Remuneration Review Part II
This is the balance of the article, the first part of which was published in the Moonstone Investment Indicators last Monday. It appears in the March edition of the ASISA publication “In the […]
Industry News
FSB Clarifies Press Release
In a media statement, issued on Thursday, 11 April 2013, the FSB advised that Zargogen, trading as Sharepartner, The Shareholder Partnership, TSP, was not a licenced FSP and investors were cautioned not to […]
FSB doen Stappe na Outsurance Uitspraak
Kort na die hofuitspraak waarin daar in Outsurance se guns bevind is ten opsigte van ‘n eis wat hulle verwerp het, het die Reguleerder ingetree om ‘n herhaling te voorkom van wat blyk […]
Intermediary Remuneration Review Part I:
We shared information on this topic before. The March edition of the ASISA newsletter, “In the Loop”, contains new insights which we believe assists better understanding of this very important topic. We quote […]
Section 14A Debarments
The ASISA publication contains a wealth of useful information: ASISA Members reported that section 14A debarments continue to be a very long process. Employers are at risk when appointing or dealing with persons […]
Transfer Frustrations – Section 14
An irate client, who also happens to be an experienced financial advisor, copied me in on a letter to a product provider. It expresses the feelings of so many others who have shared […]
Investors take on Product House
An interesting court case is due on 6 May, when investors in an imploded investment scheme take on one of the major life offices. According to a Business Day report, the main complaint […]
FSB’s Enforcement Committee
The Registrar of Financial Services Providers (Registrar) referred a matter against EQ.FIN (Pty) Limited (EQ.FIN) to the Enforcement Committee of the Financial Services Board. The referral relates to a contravention of regulation 3(b) […]
Disability a Rich Source of Future Business
An independent survey conducted by True South Actuaries & Consultants, and commissioned by FMI Income Protection Specialists in March 2013, revealed that the South African disability insurance gap currently stands at R11.1 trillion. […]
Does Financial Advice add Value?
Andy Capp was one of my favourite cartoon characters. One day, as they are strolling home, Andy appears to be particularly dejected. When Florrie asks him what is wrong, he responds that he […]
Sharemax Direkteure doen aansoek om Appél
Die Siegrist uitspraak van die FAIS Ombud gaan betwis word. In hierdie opspraakwekkende beslissing is 4 direkteure van Sharemax Beleggings aanspreeklik gehou vir die verliese wat beleggers gelei het in die Villa en […]
Churning out Commission
In a number of determinations over the past few years, the FAIS Ombud ruled against FSPs who did not follow the laid down procedures, prescribed in the FAIS Act, when replacing existing business. […]
FSB Overview of Remuneration and Intermediary Services
Last week we discussed what we believe to be an ”over-focus” on commission in better safeguarding investors in the financial services industry. This week we look at feedback from the FSB on input […]
Training Related News
Approved Qualifications: Robyn Shapiro from Investec wanted to know if the list of approved qualifications was updated since the publication of Board Notice 135 on 15 August last year. It appears that this […]
The Risk of Giving Financial Advice
In view of the heated response to Monday’s article on the focus on commission, I was a little concerned about placing yet another contentious issue on the table. Some of our readers are […]
Retirement Reform Proposals in a Nutshell
If you have not yet come across the words “P-day” and “T-day”, rest assured that you will soon. The draft proposals circulated and discussed by the national treasury (NT) last year, were published […]
Why Single out Commission?
In my view, there appears to be an over-elaborate emphasis on the impact of commission in the provision of financial advice. We recently saw extensive rules and regulations published to bring law and […]
