The most recent Ombud determination concerns a complaint against First National Bank by a businessman, Craig Keshwar, who placed funds for investment with a bank manager, De Ghee, employed by FNB. The misappropriated […]
A notice, published in the Government Gazette on 20 November 2013, formalised the increased fees payable to the FSB in respect of certain functions. Before we compare the new fees to the old, […]
Further to the recent increase in the maximum amount announced by the Minister of Finance, an information letter was published to provide guidance on the correct interpretation of the information. The change stems […]
Background Up to the end of the previous century, regulation of financial services was by and large left in the hands of the industry itself. The advent of consumerism and money laundering, amongst […]
In a previous article we reflected on the need for more publicity regarding the positive contribution of the financial services sector. The following information, published by ASISA, should be reassuring to both the […]
An increase was announced with regards to the maximum value of the policy benefits to be provided in terms of an assistance policy (Financial product subcategory 1.1). As from 11 November 2013, the […]
South Africa is very much part of the global financial world, and also one of more than 200 members of the International Association of Insurance Supervisors (IAIS). The mission of the International Association […]
In a directive published last week, the Financial Intelligence Centre (the FIC) requested all institutions registered with it to update their details on the FIC’s electronic platform. In order to verify that your […]
“The Financial Services Board (FSB) commented on a circular dated 6 August 2013, issued by Frontier Asset Management to debenture holders and shareholders who have acquired their rights in terms of Schemes of […]
Blue The FSB telematics broadcast on 28 August 2013 was intended for independent financial advisors and covered a wide range of topics, including one simply titled: FAIS Ombud Determinations. The introduction states that […]
The following posting, by a member of the public, was recently placed on our website in response to an article we published a few months ago: What a pity I didn’t see this […]
We recently approached the FSB for clarity on how, and by whom, the quantum of an Enforcement Committee penalty is determined, and what options respondents, who elect not to enter into a settlement […]
The Pension Fund Adjudicator published her annual report last week. It contains some very positive indicators, as well as concerns for the industry, and the public. In the message from the Minister of […]
Problems that were experienced in accessing information on the Regulator’s website appear to have been addressed in the new version. The old one was essentially user-friendly to Internet Explorer users only. The website […]
An article entitled Regulation not crippling sector, FSB contends by Gillian Jones in Business Day provides two differing perspectives on this issue. On the one hand, there is the view of Johan van […]
The Financial Intelligence Centre (FIC) told Parliament that the number of suspicious financial transactions in SA in 2012-13 skyrocketed by 176% compared to the previous financial year, notes a Business Day report. FIC […]
The impact of regulation on the number of people in the industry remains a major source of interest for many people. It could stem from a need to know that there is safety […]
