Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle

The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.

Registrar issues warning

FAIS Circular 20 contains a reminder to FSPs regarding what changes in the FSP need to be conveyed to the Registrar within 15 days. Section 8(10)(a)(ii) of the FAIS Act states: “Where a […]

Qualification deadline at hand

People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]

Keeping Customers Satisfied

This has always been an important component of business, even before Simon & Garfunkel turned the phrase into a hit song. A recent article on customer views of short-term insurers, led me to […]

Boks provide rollercoaster ride

My Saturday was one filled with rugby – The All Black v Wales game was a fantastic affair and up to the 53rd minute a Wales win looked possible. But as only the […]

Fraudulent medical aid claims

A recent article on the Health24 website had me reaching for heart pills I do not have. Discovery Health CEO, Dr Jonathan Broomberg, revealed that his company recovered R400 million on behalf of its […]

Importance of full disclosure at application stage

A recent Appeal Board case underlines the importance of full and frank disclosure during the licence application process. In the original determination, the FSP and its two members, Ms S and Ms C […]

FPI 2016 Award winners announced

The Financial Planning Institute (FPI) of Southern Africa hosted its annual Awards Ceremony Gala Dinner on Monday night, where it recognised leaders in the financial planning profession for their outstanding level of professionalism […]

Credit Provider Registration

The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit […]

Qualification deadline at hand

Recoveries from Retirement Provision Funds

Strict process for companies wishing to recover stolen money from employee pension fund pay outs, cautions GTC. Employers cannot automatically claim money from an employee’s pension or provident fund when employees defraud them, […]

A weekend to forget

Not so long ago, in October 2015 to be specific, there was a very quirky joke going around… Little known fact There is a Playoff for 5th Place at the Rugby World Cup […]

2012 Liquidity Exemption falls away

The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund. […]

2016 FIA Awards

The prestigious 2016 FIA Awards gala dinner took place on Thursday, 2 June 2016, and was attended by over 1 000 industry members. The awards go to the insurance, underwriting and investment brands that provide the […]

Financial Statements

Please remember that, if your financial year ended on 29 February, you are required to submit your annual return to the FSB before the end of June. Every year, hundreds of FSPs neglect to […]

FAIS Ombud Complaints Dismissals

Three recent determinations by the FAIS Ombud varied from what one has become accustomed to over the years. Cornelissen The Cornelissen case, which hinged around a dispute regarding the calculation of costs, concluded […]