Proposed Amendments to Tax Free Savings
The late publication of draft regulations for Tax Free Savings Accounts (TFSAs) on the National Treasury’s website means that there are only 10 days left for comment from the industry, according to Pam […]
Best Practice
Know your product’s exclusionary clauses
Your client advises that she has just bought a new car and wishes to insure it. Her current vehicle is to be sold, but she would like to keep it covered on her […]
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 […]
Embracing Technology in Your Business
A fluctuating economy, a competitive financial services landscape and abundant new legislation are just three of the countless challenges South African financial advisers contend with today. But while these challenges will undoubtedly contribute […]
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 […]
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 […]
Causal Event Charges Challenged – Part II
In Part I, we discussed the product provider’s response to a client’s questioning of how a causal event penalty of nearly R10 000 can accrue where there were no premium payments, commission, marketing or […]
Causal Event Charges Challenged – Part I
We recently came across an example of just how loaded the dice are against clients wishing to effect section 14 transfers. When requesting a quote for such a transfer, the client was informed […]
Buying a Business?
Financial advisers wishing to buy or sell businesses in South Africa are very much in the dark as to how to go about doing it, and very little support is available. Centurion Market […]
The Journey Towards Greater Client Centricity
By Florence de Vries It is no secret that, in a few years’ time, only today’s general insurance game-changers will be left standing. Research shows that today’s insurance customer is discerning, time-poor and […]
FSP FICA Obligations
There appears to be a fair amount of uncertainty about what exactly a financial adviser’s obligations under the Financial Intelligence Centre Act are. I suspect that, in many instances, many would rather NOT […]
2016 Budget Tax Bills
On 8 June, National Treasury and the South African Revenue Service (SARS) published the 2016 Draft Taxation Laws Amendment Bill (TLAB) and the 2016 Draft Taxation Laws Amendment Bill (TALAB) for public comment. […]
Keeping Customers Satisfied
This has always been an important component of business, even before Simon & Garfunkel turned the phrase into a hit song. A recent article on customer views of short-term insurers, led me to […]
Credit Provider Registration
The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit […]
Right to Privacy on Social Media
“My business partner managed to get hold of my Facebook password without my knowledge. I’m unhappy with the running of the business and have been talking to clients on Facebook about moving to […]
Who nominates the transferring attorney?
“I’m buying my first property. I’m quite nervous about everything and a friend of mine who is a conveyancer said she would help me with the transaction. However the seller is refusing and […]
Case Studies from the Short-term Ombud
Ombuds often provide practical insight into how our industry should operate. Material Misrepresentation or Simple Oversight? Mr. D contacted the insurer to insure a newly purchased vehicle. During the underwriting of the policy, […]
