Business Day recently quoted Professor Alex van den Heever, chairperson of Social Security at Wits University as saying that the National Treasury’s latest proposals are “…poorly drafted and threaten to send the medical […]
A press release by the FSB, following a media briefing on Thursday, discusses the events surrounding the unexpected resignation of Mr Dines Chandra Manilal Gihwala as a curator of the financial services business […]
On Monday, we briefly outlined the background to the first complaint against an advisor who invested client funds in Herman Pretorius’s Relative Value Arbitrage Fund. In his response to the complaint, the advisor […]
I was recently approached by an ex key individual who was debarred by the FSB in response to information supplied by the bank who previously employed him. The reason for the debarment was […]
The FSB will take on added responsibilities once “Twin Peaks” is enacted, including regulating the banking industry. It is therefore interesting to note what happened in the UK since 1 April 2013, when the Financial […]
The practice of incentivising independent financial advisors (IFAs) to shift their investment and risk books is possibly the single biggest driver of churning, and is likely to be addressed as part of the […]
Certain FSPs received a request from the FSB for additional information regarding their financial statements which, for most FSPs, are due by the end of this month. Category I FSPs who are registered […]
A recent article in Moneyweb states that the validity of more than 85% of trusts on which legal audits have been conducted, can be questioned. Prof Willie van der Westhuizen, head of trust […]
The Short-term Ombudsman’s 2013 annual report contains an interesting perspective on regulation of the various Ombud schemes. The Financial Sector Regulation Bill originally proposed a so-called single Ombudsman’s structure. This envisaged that all […]
A panel, headed by retired Chief Justice Sandile Ngcobo, started a market inquiry in January this year to investigate concerns about private healthcare. A Business Day Live report states that the reason for […]
In May 2014, the Department of Education and Training published a list of the top 100 scarce skills, based on specific criteria. The document is sub-titled: Call for Comments on the National Scarce […]
Legalbrief Today reported on a statement by Discovery Health’s CEO, Dr Jonathan Broomberg, that fraud in the medical schemes industry is estimated to cost SA between R8.22bn and R43.2bn. One of the latest […]
It has long been my contention that, unlike the socks I buy at Woollies, there are few products which can satisfy clients’ needs with a “one-size-fits-all” approach, particularly in the financial services industry. […]
Improved customer service and fair advisor remuneration will be key features of the new financial services landscape. Jonathan Dixon, Deputy Executive Officer of the Financial Services Board’s Insurance Division, made some interesting comments […]
The Minister of Health has determined that the current capped maximum fee of R69 plus VAT will increase to R71,07 plus VAT with effect from 1 February 2014. This increase of 3% should […]
The proposals by National Treasury to find a solution to what it regards as a threat to medical schemes did not find favour with all in the industry. An article in the Financial […]
National Treasury (“NT”) released the Second Draft Demarcation Regulations for further public comment at the end of April. These Regulations specify which types of health insurance policies are permissible under the Long-term Insurance […]
