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Professional Indemnity: Check the Fine Print

An article in Sunday’s Rapport (15/7/2012) discusses the upcoming High Court case where a broker is disputing the jurisdiction of the FAIS Ombud. What is of particular interest to our readers, is the discussion of PI cover exclusions. In essence, the FAIS Ombud ruled that the broker, Deeb Risk, contravened the FAIS Act when he […]

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Dummies guide to what went wrong in Europe

Helga is the proprietor of a bar. She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar. To solve this problem she comes up with a new marketing plan that allows her customers to drink now, but pay later. Helga keeps track of […]

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Save the Rhino

Creating awareness helps fight an atrocity which has taken on crisis proportions. Dr. William Fowlds, a wildlife veterinarian, tells the story of Geza, a white rhino, that was callously mutilated by poachers and left alive with his horns and part of his face hacked off with pangas. The e-story contains graphic pictures which is bound […]

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RE Status Certification

Last week, we discussed the need for proof of your regulatory exam status. Let’s follow the instructions from “The sound of music” and start at the very beginning. As soon as your paper has been marked, the result is sent to the FSB for verification. On receipt of confirmation from the regulator, our system automatically […]

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Rules is Rules

One unforeseen outcome of the extensive Super 15 series is the long list of fallen comrades. If one bears in mind that the competition has been running for nearly 5 months, with a three-test series between fixtures, it is no surprise that all the teams have been decimated by injuries, some more so than others. […]

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The Higgs Boson is “not a particle of faith.”

A Higgs boson walks into a church. “We don’t allow Higgs bosons in here!” shouts the priest. “But without me, how can you have mass?” asks the particle The Higgs boson walks into a bar. Bartender says, “What’s the matter?” “Exactly.” A British comedian took a Higgsian dig at financier Diamond, who quit the helm […]

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Continuous Professional Development Update

“What’s the buzz? Tell me what’s a-happening” These lines from the musical J.C. Superstar may equally apply to the daily queries we receive about continuous professional development (CPD). We published a series of three articles in May that summarised the details outlined in a document on the FSB website calling for input on CPD proposals. […]

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Applications for Exemption

The publication of Board Notice 116 of 2012 contains details of exemptions granted to 16 FSPs from having to write the Level 1 REs by 30 June 2012. The periods of grace allowed range from 31 July 2012 to 31 December 2013, with other dates in between. We have no idea on what grounds these […]

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Removing Reps from the Register: a Better Option?

A lot has been said about what should be done where representatives did not write the obligatory Level 1 regulatory examination by 30 June, and are therefore no longer fit and proper to conduct business. The word “Debarment” crops up everywhere, but is it the only, or best, option? Debarment is usually a harsher measure, […]

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Super 15

The log this past weekend reminded me of the balls being juggled for the lottery draw. Up and down, sideways, then up, then down. This year’s competition is really a very good one, given the number of teams vying for a place in the final six, right up to the last weekend. These loose thoughts […]

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