Due Diligence Revisited
The Appeal Board recently ruled on a determination by the FAIS Ombud on a complaint regarding an investment in the ill-fated Bluezone property syndication. Last week we commented on the observation by the […]
Author: Paul Kruger
FAIS Newsletter 21
Enquiries indicate that many FSPs do not share important information like this with all their staff. Below is a summary and a link to the full document. Electronic submission of Handover Compliance Reports […]
Die vis vrot van sy kop af
Die spreekwoord sê dinge kan nie doller as kopaf raak nie, maar as ek so na SA politiek en sport kyk, smaak dit my ons gaan die idioom herskryf. Dit wat nou by […]
Deadlines Revisited
A reader recently wrote: My query relates to the article headed “Qualification deadline at hand – 30 June 2016 is a very important date”. I understand that representatives appointed after 2010 has 6 years in […]
Sole Proprietor Practicalities
In response to Alan Holton’s article on business continuity and succession planning, Tony Calitz, a sole proprietor in Durban, raised a number of very important considerations. Most clients will NOT simply grant permission […]
Council of Medical Schemes – New fees announced
In a recent communication from the Council of Medical Schemes: Amendments to Regulation 31 and 32 published in terms of the Medical Schemes Act 1998 (Act No. 131 of 1998) ), the following […]
TCF in Dispute Resolution
An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let […]
Compliance Officer Requirements amended
The Registrar of Financial Services Providers has published the following documents on the official web site of the Financial Services Board: The Amendment of the Notice on Qualifications, Experience and Criteria for Approval […]
TCF in Dispute Resolution
An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let […]
What to look for in structured products
In today’s uncertain climate, financial advisers have to consider risk very carefully. How much risk is appropriate for different clients, and how it is managed are critical questions when putting together investment plans. […]
Contradictory views on Material Terms?
The latest Newsletter from the Short-term Ombud contains details of a rejected claim as a result of the fact that, at underwriting stage, the client did not inform the insurer of previous losses. […]
New User Guide for the FAIS Online Reporting System
It is of the utmost importance that FSPs download and save a copy of this important document. It provides step-by-step guidelines on how to interact with the Regulator on the following matters: Submission […]
Placing Business Overseas
A recent case from the Enforcement Committee reinforced the importance of making sure that one understands the requirements contained in regulations and directives issued from time to time. The latest version of Directive […]
FSP Expectations from Product Providers
A landmark research report from Insight Discovery shows what IFAs expect from LISPs and asset management companies. Market intelligence firm Insight Discovery released its second South African Investment Panorama (SAIP), a survey of […]
Ombud Advice to Policyholders
The Short-term Ombud warned policyholders against taking premium holidays when there is too much month at the end of the money. During tough economic times, cash-strapped consumers are forced to prioritise their monthly […]
Ombud Overturns Rejected Claim
The latest Ombudsman’s Briefcase contains a number of case studies. It is interesting to note that the insurers involved are named in all of these cases. Below is one such a case, and […]
Alles is nie verlore nie
Alister Coetzee se besluit om nie te torring aan sy span van verlede week nie, behalwe waar beserings dit noodsaak, sal waarskynlik kritiek uitlok. In die kort tydjie wat hy in die stoel […]
