Legalbrief Today published an article on 3 September titled “New health cover demarcation regulations imminent” which notes that the final demarcation regulations for short and long-term health insurance will be gazetted in September. […]
City Press recently published a very interesting article by Neesa Moodley titled The problem with Ponzis and pyramids. Everyone wants to get rich, and some want it to happen as fast as possible. This is often the reason […]
According to a Business Day Live report, the long-awaited White Paper on National Health Insurance (NHI), together with a linked discussion document on financing options, are about to enter the Cabinet process. A […]
Legalbrief Policy Watch reports that the Financial Sector Regulation Bill is expected to be tabled in Parliament later this month. The report also states: “Several references in the briefing document to a ‘Market […]
We posed some follow-up questions to the FSB on the contents of FAIS Notices 81 and 82 of 2015 and include their response below: Are eligible FSPs, wanting to make use of the […]
The latest Ombud Briefcase contains a number of case studies which provides guidance on key aspects of the industry. Non-disclosure of a criminal record A direct insurer rejected a claim on the above […]
FAIS Newsletter 17 contains details of the outcome of this special compliance audit to investigate the link between the payment of sign-on bonuses and the replacing of products as a result thereof. The […]
It is not only in rugby that we see different standards being applied by those tasked with applying the rules. The recent banning of an adviser in Australia, compared to some recent appeals […]
A very important recent judgment clarifies the issue of what a client has to disclose after effecting insurance. The Mercury reports as follows: “Two years ago Pietermaritzburg High Court Judge, Piet Koen, ruled […]
The latest decision by the FSB Appeal Board contains an interesting perspective on the impact of remorse in cases where a review of a decision by the Regulator is requested. The reasons for […]
Two financial advisers in KZN turned to the High Court in Pietermaritzburg after being debarred by their former employer. According to an article in the Mercury, the reason for the debarment, given by […]
FSPs with a financial year end of 28 February, have until the end of June to submit their Financial Statements to the FSB. The Exemption of FSPs and Representatives from Section 13(1)(c) of the […]
The FSB Appeal Board issued an urgent notice recently regarding late lodging of appeals after a decision in the Cyclone Matibe Makola case against the Registrar. In this case, the appellant noted his appeal some […]
At the recent Discovery Financial Planning Summit, the FSB gave feedback on some of the responses it received to the discussion document on the Retail Distribution Review. It also provided possible timelines for […]
In a media release, issued on 27 May 2015, Caroline da Silva, the Deputy Executive Officer for FAIS at the FSB warns the public against conducting business with schemes before verifying whether it […]
This publication reveals some interesting statistics: The total number of complaints received amounted to 10 253, an increase of 9.5% over the previous year. Complaints unresolved after six months totalled only 54 at […]
Board Notice 101 of 2015 contains details of the levies payable by 31 October 2015: Levy on Category I and IV FSPs: Base amount of R3 391 Fee of R542 per KI/Rep Levy on Category II, […]
