Costs order against FSCA for ‘irregular and unlawful’ debarment

The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.

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Illegal Incentives

Despite regular reminders, payments to advisers outside of what is legally permissible continue to make the news. This topic was covered in some detail in FAIS Newsletter 23, published in March 2017. Although the article […]

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SAIA on Ratings Downgrades

In reaction to recent downgrades by rating agencies, the South African Insurance Association, the representative body for the short-term insurance industry expressed its grave concern about the immediate and long-term negative implications for […]

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The Digital Revolution in Insurance

The future is not out there, somewhere in the, um, future. It is here. A recent posting by Forbes of a blog by Bain Insights contains the following examples of where we are […]

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Potential June UK Exam Date

30 June 2017 is the so called DOFA date for candidates who are obliged to write and pass the Regulatory Examinations (REs) within the prescribed period. A candidate’s date of first appointment (DOFA) refers to […]

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Advanced Medical Scheme Broker Training

The Council for Medical Schemes (CMS) will be hosting a one day consultative “Advanced Broker Training workshop for accredited healthcare brokers. This initiative is in response to a request by healthcare brokers who […]

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Yay or Nay to Demarcation Regulations?

The demarcation between health insurance and medical schemes has a long history, going back as far as 2000 after the enactment of the Medical Schemes Act no. 131 of 1998. The basis of the […]

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Miserable Countries

No, this has nothing to places to avoid when travelling around the globe. In fact, it may well be places you wish to go to, given the poor exchange rate because of the […]

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Regulatory Exam Seats Filling up Fast

As the end of June draws near, availability for seats to write the exams before the DOFA deadline are becoming increasingly scarce. It is not only those who have to write before 30 June. […]

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Latest news from FIC

The Financial Intelligence Centre (FIC) has issued a Revised Public Compliance Communication 05B (PCC) which provides clarity to accountable and reporting institutions on their obligations of registration with the FIC. This revised PCC […]

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Net 1 allegedly flaunted FAIS Rules

An amaBhungane report states that the Financial Services Board (FSB) is probing Net 1 over allegations that it abuses social grant beneficiaries and breaks financial laws. Legalbrief Today reports that Net 1, the US-listed parent […]

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Technology and the 50+ Brigade

How often do we look for solutions far and wide, when the answers are right under our noses. This occurred to me again when I read an article in a blog on the […]

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Misrepresentation of Regular Driver Details

The Ombudsman for Short-Term Insurance published an information document for the public on the importance of providing accurate “regular driver” details. The regular driver is the person who drives the vehicle most often […]

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Robo Advice in a nutshell

In South Africa, automation of financial advice is still relatively scarce, but very likely to surge in the next few years. In the USA, it already plays an important role in the investment […]

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Too Few Good Men?

The fate that befell former Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, last Friday confounded most rational thinkers. The terse manner in which Gordhan was first recalled from the investor summit […]

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