SARS responds to reports of hackers accessing practitioners’ eFiling profiles, removing clients, and changing banking details.
Read moreThe Deputy Registrar of Financial Services Providers invited industry input on a proposed Guidance Note on the interpretation and application of section 13(1)(c) of the Financial Advisory and Intermediary Services Act, 2002. This […]
By Steve Manning It’s been a strange time In the same week the senate inquiry released a damning report against the financial advice provided by Commonwealth Financial Planning (CBA), the government quietly rolled […]
A survey amongst FSPs would very likely reveal a “wait and see” approach from the majority of smaller businesses as far as Treating Customers Fairly is concerned. Many of those who adopted a […]
There is a tendency to see legislation that regulates financial services as operating differently from other laws. While the processes may sometimes differ, the same principles apply. This became evident in a recent […]
The whole messy business of institutionalised churning reminds me of the wise words of George Bernard Shaw: “A government that robs Peter to pay Paul can always depend on the support of Paul.” […]
Information Letter 2 of 2014, issued on 29 August, provides clear guidelines on what co-administration agreements should contain, and what not. The Registrar of Long-term Insurance is concerned that certain existing agreements do […]
Two recent articles in Business Day highlight the need for circumspection before implementing the demarcation proposals. The Board of Healthcare Funders (BHF) pointed out that the affordability of medical schemes is seriously hampered […]
From enquiries we receive it appears that there is much confusion about qualification requirements for the appointment of key individuals. Much of this stems from the so-called transitional period before 2010 when allowances […]
When certainty is lacking, people often make assumptions. As we all know, to assume often leads to making an Ass of U and ME. Speculation about what the new regulatory environment will look […]
I recently spoke to a broker in the North-West Province who only conducts short-term business, but is also licenced for several other categories. This is quite common – many of those who applied […]
The FSB has a new approach to regulation, in line with its additional obligations under Twin Peaks. Mr Jonathan Dixon, Deputy Executive Officer: Insurance at the FSB, reiterated the Regulator’s stance as late […]
Tony, a reader in Durban, was one of several people who responded to an article on this subject in the Moonstone Monitor of 24 July 2014: The issue of commission on orphan policies […]
What happens to the commission of intermediaries who resign, or whose contracts with product providers are cancelled? The latest FAIS Ombud newsletter contains an example which throws some light on the subject. Ombud […]
The office of the FAIS Ombud published its fourth determination against a financial advisor on Friday. In essence, it found that, in four all instances, the losses suffered by investors resulted from clients […]
The National Treasury (NT) and Financial Services Board (FSB) requested public comment for the proposed amendments to Insurance Binder Regulations issued under the Short-term and Long-term Insurance Acts published in Government Gazette No. […]
A recently published article on SA Government Online addresses public concerns “…fuelled by rumours that Government will take away people’s hard-earned pensions and prevent them from accessing their funds.” “These rumours are based […]
