FSB Directive on Causal Event Charges
Following on from a recent draft document calling for input from the industry, the Registrar has now published a directive on the maximum causal event charges which may be deducted under Part 5A […]
Compliance and Legislation
New Debarment Notification Document
FAIS Circular 7, issued by the FSB this week, contains details of a new debarment notification document which comes into effect tomorrow, 1 November 2013. The background to this new form was discussed […]
FSB in the Box
I came across a most interesting document on the FSB website. Allan Greenblo, Editorial Director of Today’s Trustee, conducted an interview with Mr Dube Tshidi (pictured above), executive officer of the FSB. One […]
Risk Management Plans
Section 11 of the General Code deals with the control measures required: “A provider must at all times have and effectively employ the resources, procedures and appropriate technological systems that can reasonably be […]
FSB and Ombud Levies
All registered FSPs should, by now, have received their invoices in respect of the FSB and FAIS Ombud levies. These levies are for the period 1 April 2013 to 31 March 2014. If […]
Amazing Investment Offered…
A reader sent me a pamphlet from a company called Aspaya. They offer an unbelievable return on investment, and I use the word unbelievable intentionally. “TalentShare Wealth Creation Program I is a six […]
Bluezone Directors Held Liable for Losses
In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]
FSB Telematics Broadcast 3 October 2013
The agenda of the 3rd of October’s broadcast is very similar to the workshop intended for licence category II and IIA FSPs, and includes the same speakers. 3 October 2013 – Satellite workshop […]
When is a complaint out of time?
The recent Bester determination by the FAIS Ombud provides guidance on the requirement that a complaint must be lodged within three years. We often understand this to mean from the time the advice […]
FSB Warning Against Unlicensed Entities
The FSB urgently called on the public to refrain from conducting business with the following entities: Ledimar Ledimar Financial Services (Pty) Ltd; Ledimar Stock Trading (Pty) Ltd; and Ledimar Investment Holdings CC. Their […]
Important FSB Presentations
Investment Workshop – 2 October 2013 – Old Mutual Conference Centre – Pinelands This workshop is intended for licence category II and IIA FSPs and will cover the following topics: Unregistered investments, due […]
Physician Heal Thyself
The Council for Medical Schemes (CMS) published its annual report on 3 September 2013. The 5-page media release contains some very interesting statistics about trends in the industry, as well as a summary […]
The importance of Effective Oversight
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 […]
Prohibition of Inducements
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 Challenge of ethics and professionalism Or how to create your own Twin Peaks
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 […]
Managing an FSB Compliant Practice
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 […]
Edwafin Chickens Come Home to Roost
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 […]
