Costs order against FSCA for ‘irregular and unlawful’ debarment

The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.

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Hippo Comparative Services Fined R1 million

We received the following media release from the FSB over the weekend: The Registrar of Financial Services Providers (Registrar) referred a case against Hippo Comparative Services (Pty) Ltd (the Respondent), FSP number 16357 […]

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Address changes

  Drafting this article reminds me of the saying “preaching to the converted”. If you are reading this, then obviously your address on our database is correct. We do, however, receive many calls […]

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FSB Information Letter 3 on Binder Regulations

The purpose of the document is to provide guidance on: Activities that constitute binder functions Remuneration payable by the insurer to the binder holder and The Registrar’s interpretation of the regulations from a […]

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FSB Presentations in 2013

The FSB published a list of communication events to be hosted by the FAIS Division between June and December 2013. The events are aimed at FSPs, key individuals, compliance officers and representatives. Please […]

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FSB warns against NaxaInvest

In a recent press release, the Regulator warned the public against conducting business with NaxaInvest. It is not authorised as a financial services provider and is not a representative of an authorised financial […]

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Industry News Summary

Readers who, like us, find value in the monthly summary of industry events published by InsuranceGateway can click here for a copy of the April summary. The very topical issue of “underwriting at […]

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Temporary Disability Offers New Opportunity

FMI, an income protection specialist company, retained True South Actuaries and Consultants to investigate the market for disability cover in South Africa and report on such efficiencies and inefficiencies as are found. Their […]

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FAIS Ombud Discontinues Case Fees

The following announcement was published on the home page of the FAIS Ombud: In terms of the Financial Advisory and Intermediary Services Act, read with Rule 9(a) of the Rules of Proceedings of […]

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NAIFA No Longer

The National Association of Independent Financial Advisers (NAIFA) was terminated in February, according to an article in the Financial Mail. According to its website, “NAIFA was established in South Africa late in 2010 […]

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Inseta Broker Network Update

The Inseta Broker Network provides free membership. Its aim is to assist brokers, and their support staff, with training related matters. I must admit that “eduspeak” often confuses me no end. Hopefully this […]

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Remuneration Review Part II

This is the balance of the article, the first part of which was published in the Moonstone Investment Indicators last Monday. It appears in the March edition of the ASISA publication “In the […]

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FSB Clarifies Press Release

In a media statement, issued on Thursday, 11 April 2013, the FSB advised that Zargogen, trading as Sharepartner, The Shareholder Partnership, TSP, was not a licenced FSP and investors were cautioned not to […]

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FSB doen Stappe na Outsurance Uitspraak

Kort na die hofuitspraak waarin daar in Outsurance se guns bevind is ten opsigte van ‘n eis wat hulle verwerp het, het die Reguleerder ingetree om ‘n herhaling te voorkom van wat blyk […]

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Intermediary Remuneration Review Part I:

We shared information on this topic before. The March edition of the ASISA newsletter, “In the Loop”, contains new insights which we believe assists better understanding of this very important topic. We quote […]

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