Qualifications re-visited
Board Notice 135 of 2012 contains the latest information pertaining to approved qualifications. There are two bits of good news: It is printed in landscape format, so older readers like myself will not […]
Industry News
DOFA Demystified
Newcomers to our industry is often baffled by the seemingly endless array of abbreviations. DOFA is not a person who is not very bright, nor is it an airport in the Middle East. […]
Is the Ombud System Fair?
The jurisdiction of the FAIS Ombud has been questioned on a number of occasions, notably in the current High Court case between the Ombud and Deeb Risk, and yet again in a later […]
FSB Communications
On 29 August, the FSB broadcast a workshop aimed specifically at independent financial advisors. The title of the presentation is: “What’s new, and what to be aware of”. The Agenda covered the following […]
FSB Levy Deadline
The annual levies payable to the Regulator is calculated on your position as at 31 August 2012. This is for the period 1 April 2012 to 31 March 2013. Should your information have […]
Disclosure of Costs
A recent finding by the FAIS Ombud will probably cause product providers to rethink how they disclose costs, including commission, in quotation packages. The General Code of conduct stipulates that a provider “…must, […]
Service Standards for Complaints Resolution
We regularly hear from readers about poor handling of complaints by product providers. The major problem from an advisor’s perspective is that a lack of response from the product house reflects badly on […]
Another Investment Scheme under Provisional Curatorship
The total assets under management of the Rockland Targeted Development Investment Fund was placed under provisional curatorship on Tuesday after an ex parte application by the FSB. Bert Chanetsa of the FSB said […]
FSB Broadcast on CPD
Continuous professional development has become the new buzz word as far as the regulatory exams are concerned. This was also the theme of the latest television broadcast by the FSB. It contains a […]
“Offs” and “Ons” Update
We kept a record of the number of FSP “offs” and “ons” as recorded in press releases by the FSB since 18 February last year. The figures are as follows: […]
FAIS and the CPA
The Consumer Protection Act is a landmark piece of legislation, aimed at protecting consumers from dubious business practices. The FAIS Act aims to regulate financial advice and intermediary services, with the stated intent […]
Another Sharemax ruling by FAIS Ombud
Legalbrief reports as follows: Another financial adviser has been ordered by the FAIS Ombudsman to repay a retired couple who invested their pension money in The Villa syndication of Sharemax, says a Sake24 […]
FSB Communications
On Wednesday, 22 August, the FSB broadcasts a workshop on how Continuous Professional Development works. The target market for which it is intended is indicated as: Key Individuals, sole proprietors, compliance officers and […]
Read the fine print
One would hope that, being in the industry, that we all have PI cover and that we know exactly what we are covered for. (In case you do not have PI cover, you […]
FSB Responds to Allegations
Last week we reported on media articles relating to the FSB’s involvement in the prevention of dubious investment schemes. The Regulator saw fit to publish a media release explaining its position in terms […]
Schedule of FSB Communications
Please see below the schedule of planned presentations by the FSB for the rest of 2012. Copies of the satellite broadcasts are availablefrom us. Those that are not televised, requires you to register […]
Job Losses in the industry
As the final date for completion of the regulatory exams draw near, we experience an increase in calls from candidates, anxious about what will happen if they do not make it. Let me […]
