More Debarments end up in Court
Two financial advisers in KZN turned to the High Court in Pietermaritzburg after being debarred by their former employer. According to an article in the Mercury, the reason for the debarment, given by […]
The contract went through 10 iterations between July 2019 and March 2020, with the term ‘infectious and contagious diseases’ variously in or out.
Read moreTwo financial advisers in KZN turned to the High Court in Pietermaritzburg after being debarred by their former employer. According to an article in the Mercury, the reason for the debarment, given by […]
FSPs with a financial year end of 28 February, have until the end of June to submit their Financial Statements to the FSB. The Exemption of FSPs and Representatives from Section 13(1)(c) of the […]
The FSB Appeal Board issued an urgent notice recently regarding late lodging of appeals after a decision in the Cyclone Matibe Makola case against the Registrar. In this case, the appellant noted his appeal some […]
At the recent Discovery Financial Planning Summit, the FSB gave feedback on some of the responses it received to the discussion document on the Retail Distribution Review. It also provided possible timelines for […]
In a media release, issued on 27 May 2015, Caroline da Silva, the Deputy Executive Officer for FAIS at the FSB warns the public against conducting business with schemes before verifying whether it […]
This publication reveals some interesting statistics: The total number of complaints received amounted to 10 253, an increase of 9.5% over the previous year. Complaints unresolved after six months totalled only 54 at […]
Board Notice 101 of 2015 contains details of the levies payable by 31 October 2015: Levy on Category I and IV FSPs: Base amount of R3 391 Fee of R542 per KI/Rep Levy on Category II, […]
FAIS Newsletter 16, published in December 2013, contains the following information: Sections 5.4 of the Administrative Code of Conduct and 5.2, 5.3 of the Discretionary Code of Conduct deal with the approval of […]
Where you find the laws most numerous, there you will find also the greatest injustice, said the ancient Greek philosopher, Arcesilaus. If we were to publish a list of all legislation pertaining to […]
Board Notice 92 of 2014 comes into effect on 1 May 2015. It contains new disclosure requirements for advertising and marketing material in respect of collective investment schemes. It also places specific obligations on advisers […]
Mr. W. (insured) submitted a complaint against his insurer, Dial Direct Insurance, in respect of a vehicle hijacking incident. The insurer rejected the claim on the basis that Mr. W. did not provide […]
As a result of the rapidly changing nature of the financial services landscape in South Africa, the FSB is implementing a new system to ensure that it is able to effectively monitor the […]
The Financial Sector Regulation Bill (FSRB) is a huge document comprising 17 chapters, 242 sections and is 136 pages long. There are, in addition, 4 schedules and 70 pages of proposed amendments or […]
Section 2 of the General Code of Conduct requires that ‘a provider must at all times render financial services honestly, fairly, with due skill, care and diligence, and in the interests of the […]
Scarcely a week after announcing its intent to investigate the impact of sign-on bonuses on churning, the Regulator called for a special compliance report to be completed by FSPs registered as Long-term insurers. […]
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 […]