 25, 2018, the European Union’s General Data Protection Regulation (GDPR) came into force. The GDPR standardises data protection law across all 28 EU countries and imposes strict rules on controlling and processing personally identifiable information. Closer to home we have POPI, the Protection of […]

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annual-report

South African Healthcare criticism

South African Healthcare criticism – further delay in Health Inquiry and release of IRR report There are currently three important considerations affecting the healthcare sector in South Africa: the National Health Insurance (NHI) Bill, the Medical Schemes Amendment Bill and the Health Market Inquiry. The timing and sequence of the release of the legislation and […]

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training-concept

Class of Business – make it part of your training schedule

With the Class of Business requirements that commenced on 1 August 2018 it is important to note that CoB can also be added to your training schedule if you: Wish to remain up to date with class of business product information, in order to maintain your on-going competence in terms of the fit-and-proper requirements. Wish to obtain […]

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