Time Barring on FAIS Ombud Complaints
A recent appeal tested whether the FAIS Ombud was correct in finding that the appellant’s complaint was time-barred in terms of section 27 of the FAIS Act. The appellant lodged a complaint, claiming […]
Industry News
Moonstone Training Extended
We are proud to introduce a major new player in the financial services training field. After the acquisition of PSG Academy earlier this year, Moonstone merged its existing training offering, Moonstone Intellectual Capital, […]
Health Insurance Policies and Medical Schemes
News of the imminent release of low cover medical schemes could well return the focus to the unnecessary intervention in something that works very well. Background The First Draft Demarcation Regulations, released in […]
Structured products still offer offshore opportunities even with a weak rand
Investing abroad can be complex for South Africans. Though exchange controls were relaxed over the past few years, for the most part investing overseas requires investors to have deep pockets and a crystal […]
Prescribed Medical Benefits – 'In accordance with' replaces 'paid in full' – Patricia Holburn
Since the introduction of Prescribed Medical Benefits (PMBs) in 2004, definitions, inclusions, cost and reviews, have raised concerns. PMBs were well intentioned – make sure members have cover for emergencies and big events. […]
Remuneration on Tax-free Savings – Patrick Cairns
The introduction of tax-free savings accounts on 1 March this year was a positive step from National Treasury. Effectively the government has put its money where its mouth is with regards to encouraging […]
ASSA Feedback on RDR Proposals
MoneyMarketing recently reported that 50 members of the Actuarial Society of South Africa (ASSA) agreed to assist the FSB with the assessment of the feedback received on the proposals contained in the Retail […]
FSB Feedback on Debarment of Representatives II
In the previous article we discussed the importance of following due process in deciding whether a representative should be debarred. Here we share the views of Advocate Matome Thulare, Head of the Enforcement […]
FSB Feedback on Debarment of Representatives Part I
“To debar or not to debar”, that is the title of a very informative article written by Advocate Matome Thulare, Head of Enforcement at the FSB. In view of the interest articles on […]
Australia Life Risk Business Commission Agreement
After much debate, consensus was finally reached on how advisers on life risk business in Australia will be remunerated in future. The ifa online newsletter states: The agreed policy will consist of a […]
Do not Underestimate PAIA
A recent High Court judgment warns that ignoring the prescriptions of the Promotion of Access to Information Act can have serious implications for those who take it lightly. Walkers Incorporated of Cape Town […]
South Africa's CIS industry earns a C – Patrick Cairns
Earlier this month Morningstar released its 2015 Global Fund Investor Experience report. The study rates the collective investment scheme (CIS) industries in 25 countries based on how customer friendly they are. Morningstar gave […]
IFA Investment Survey
A study, conducted amongst independent financial advisers by Insight Discovery, could not have come at a better time, given the current review of retail distribution in South Africa. One of the areas currently […]
RDR Expectations from the FSB
RDR Implications This is the final article based on a presentation on the Retail Distribution Review by the FSB at the Discovery Financial Planning Summit on 19 May 2015. Implications for financial advisers We will […]
Debarment ends up in Appeal Court
The intricacies and confusion around the debarment process were yet again highlighted in a recent case in the Appeal Court. Background A representative of a major life office resigned on 31 May 2012 and took […]
RDR Feedback on Remuneration
At the Discovery Financial Planning Summit, held on 19 May 2015, Mr Jonathan Dixon of the FSB discussed feedback received from the industry on remuneration proposals in the Retail Distribution Review. Investment product remuneration While […]
RDR Feedback from the FSB
At the Discovery Financial Planning Summit, held on 19 May 2015, Mr Jonathan Dixon of the FSB shared his views on some of the feedback received from the industry on the Retail Distribution Review proposals. […]
