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debarment1

Debarment – 3 critical steps to comply

The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. It is important that these requirements should be contained in an FSP’s policies and procedures governing its debarment process. The Guidance Notice shares the […]

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CPD – two month exemption to comply

Last week the FSCA published the Exemption from Continuous Professional Development Requirements, 2019 – No 2 of 2019 on its website. The purpose of the Exemption is to allow financial services providers, key individuals and representatives who did not comply with the CPD requirement on the 31st of May, until 31July 2019 to comply with requirements set out in the Determination […]

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Cyber insurance

Cyber insurance – A first priority for SMEs

Late last year, Business Report shared that according to the global Cyber Exposure Index, South Africa currently has the sixth highest average exposure to cybercrime, with businesses in the industrial and financial sectors being the most commonly targeted by cybercrime attacks. Another similar report revealed that around 61 percent of small businesses experienced a cyber-attack […]

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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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Finance

Behavioural science leads to better returns

Financial Planner of the Year shares tips – Behavioural science leads to better returns In a recent Business Report article, Janet Hugo Financial Planner of the Year, shares how behavioural finance can be used in an efficient and practical manner in the wealth-management process. According to Hugo one of the easiest ways to incorporate investor […]

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Retirement-plan

Retirement fund default strategies

Trustees grappling with post-retirement risks According to a recent Moneyweb article, very few retirement funds have implemented default strategies ahead of the March 1, 2019 deadline. According to Barend le Grange, head of individual member support at Sanlam, a lot of funds are leaving the implementation of the default strategies quite late. Viresh Maharaj, chief executive for […]

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algorithm

Machine-learning algorithm beats 20 lawyers in NDA legal analysis

LegalBrief recently shared a Techspot article that reported that while most of the jobs that get displaced by computers require little or no education, even highly-educated positions could be replaced by automation: “A recent study by LawGeex pitted its machine-learning AI (Artificial Intelligence) against 20 human lawyers to see how it would fare analysing contract […]

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Incentives

Behaviour change study on physical activity – Incentives do play a role

A recent study showed unique insights into how incentives drive sustained behaviour change. According to the results of a ground-breaking new health behaviour study by RAND Europe, a leading independent research institute, financial incentives in Vitality’s Shared-Value Insurance model combined with Apple Watch led to a sustained 34% increase in people’s physical activity levels. The […]

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Retirement_

The state of the South African retirement crisis

A guaranteed income for life and leaving money for children and grandchildren are the most important needs for South Africans when reaching retirement. This is according to Just Retirement Insights, independent research commissioned by Just in which South Africans between the ages of 55 and 85 years in the major metropolitan areas were interviewed. When […]

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