Old Mutual Wealth Initiatives cause stir
Two media articles on the new Old Mutual Wealth business model, published on Wednesday, will certainly cause more than just a stir in the industry. As usual, the mention that commission would no […]
Industry News
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
Read moreNew subcategories of financial products
The draft document published by the FSB on proposed changes to the fit and proper requirements makes provision for further distinctions between certain product categories. In 2012 the Registrar granted an exemption to […]
Used Spare Parts Kosher Again
A few weeks ago, we reported on proposed legislative changes which would place a ban on the sale of spare parts from scrapped vehicles. A report on IOL News states that sanity appears […]
Commission Impact on Client Returns
Rob Rusconi shocked the industry in 2004 when he did a presentation to the actuarial society on the impact of expenses on retirement provision of individuals. In the ensuing investigation by the national […]
Wealth Management Qualification Training in August
Our next training session takes place from 27 to 29 August at the Oakdale Club in Bellville. Moonstone Intellectual Capital (MIC) offer learners the opportunity to qualify for the further education and training […]
NHI – Not All Plain Sailing
The proposed National Health Insurance (NHI) system is slowly but surely finding its way back into the media after a long lull. Reports earlier this week included a number of observations from luminaries […]
Seta Levies under the Microscope
It appears that it is not only schools that have educational problems. The Sectoral Education and Training Authorities (Setas) still have their fair share of troubles. New Seta grant regulations came into effect […]
Charges in Retirement Provision
On 11 July, the National Treasury released the last paper in a series of five technical discussion papers on promoting household savings and reforming the retirement industry. The first four were: Enabling a […]
Outsurance Advert in the Spotlight
Beeld recently published an article on the Outsurance advert which offers clients all their premiums back after 15 years. It certainly makes interesting reading, and raises a few points which I am sure […]
FSB Presentation: Non-Financial Services FSPs
Non-Financial Services FSPs – 9 July 2013 Agenda: Opening – Charene Nortier – FSB Overview of the FSB – Michelle Naidoo – FSB Juristic Representatives – Alan Holton – Compliance Monitoring Systems CC […]
FSB Workshops in July and August
There are 4 workshops in July, three of which are held at the FSB offices in Pretoria. The only telematic broadcast in July takes place tomorrow (9th of July). The target audience is […]
Information Letter 3 of 2013 on Binders Regulations
This document from the FSB provides: Guidance on activities that constitute binder functions, Guidance on activities that are incidental to binder functions. Remuneration payable as a binder fee. Some important points: Inclusion of […]
New Appointments at FSB
The Minister of Finance approved the following appointments, as recommended by the FSB: Ms Caroline da Silva as Deputy Executive Officer for Financial Advisory and Intermediaries Services, replacing Mr Gerry Anderson, Deputy Executive […]
Retirement Reform Update
The Minister of Finance met the CEOs of service providers in the retirement fund industry on Thursday, 20 June 2013 to discuss the 2012 and 2013 Budget Retirement Reform proposals. The primary objective […]
Fee for Commission Survey
A recent survey by CoreData research tested the current state of readiness and awareness of advisors concerning the proposed replacement of commission with a fee structure. The data in this study was gathered […]
PI Cover Increase
We recently reported on an experience of a FSP who found that his PI cover premium had nearly doubled at renewal. We speculated that this may be the result of an expected rise […]
