“You must, at all times, take reasonable steps to safeguard the mobile device from loss, damage or theft” – policy wording that a client challenged when her cell phone claim was rejected by […]
“You must, at all times, take reasonable steps to safeguard the mobile device from loss, damage or theft” – policy wording that a client challenged when her cell phone claim was rejected by […]
Financial advisors are required to clear many hurdles when it comes to regulatory compliance. Those who choose to ignore the rules can find themselves at the wrong end of justice. In the financial […]
The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard on 25 June 2019 should result in serious introspection by the office of the FAIS Ombud. Whilst not […]
Last week, President Cyril Ramaphosa signed the controversial National Credit Amendment Bill into law. In short, the legislation will provide debt relief for consumers who earn R7 500 per month or less and have […]
Last week, President Cyril Ramaphosa signed the controversial National Credit Amendment Bill into law. In short, the legislation will provide debt relief for consumers who earn R7 500 per month or less and have […]
Section 13A of the Pension Funds Act (PFA) requires that employers pay contributions for a particular month within seven days after month-end. It also stipulates that they provide member schedules in respect of […]
Section 13A of the Pension Funds Act (PFA) requires that employers pay contributions for a particular month within seven days after month-end. It also stipulates that they provide member schedules in respect of […]
On Thursday, Health Minister Zweli Mkhize released the much-awaited National Health Insurance (NHI) bill in Pretoria. He said that it is expected to be fully functional in South Africa by 2026. The Health […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
The FSCA has just released the FSRA Exemption Notice 1 of 2019 (LTIA). According to the notice an insurer that offers assistance policies, funeral policies or micro-insurance policies is exempted, in terms of […]
“The Office of the FAIS Ombud is committed to resolving complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. In this vain, the […]
“Banks should obtain permission from consumers before transferring funds from consumers’ accounts to pay amounts due under credit agreements”, Nomsa Motshegare, Chief Executive Officer of the National Credit Regulator (NCR) commented after a […]
Since representatives were given the right to appeal to the Financial Services Tribunal against debarment decisions, many such actions have been set aside by the Tribunal. In most of these cases the prescribed […]
On 1 April 2018, the debarment process under the FAIS Act was amended by the FSR Act 9 of 2017. In terms of section 14(3) of the FAIS Act, a FSP must, before […]
The Momentum/Ganas case, which caused a public outcry in November last year, was one of the matters discussed in the Long Term Ombud’s Annual report. According to Ron McLaren, Long Term Ombud, there […]
