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FSB Circular 10 on REs

There will no doubt be some very clever calculations done, based on the statistics contained in this circular. It never ceases to amaze me how some people can spend hours dissecting these figures for no apparent reason, other than to find something to gripe about. All I want to say about the figures is that […]

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How Ritchie McCaw let his team down.

Ritchie McCaw goes into the All Black changing room to find all his team mates looking a bit down. “What’s up guys?” he asks. “Well Ritchie, to be honest we’re having all sorts of trouble getting motivated for this game against Australia . We know it’s important but we’ve just beaten Argentina and South Africa […]

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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 of Paul Simon, the hippy era was: “A time of innocence, a time of confidences”. The artists were wild and woolly, yet […]

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Compliance Consultation Service

When one suspects a serious ailment, or is diagnosed with one, it is common practice to obtain a second opinion. The same approach should apply in the financial services industry. It is extremely risky to rely on one’s own interpretation of the relatively new, and hence untested, regulatory legislation. The same applies to one’s compliance […]

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All Blacks Victory March Stopped

Hats off to the Aussies for a very gutsy performance against the All Blacks. Hopefully Higginbotham will have his bottom severely kicked for kneeing and head butting McCaw. Loved this snippet in the Sydney Morning Herald, quoting Nathan Sharpe: When asked what was going through his mind as Carter struck a potentially match-winning kick, Sharpe […]

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Can the Wallabies do it?

Not one article on this subject gives the Aussies any chance of stopping the victorious All Blacks, on their relentless march to a new record winning streak. It is fearsome, that one side can dominate a game to this extent. At the risk of sounding dramatic, it almost reminds me of the history of Germany […]

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The last wishes of Alexander the Great:

On his death bed, Alexander summoned his generals and told them his three ultimate wishes: 1. The best doctors should carry his coffin; 2. The wealth he has accumulated (money, gold, precious stones…) should be scattered along the procession to the cemetery, and 3. His hands should be let loose, hanging outside the coffin for […]

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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 to FSPs. Today we expand on this for those who still await their first inspection. There is a strict protocol to be […]

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FSB/Inseta Rewrite Workshops

I found the following information on the Inseta website: The FSB announced a further extension to the deadline for the Level 1 Regulatory Exams for those candidates who wrote before 30 June 2012, but did not pass. The deadline for passing the exams is now 31 March 2013. Please note that this extension applies only […]

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Did the Crime fit the punishment?

Further to last week’s article Bark without Bite?, we expand on the closing sentence which read: “ We are not propagating stricter censure for transgressors, but merely asking that a uniform standard be applied, whatever the size of the FSP.” We received the following media release from the FSB on Friday: The Registrar of Financial […]

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