Tax Free Savings Approved
The final Notice and Regulations that allow for the introduction of Tax Free Savings and Investment Accounts (“TFSAs”) with effect from 1 March 2015 were approved by the Minister of Finance, according to a media […]
Old Mutual Unit Trust Managers off the hook for R1.7 billion claim arising from Fidentia scandal.
Read moreThe final Notice and Regulations that allow for the introduction of Tax Free Savings and Investment Accounts (“TFSAs”) with effect from 1 March 2015 were approved by the Minister of Finance, according to a media […]
In a recent article in Moneyweb Today, Patrick Bracher, a director of Norton Rose Fulbright is quoted as saying: “New financial advice regulation contained in the Retail Distribution Review (RDR) highlights the failure […]
The Retail Distribution Review is the fourth in a series of documents which aim to address unsatisfactory outcomes for contractual savers. The December 2004 National Treasury Discussion Paper on Retirement Fund Reform appeared shortly […]
We regularly receive enquiries from readers who are considering selling their practices. One of the big problems is establishing a fair value. This is normally determined by the turnover of the business, and […]
On 23 January, our article: Improving Internal Complaint Mechanisms discussed the proposed measures, contained under the draft Market Conduct Framework, to align your internal complaints management framework with the TCF outcomes. The same […]
We receive regular enquiries about people wanting to qualify to become “Finance and Insurance” (F & I) consultants in the motor industry. In order to become an F & I, one needs the […]
Your article on remuneration for different services made a lot of sense to me, and certainly deserves further discussion. As the IFA gets squeezed from all sides [extra work, less income & increased […]
The figures published in the Retail Distribution Review discussion document provide a very clear picture of the current make-up of the industry in terms of market segmentation of advisors. In the past it […]
While there is clarity on the existing remuneration system, which is essentially commission driven, proposals under the Retail Distribution Review aim to differentiate between various kinds of services, and establish fair remuneration for […]
In response to an article: “Disclosure of Material Terms” we published last week, a reader responded as follows: Dear Paul, No broker can possibly explain every single clause in a multi-page legal contract […]
A Draft “Market Conduct Framework” was published in December for comment. It contains the latest thinking by the Regulator on a number of key issues. The following is a synopsis of the rationale […]
FAIS Notice 36 of 2014, which was published in May last year, exempted FSPs and representatives from complying with the following requirement in the FAIS Act: “A person may not render financial services […]
The FSB’s Information Letter 4 of 2014 discusses changes to the tax deductibility of income protection policies in view of changes announced in the Taxation Laws Amendment Act which became effective on 12 December 2013. […]
The FSB’s views of the current landscape of the industry are contained in Section 2 of the retail distribution review discussion document, and are broken up in sector specific sections. Binder agreements and […]
It is difficult to understand how the UK Regulator managed to misinterpret the possible reaction to its implementation of Fees for Commission. A report in the Telegraph comments on a survey conducted by […]
The swift reaction by the FSB to finalise this matter needs to be commended, particularly if one takes into account that the process, which was announced on 1 September, included consultation with the industry. […]