Cash Management System Accounts
These accounts, according to the circular, are predominantly provided by Investec and Nedbank. The CMS Account is similar to a trust account maintained by professionals for the purpose of holding money on behalf […]
Industry News
Sauce for the Goose…
The issue of inducements to effect insurance, which we discussed in Monday’s newsletter, is fast becoming a very hot topic, and it does not only relate to short-term products. One of our regular […]
Who enforces Penalties?
The content of an article in Moneyweb entitled Rogue broker ignores FAIS Ombud was covered in this newsletter in June. Frank McCarter and his wife are one of many investors who received bad […]
Enforcement Committee Penalties
In the last two weeks we saw a spate of media releases on Administrative Penalties meted out by the Enforcement Committee of the Financial Services Board. It is difficult to determine the basis […]
Inseta Vouchers Now Available
As reported recently, the Insurance sector SETA are making 1 000 vouchers available to candidates who want to acquire a recognised “full qualification”. This offer is open to all small enterprises, employing up […]
FNB Instructed to Cough Up
Four years ago, former FNB financial adviser, Clynton Cotton, pleaded guilty to stealing R12 million from his clients. One of them, Carmen Goodman, finally won her court battle with the bank. FNB was […]
FSB Exempt from Liability?
Under the proposed Financial Services Laws General Amendment Bill, the Financial Services board will be protected from legal liability for their bona fide actions, even if these are negligent. According to a report […]
Dwindling Sole Prop Numbers and Rent a KI
Last week, we commented on the fact that there are only 2 492 sole proprietors in the industry, based on the latest FSB statistics. One reader, speaking from personal experience, wrote as follows: […]
It Makes CENCE to get involved
I am quite proud to share with you a report received from CENCE, our Social Investment initiative. The name CENCE is the acronym for “Consumer Education through National Collaborative Enablement”. Cence, in partnership […]
Outsurance Ad Update
The original article published by RiskSA regarding a misleading advertisement elicited a response from OUTsurance. The original article reported on a finding by the Code of Complaints Committee of SAIA that a particular […]
Inseta Vouchers Available
Inseta has 1 000 vouchers available to those looking for financial support in obtaining a full qualification. This applies equally to those already studying towards a recognised qualification, and those wanting to start […]
Did Direct Insurer Transgress?
An on-line article concerning an advert of a direct insurer which transgressed the Code of Conduct of a professional body, was removed this morning. We also prepared an article on this, but decided […]
Guaranteed annuities, Ugly Ducklings?
This article was published in IG eZine October 2012. In view of the current debate on changes to retirement provision, it is essential reading to provide a more balanced perspective on the choice […]
Vereistes vir Voldoeningsbeamptes
Veranderde vereistes vir voldoeningsbeamptes (VBs) het nogal heelwat kopkrap veroorsaak vir die bedryf. Die inligting hieronder, wat Moonstone Compliance verwerk het uit Raadskennisgewing 127 van 2010, sal lesers help om meer duidelikheid te […]
Sustainable income in retirement
By Pieter Koekemoer, Head of Personal Investments, Coronation One of the toughest financial planning tradeoffs, is ensuring that retirees’ post-retirement income is sustainable over the full period of retirement, without compromising more than […]
Human Capital Development Forum Established
A number of industry associations joined forces to form the Short Term Insurance Human Capital Development Steering Committee. The purpose is to oversee and drive the professional standards of the South African short-term […]
Binder Workshop Positive Feedback
We received many positive comments after the first of five workshops: I have been to a few Binder Regulation workshops and can honestly say that this has been the most insightful and best […]
