High Court orders insurer to reconsider unfair debarment carried out in 2016

The applicant only became aware in May last year that the decision to debar her constituted administrative action.

Unclaimed Retirement Benefits

The latest Annual Report of the Registrar of Pension Funds states that approximately Twenty billion Rand in unclaimed benefits is owed to about 3.5 million beneficiaries. Many funds employ the services of tracing […]

RDR and CPD – What to do now?

I received a call from a reader last week asking for advice on which of the three proposed adviser models would suit his situation best: independent, multi-tied or tied adviser? Of the 55 […]

Private Practitioners take on Genesis

TimesLIVE reports that the medical aid scheme’s attempt to reduce the amounts payable for prescribed minimum benefits met with resistance from the SA Private Practitioners’ Forum who claimed that the scheme’s financial statements […]

Miss-Selling Allegation Countered

The Lewis Group indicated that it will refund a total of R69 million in premiums and interest to pensioners and self-employed customers who were sold policies for loss of employment, which would, of course, […]

Summertime and the levies ain’t easy

I am sure that many readers will sing along with this version of the old George and Ira Gershwin classic. The 2015 levy invoices will be mailed by 30 September 2015 and will […]

To trust, or not to trust?

Professor Willie van der Westhuizen, a renowned expert on the matter of trusts, recently published an informative article on the future of trusts after the publication of the First Interim Report on Estate […]

Reality Check on Household Items

A broker is not expected to assist a client in determining the value of household items. Providing guidelines, however, will count in your favour should a dispute arise. In May 2015, the Short-term […]

FAIS Notices 81 and 82 of 2015

In response to a number of enquiries, we provide some clarification on the content of these important notices. We encourage you to read this in conjunction with the actual documents which are linked […]

Moving Clients to a new FSP

Representatives in the short-term industry who move to a new FSP, often take their clients with them. There are very specific legal requirements in this regard, and ignoring it can have a costly […]

Upfront Remuneration on Savings Plans

We are aware of at least one product provider who offers upfront discounted fees, plus further payments in years 6 and 11 of the plan. Whilst this option contains a number of positive […]

Update on Debarment Article

On 18 June, an article titled More debarments end up in court reported on two representatives who turned to the courts after being debarred by their former employer. In an urgent application in […]

Update on level II REs and CPD

The initial idea was for the Level II REs to focus more on product knowledge, with CPD kicking in afterwards to ensure you stay up to date with developments in your chosen fields of […]

FSB FAIS Newsletter 17

This very welcome FSB publication, published on 30 June 2015, contains a lot of need-to-know information. Some topics were covered in our publications before, but this is an excellent document to keep in a safe […]

FSB Guidance Note on Section 13(1)(c)

This guidance note comes into effect in a few days, and will have serious consequences for a number of FSPs and representatives. Alan Holton, a FAIS specialist, shares his views on the practical […]

Important FAIS Guidance Note

The FSB published guidelines on the correct interpretation and application of section 13(1)(c) of the FAIS Act which states: A person may not render financial services or contract in respect of financial services […]

PAIA Deadline Looming

The ill-fated Promotion of Access to Information Act of 2000 is rearing its head again. Moonstone Compliance provides all its clients with a PAIA manual. The cost of producing such a manual varies […]