FSB Appeal Board Clarifies Factual Causation
The recent Appeal Board Determination in the matter of J&G Financial Service Assurance Brokers (Pty) Ltd and R L Prigge is an important Determination for a number of reasons. Mention has already been […]
Industry News
FAIS clearly unclear about intermediary services
The Free market Foundation recently published an article on a matter which has certainly been a major bugbear since the introduction of the FAIS Act. When does a person have to register for […]
FSP Levies for 2017 announced
FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we […]
FSB fines Smart Life R150 000
The Registrar of Long-term Insurance (the Registrar) referred a case against The Smart Life Insurance Company Limited (Smart Life) to the Enforcement Committee of the Financial Services Board. During the period 15 April 2013 until […]
CMS to address Undesirable Practices
The Council for Medical Schemes published Circular 39 of 2017, calling for industry input on its intention to declare certain practices irregular or undesirable. Regulation 8 of the Medical Schemes Act entitles medical schemes […]
R E and Qualifications Fraud
In a holding statement published on Thursday, 15 June, the Financial Planning Institute (FPI) responded as follows to a media release by the FSB: Falsification of Regulatory Examination Results and Issuance of Fraudulent Certificates […]
Reporting to the FSC Council
The Financial Sector Charter Council recently approached a number of people in the industry requesting that they register and submit their 2016 B-BBEE report. One reader actually submitted the form, together with his […]
FIA Annual Award Winners
We would like to add our congratulations to the following providers who were voted tops in terms of product, relationship and service to the country’s financial advisors and insurance brokers. Short Term Insurer […]
Old Mutual Hacked
Last week was not a good one for the 172-year old Assurer. News of a rather embarrassing Ombud determination was followed by the news that unauthorised access was gained to some of its […]
AON Opts for Suitebox
Global professional services firm Aon collaborated with global software provider SuiteBox to roll out its digital workspace technology to its Australian adviser network, to streamline their advice process and provide improved client experience. […]
Minister on Financial Sector Transformation
In his speech on Tuesday in parliament on the National Treasury Budget Vote for 2017/18, Finance Minister Malusi Gigaba highlighted the following: The Joint Standing Committees on Finance and Trade and Industry have […]
Banking’s role in inclusive growth
WEF Africa 2017 has officially drawn to a close and over the past 3 days it has been very encouraging to see how many global stakeholders in Africa have a genuine interest in […]
Financial Intermediaries Association Awards
The 19th annual FIA Awards reflect the views of intermediaries in terms of how they were treated by product providers under the headings product quality, service quality, relationship quality and overall satisfaction. The […]
Public-private partnerships can contribute
How public-private partnerships in the savings industry can contribute to inclusive growth Against the backdrop of the NDP vision and consequent critical actions, the SA economy has enormous unmet infrastructure demands and a […]
What keeps the LT Ombudsman awake at night? Part 1
From the Long-term Ombud’s 2016 annual report: The Assessors and Adjudicators in the Long-term Ombud’s office were canvassed about the issues that currently fall into this category. The following are some of the […]
Regulator to probe insider trading allegations
The FSB confirmed that it is investigating unusual trading in foreign exchange futures contracts after receiving a report from the Johannesburg Stock Exchange (JSE). The Regulator’s Department for Market Abuse (DMA) is currently […]
