The Registrar published a draft notice setting out conditions for investments in hedge funds by Pension Funds. Despite the declaration of a hedge fund as a collective investment scheme, any investment by a […]
I was reading through an earlier Ombud determination when I came across the following: Third respondent goes on to state that the Second respondent met with the clients personally to re-allocate the clients’ […]
The original RDR Proposal on replacements provided that “…long-term insurers would be prohibited from paying any form of commission or fee to an intermediary in respect of the replacement of life risk policies. […]
The term “regulatory instrument” appears in the Financial Sector Regulation Act and includes, inter alia, a prudential standard, a conduct standard and a joint standard. These regulatory instruments form part of the Financial […]
The FSB published its Retail Distribution Review (RDR) discussion document, which contained a total of 55 specific regulatory proposals, in November 2014. A subset of 14 RDR proposals was identified for implementation in “Phase […]
The RDR feedback provided at the FSB Insurance seminar elaborated on conflicts of interest which may impact on an adviser’s objectivity. The following three were discussed: Binders and outsourcing – stricter conflict controls […]
A comprehensive update on the Retail Distribution Review will be published in the next two weeks. A glimpse into what this will entail was presented at the FSB Insurance Regulatory Seminar in Cape […]
It is fairly common practice in certain sections of the industry to make use of third parties to obtain new business. A recent order made by the Enforcement Committee serves to remind those […]
Are you, as an experienced financial services provider, equally well equipped to manage the challenges confronting your business? The constant raft of regulatory changes necessitates a professional research and development function in even […]
This article is made available with the kind permission of Miller’s Incorporated. “My business recently had to pursue disciplinary action against an employee. This was a difficult decision and process but we eventually […]
The dilemma facing financial services practices who are not obliged to appoint a compliance officer were highlighted recently by a rather frantic call from a one-person FSP after being informed by the FSB […]
This article is made available with the kind permission of Miller’s Incorporated. With estate planning becoming more sophisticated, more and more trusts are being established. Simultaneously, divorces are increasing by around 8.6% per […]
Hierdie artikel word gepubliseer met die goedgunstige toestemming van Van der Spuy en Vennote. Die munisipaliteit het my in kennis gestel dat hulle my elektrisiteitvoorsiening gaan afsny omdat daar uitstaande betalings ten opsigte […]
Laura du Preez wrote in Personal Finance on 12 September 2015: Providers of primary healthcare plans that may soon be disallowed say that low cost benefit medical scheme options will not cater for people using […]
Legalbrief Today reported as follows on an article in Business Day: Institutions have cited the prospect of a spike in the cost of compliance as a major issue that might arise from proposed […]
MSC Circular 59 of 2015 contains proposed amendments to the Medical Schemes Act, including various fee increases. Regulation 31 deals with the amounts payable to register a medical scheme, to accredit an administrator, […]
A recent article in Times Live contained some interesting views on the impact of the Protection of Personal Information Act, once it comes into effect. Telemarketing expert and CEO of the Marketing Association […]
