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 […]
The word “prohibition” always conjures up images of Al Capone and his merry men, armed with Tommy guns, outsmarting the cops who had to apply the ban on liquor which the majority of […]
The last decade of our profession has seen tumultuous changes in regulation and consumer awareness. The changes affected both financial advisers and product providers. The next wave of regulation, from TCF to twin […]
The FSB presentation on Tuesday, 3 September, is possibly the most comprehensive, up to date guide available on managing a practice, and the DVD belongs in the library of everyone who is serious […]
Two FAIS Ombud rulings were published on Friday, both concerning investments made via an FSP in Edwafin, a venture capital company in KZN which offered 18% guarantees on debentures. Edwafin started advertising aggressively […]
These communication sessions offer the industry an opportunity to communicate directly with the Regulator on practical matters. When I looked at the registration page this morning, there were still a number of empty […]
Older readers may well remember the Joel Mervis column in the Sunday Times which usually started with: “There I was, sitting drinking Slivovitz, waiting for a war to break out.” I was reminded […]
In the introduction to this proposed amendment, the Regulator states: The FSB, through the General Financial Services Laws Amendment Bill, 2012, proposed the insertion of a definition for “continuous professional development” in the […]
In a notice published last week, the FSB requests input from the industry on proposed amendments to three Board Notices: The 2008 Determination of Fit and Proper Requirements The 2008 Determination of Qualifications […]
August is quite an important month in terms of FSB requirements. FSPs who are obliged to appoint a compliance officer must submit their compliance reports by 15 August. Category II FSPs must ensure […]
I toyed with several titles when contemplating writing this article, but finally settled on this one, from a Roald Dahl short story. A typical Dahl tale contains unexpected developments in the story line, […]
We briefly touched on this topic in a previous article FSB Enforcement Committee. In this article we expand on the actual workings of the Enforcement Committee, and provide information that will stand you […]
Other than what the name suggests, this is not the kind of entity that will pitch up in the middle of the night with a baseball bat to test your reflexes by beating […]
Monday’s article, Debarment under the Loop, was based on a High Court judgment which led to the reinstatement of a representative who was debarred. Our article evoked a flurry of enquiries from the […]
Our extremely popular workshops on binder regulations and outsourcing agreements are now open for Registration. Since the last workshop, a lot more clarity was provided by the Regulator on its interpretation of these […]
A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]
Following a further consultative process, the FSB issued Information Letter 3 of 2013 on the 1st of July. This document is of major importance to all binder holders, as well as holders of […]
