Power of Attorney and Mental Incapacity
What happens to a power of attorney when the principal’s mental capacity starts to diminish and he/she loses the capacity to act? This is not only important for your clients – many of […]
Industry News
Crime and Punishment
This article, by Paul Resnik, was published in the April edition of the FinaMetrica newsletter. UK regulator fine for unsuitable advice It seems to be inevitable that the past behaviour of banks raises […]
Client Care – how are we really doing?
Two conflicting headlines in recent industry newsletters raise the question whether clients are treated fairly by the industry. “Complaints to (Long-term) ombudsman reach record number.” “South African consumers are very satisfied with the […]
Fraud knows no Boundaries
Consumers at the lower end of the market are often more vulnerable when it comes to being defrauded. The latest Ombud determination provides details of how the Reformed Christians for Truth Church became […]
Q & A on Cambist
We regularly receive enquiries from readers about Cambist, who offers a return of 19.5% on investments. For all practical purposes, it appears that they act as an aggregator between the public and certain […]
Retail Distribution Review Update
Plans to review the way in which products are distributed, and specifically the way in which advisors are remunerated, took centre stage in the media recently. RDR is not only about replacing commission […]
Does the Penalty fit the “Crime”?
That which was termed “excessive” fines by the local regulatory authorities pale into insignificance when compared with what happened in the UK last week. The Financial Conduct Authority (FCA) imposed a financial penalty […]
CPD back in a Big Way
It is evident that the focus on continuous professional development is increasing. As noted in the article above, the FSB envisages publishing proposed new CPD requirements by the end of the year. The […]
FSB Clarifies Outcomes-Based TCF
Ms Leanne Jackson, Head of Treating Customers Fairly at the Financial Services Board recently responded to a Moonstone article published on the Insurance Gateway website: An article headlined “Not quite Treating Customers Fairly?” […]
Treasury Proposals to Promote Savings
A media release on Friday sheds more light on these planned initiatives by the government to supplement the current interest income exemption with tax free savings accounts: This paper lays the basis for […]
Asisa Feedback on Budget Speech Comment
From the February 2014 edition of the Asisa’s Dispatches: A number of members and stakeholders have asked us to provide context to the announcement by Finance Minister Pravin Gordhan as part of his […]
Withholding of Pension Withdrawal Benefits
A recent determination by the Pension Funds Adjudicator concerns an employer’s decision to instruct the administrator of the pension fund to withhold the complainant’s withdrawal benefits after terminating his service. In their response […]
Not quite TCF?
The fair treatment of clients by certain product providers was recently questioned by Bruce Cameron in an article on causal event charges. A key part of ensuring proper market conduct is a new […]
Retirement funding gets a boost
The Taxation Laws Amendment Act No. 31 of 2013, published in Government Gazette No. 37158 on 12 December 2013, contains very important changes to the tax treatment of contributions to retirement funding. Hettie […]
Is Healthcare Remuneration Above Board?
We recently queried the discrepancy in commission payable to healthcare brokers and what their counterparts in the short-term industry earn for essentially providing the same service. In response to an enquiry from a […]
Hedge Fund Regulation a Step Closer
The National Treasury and the Financial Services Board (FSB) published a Joint media statement outlining their preliminary response to stakeholder comments on proposals released in September 2012 for regulating hedge funds. Annexure A, […]
Old Mutual Representatives Granted Exemption
Board Notice 273 of 2013, published in December last year, provides details of an exemption granted to certain Old Mutual representatives in respect of the experience and qualification criteria applicable to: Collective investment […]
