Perennial Problem Pops up Again
It is that time of year again when you can expect a request from product providers to sign a Personal Services Company Affidavit. This request continues to irk advisors, yet there is nothing […]
Industry News
We are Stardust
(I attached links to the songs mentioned in the article to help set the mood while you read) Woodstock was a “happening”, to use a buzz word of those times. In the words […]
FSB On-Site Visits
On Monday we discussed the functions of the FSB’s FAIS Compliance Department in an article by the same name. We indicated where they get information which leads to further action, including on-site visits […]
Binder Agreement Workshops
If the current state of bookings is an indication of what will happen in the Currie Cup, the Lions are going to retain their title hands down. The first session in Johannesburg was […]
Rent a Licence
The latest determination by the Ombud again concerns an investment in Sharemax. The Ombud ordered the respondent to buy back the shares at the price it was sold to the complainant. An interesting […]
Binder Agreement Workshop – Content Positioning
The following is a brief summary of what the workshops will entail. Binder Agreements: What are the practical ramifications for my practice? The publication of the new Binder Regulations on 23 December 2011, […]
Insurance: Advisors vs Clients
This article, first published in the Van der Spuy and Partners newsletter, provides an objective, legal perspective on the obligations of the two parties involved in an insurance contract. Your newly gained knowledge […]
Brass Tacks Workshops
These three-hour workshops cover the following topics: Binder Agreements: what are the practical ramifications for my practice? The Outsourcing Directive: are your administration fees legal? Market practices relating to payment of fees: what […]
The War of the RA Roses
The Professional Provident Society (PPS) announced in a media release last week that, from 1 October, the PPS RA (underwritten by Sanlam) will be closed for new business, as well as for new […]
Premier Life licence withdrawn
The Registrar of Financial Services Providers withdrew the licence of Premier Life (Pty) Ltd (‘Premier’) to act as a financial services provider. The withdrawal prohibits the company from conducting business as a FSP […]
No Nonsense Workshops
We plan to run the first of our “Brass Tacks” workshops in October. Feedback from readers indicate that they are swamped with invitations to workshops and training sessions. The aim of some of […]
FAIS Ombud Determinations Toothless?
Enforcement of the FAIS Ombud’s determinations appears to be a problem, particularly from a consumer perspective. What recourse do consumers have when those ordered to make good, elect to ignore the instruction? An […]
Jongste RFD Lisensie Statistieke
Gedurende die tydperk van 23 Julie tot 19 Augustus 2012 is die magtiging van 240 Finansiële Diensverskaffers (FDV) opgeskort. Die redes was: nie-betaling van heffings en die nie-indiening van voldoeningsverslae en/of finansiële state. […]
Applying the Principle of Fairness
When you hear Liverpool fans sing “You’ll never walk alone”, rest assured that you can join in when it comes to applying the principle of fairness in the financial services industry. The judgment […]
FSB Broadcast: On-site Visit Feedback
Most of us would rather learn from the mistakes of others, than from our own. If you share this view, and would like to find out where they went wrong, please click here […]
FSB & JSE are world class
Financial Services Board (FSB) and Johannesburg Stock Exchange (JSE) are world class regulators The recently published Global Competitiveness Survey of the World Economic Forum (WEF) holds many reasons for South Africa to be […]
Treating Customers Fairly
For most of us, TCF is something hovering vaguely somewhere in the ether. With a bit of luck, and if we ignore it long enough, it will go away. Sorry to burst your […]
