FSB: Debarment Guidelines
At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key […]
Compliance and Legislation
FSB: Guidelines on Advertising and Marketing
In the light of an increase in practices relating to advertisements, brochures and similar communications that are contrary to section 4(3) of the Long-term and Short-term Insurance, steps aimed at addressing this were […]
POPI: Are you all set?
This article is published with the kind permission of Van der Spuy and Partners in Paarl and Cape Town. The protection of privacy in South Africa has undergone intense investigation over the last […]
FAIS Ombud 2012/2013 Annual Report
The statistics section of the Ombud’s report provides useful insight into trends in the industry. New complaints received During the applicable year, the FSB received 9 949 complaints. The total number of complaints […]
FSB Directive on Causal Event Charges
Following on from a recent draft document calling for input from the industry, the Registrar has now published a directive on the maximum causal event charges which may be deducted under Part 5A […]
New Debarment Notification Document
FAIS Circular 7, issued by the FSB this week, contains details of a new debarment notification document which comes into effect tomorrow, 1 November 2013. The background to this new form was discussed […]
FSB in the Box
I came across a most interesting document on the FSB website. Allan Greenblo, Editorial Director of Today’s Trustee, conducted an interview with Mr Dube Tshidi (pictured above), executive officer of the FSB. One […]
Risk Management Plans
Section 11 of the General Code deals with the control measures required: “A provider must at all times have and effectively employ the resources, procedures and appropriate technological systems that can reasonably be […]
FSB and Ombud Levies
All registered FSPs should, by now, have received their invoices in respect of the FSB and FAIS Ombud levies. These levies are for the period 1 April 2013 to 31 March 2014. If […]
Amazing Investment Offered…
A reader sent me a pamphlet from a company called Aspaya. They offer an unbelievable return on investment, and I use the word unbelievable intentionally. “TalentShare Wealth Creation Program I is a six […]
Bluezone Directors Held Liable for Losses
In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]
FSB Telematics Broadcast 3 October 2013
The agenda of the 3rd of October’s broadcast is very similar to the workshop intended for licence category II and IIA FSPs, and includes the same speakers. 3 October 2013 – Satellite workshop […]
When is a complaint out of time?
The recent Bester determination by the FAIS Ombud provides guidance on the requirement that a complaint must be lodged within three years. We often understand this to mean from the time the advice […]
FSB Warning Against Unlicensed Entities
The FSB urgently called on the public to refrain from conducting business with the following entities: Ledimar Ledimar Financial Services (Pty) Ltd; Ledimar Stock Trading (Pty) Ltd; and Ledimar Investment Holdings CC. Their […]
Important FSB Presentations
Investment Workshop – 2 October 2013 – Old Mutual Conference Centre – Pinelands This workshop is intended for licence category II and IIA FSPs and will cover the following topics: Unregistered investments, due […]
Physician Heal Thyself
The Council for Medical Schemes (CMS) published its annual report on 3 September 2013. The 5-page media release contains some very interesting statistics about trends in the industry, as well as a summary […]
The importance of Effective Oversight
The latest determination by the Ombud contains several important pointers for advisors, particularly from a record keeping and oversight perspective. The Van Vuuren couple, at the respective ages of 66 and 69, effected […]
