Update from Cambist
Hanna Barry reports in Moneyweb Today that Cambist published a newsletter to investors in which they refer to an upcoming court case which may prove to be good news for investors who made […]
Compliance and Legislation
More Effective Regulation Envisaged
National Treasury publishes a revised draft of the Financial Sector Regulation (FSR) Bill for public comment. The revised Bill takes into account comments received on the first draft, published in December 2013, as well […]
Demarcation Regulations Update
On 19 December 2014, National Treasury and the Department of Health announced a postponement in the publication of the final Demarcation Regulations (“the Regulations”) till the second quarter of 2015. The final regulations […]
Causal Event Charges and TCF
More clarity on what constitutes causal event charges emerged from a recent Pension Fund Adjudicator determination after the complainant submitted that the deductions were “…exorbitant and do not comply with the principles of […]
2014 Compliance Report Workshop
FSPs not obliged to appoint a compliance officer need to submit their 2014 Compliance Reports by the end of February 2015. We invite all those affected to pre-book their seats at this popular annual […]
2014 Compliance Report Workshop
FSPs not obliged to appoint a compliance officer need to submit their 2014 Compliance Reports by the end of February 2015. We invite all those affected to pre-book their seats at this popular annual […]
Appeal Court Judgment on J Arthur Brown
The successful appeal by the State against the judgment by the High Court against J Arthur Brown certainly makes for interesting reading. The judgment found that the Western Cape High Court erred in […]
Moonstone RDR Workshops
The Retail Distribution Review will have a huge impact on the way business is conducted in all sectors of the financial services industry. We expect two reactions to the proposals: those who dig […]
Direct Marketers and Aggregators
Steven W writes: It seems that direct marketers of insurance, and those who actually meet with the public, have dissimilar disclosure requirements, with the direct marketers having considerably less of an obligation than […]
Alleged Investigation of the FSB
In a media release issued on 30 October 2014, the Financial Services Board (FSB) shared its views on a media statement circulated by Kadesh Consulting, which alleges that there is an investigation underway into, amongst […]
FAIS Department 2014 Annual Report
The information below was extracted from a supplementary report to the FSB’s Integrated Annual Report which provides an overview of activities of all divisions in the FAIS department for the year which ended […]
Is it Time for a Compliance Review?
Diligent financial advisors conduct regular reviews of their clients’ portfolios to ensure that their aims and goals are on track. This is not only a regulatory requirement, but essential for new business purposes […]
Appeal Court Addresses Conditional Selling
A FSB media release on 9 October highlights far-reaching implications for finance and loan providers who coerce clients to make use of in-house brokerages. A recent judgement by the Supreme Court of Appeal […]
Microlenders Challenged
Business Day reported on 12 October about a court challenge to what it terms “dodgy micro lending.” In an unprecedented legal challenge, the University of Stellenbosch’s Legal Aid Clinic (LAC) is taking on […]
Cadac Application Fails
The Financial Services Board (FSB) confirmed in a media release that an application for leave to appeal in a matter brought by Simon Nash, CEO at Cadac, against the regulator and a number […]
Direct marketing: How POPI has redrawn the battle lines
Posted on 1 September 2014 on the website of Millers Incorporated and re-published here with their kind permission. Hierdie artikel is ook in Afrikaans beskikbaar More and more consumers are becoming aware of […]
Due Diligence Obligations
The “why” of this requirement is clear to all, but the “what”, “how” and “when” remains one of the biggest grey areas for FSPs. If you place your client’s business with a leading […]
