The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released last week by the Association for Savings and Investment South Africa (ASISA), show that life insurers received 27 547 claims […]
Failure to complete the compulsory Regulatory Exams by the due date means that you are no longer fit and proper. Your employer has no option but to terminate your employment, either by removing […]
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
As a result of the impact of COVID-19 on the financial services industry, several relaxations to regulatory and filing deadlines considering the challenges that regulated entities may face in these trying times, were […]
In the wake of the pandemic lockdown, many short-term policyholders find themselves in a financial predicament and unable to pay their insurance premiums. The latest Short-term Ombudsman (OSTI) Briefcase discusses various options available […]
The findings of the TransUnion Industry Insights Report, which looks at the South African credit market across three dimensions among credit products, originations, balances and delinquencies, confirm that consumers are having to prioritise […]
The importance of policy wording was underlined again in the UK’s comprehensive High Court analysis of 21 samples in coverage extensions for business-interruption COVID-19 related losses recently. At times the hearing sounded more a […]
When I started researching the background for this article, the words of Bruce Springsteen’s “The ghost of Tom Joad” came to mind: Well, the highway is alive tonight But nobody’s kiddin’ nobody about […]
Two recent tribunal cases make for quite interesting reading. No dishonest intent In the Mokotedi decision, the employer, a major bank, debarred a financial adviser on the grounds that he lacked the required […]
The COVID-19 pandemic and the subsequent market volatility has spotlighted the need for financial resilience among investors. “To be a successful investor, you need to understand what you are getting yourself into upfront, […]
South African taxpayers with different sources of income are often shocked when they discover at the end of the tax year that pay-as-you-earn (PAYE) deductions did not cover their tax liabilities and that […]
Technology has become the most important communication tool for us all and has transformed the way in which live our daily lives, including the way in which we find, consume and retain information. […]
One of our colleagues, Paull Lawrence, pointed out that yesterday was the 16th birthday of the implementation of the FAIS Act. It also marked the publication of the second draft of the COFI […]
The Council for Medical Schemes (CMS) has just published its quarterly report for the period ended 31 March 2020. Tasked with monitoring the financial performance and soundness of medical schemes, the CMS publishes comparative figures […]
October is the month when most medical schemes announce their updated rates for 2021.Will it be in line with the Council for Medical Schemes’ recommendation? In August 2020, the Council for Medical Schemes […]
The Advertising Regulatory Board (ARB) recently told Old Mutual’s iWize to withdraw or amend its advert and to make it clear that only cars worth less than R1.2m are eligible for an offer […]
