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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Thus far in this series of articles, we covered the need to embed fair treatment of customers in the culture of your business, and ensuring that the products you recommend address the real […]
Sharemax made the headlines again last week, after a relatively long lull in media exposure. It was reported that SARS applied to the North Gauteng High Court to liquidate Sharemax Investments in view […]
Outcome 2: Financial services & products rendered to clients are designed to meet the needs of clients. Your first thought is possibly: this does not apply to me. Think again. This outcome of […]
The Deputy Registrar of Financial Services Providers invited industry input on a proposed Guidance Note on the interpretation and application of section 13(1)(c) of the Financial Advisory and Intermediary Services Act, 2002. This […]
By Steve Manning It’s been a strange time In the same week the senate inquiry released a damning report against the financial advice provided by Commonwealth Financial Planning (CBA), the government quietly rolled […]
A survey amongst FSPs would very likely reveal a “wait and see” approach from the majority of smaller businesses as far as Treating Customers Fairly is concerned. Many of those who adopted a […]
There is a tendency to see legislation that regulates financial services as operating differently from other laws. While the processes may sometimes differ, the same principles apply. This became evident in a recent […]
The whole messy business of institutionalised churning reminds me of the wise words of George Bernard Shaw: “A government that robs Peter to pay Paul can always depend on the support of Paul.” […]
Information Letter 2 of 2014, issued on 29 August, provides clear guidelines on what co-administration agreements should contain, and what not. The Registrar of Long-term Insurance is concerned that certain existing agreements do […]
