We are experiencing a noticeable increase in enquiries from the industry for assistance with licence applications. The documentation and supplementary information required by the FSB in order to assess such applications have become […]
Up front bonuses, offered by insurance companies to entice financial advisers to leave their current insurer and join another, were prohibited by the Financial Services Board in December 2014. In a media release on […]
We recently came across a very useful summary of what one can expect when POPI becomes a reality. The latest newsletter from attorneys, Van der Spuy & Partners of Thom Street, Paarl and […]
Despite warnings and guidelines from the Regulator, it appears that personal vendettas are in some instances a stronger driver than legal obligations. I received the following enquiry from a reader on 7 March: […]
The National Treasury and Financial Services Board issued a media release on 5 March 2015 to inform the industry of the signed Declaration Notice from the Minister of Finance and the final Determination from the […]
The Registrar released a draft circular titled, The Commencement of Participation, Termination and Re-Commencement of Participation of Participating Employers in Umbrella Funds, on 27 February 2015. The introduction states that the Registrar wishes to provide […]
The court case, in which 13 credit providers and the law firm that facilitated the EAOs are involved, is drawing wide interest in the media. It sets out to determine, amongst other issues, […]
The Botha Determination by the FAIS Ombud certainly touched on a sensitive area, never covered before in the same detail as in this case. The Ombud found that the clients suffered loss as […]
The latest FAIS Ombud determination should be regarded as compulsory reading for intermediaries in the investment business. The investments occurred around the time of the world economy meltdown. The determination discusses the needs […]
Cutting Edge Regulatory Workshops Anton Swanepoel’s popular, informative and practical Regulatory Workshops will be run again in March this year. There will be two presentations – one focussing on short-term intermediaries, and one […]
Take 1 I recently received an e-mail from a client regarding a complaint laid against him with the Short-term Ombud. Fortunately, due to me ticking all the boxes, crossing all the T’s and […]
We would all like to believe that, since the introduction of the FAIS Act in 2004, things have changed for the better, and that clients are less exposed to advice which has only […]
The Registrar of Financial Services Providers (the Registrar) referred a case against Talksure Trading (Pty) Limited (the Respondent) to the Enforcement Committee of the Financial Services Board. The referral relates to a contravention […]
The Draft Market Conduct Framework, published in December last year, identified the diversity of legislation regulating different sectors of the industry as one cause for the Regulator’s inability to supervise effectively across the […]
We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]
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 […]
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 […]
