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.
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The Financial Planning Institute provides its members with a list of approved training providers. Moonstone Business School of Excellence (MBSE) is one such provider who complies with the FPI’s requirements in terms of […]
FAIS Newsletter 19 contains an article on this subject: During November 2015, the Registrar imposed a fine of R150 000 against a FSP for failure to observe section 2 of the Code. The FSP kept […]
Finance Minister Pravin Gordhan pulled several rabbits out his Budget hat on Wednesday, February 24, when he delivered the first Budget Speech of his current, second term. However, the rabbit one marked ratings […]
An interesting case was published in the December Short-term Ombud’s Briefcase. Mr. J submitted a claim against his insurer for contents stolen from his home during a burglary. The insurer rejected the claim […]
The charging of “broker” or “policy” fees (section 8(5) fees) in the Short-term industry appears to be a common occurrence. The Regulator frowns upon unjustified fees, and it will be addressed under RDR. […]
A Greener South Africa – Why opt for nuclear power when Mother Nature already provides the answer in abundance? The January 2016 edition of Country Life carried an article titled Solar Karoo about Kalkbult, near […]
An apparently hastily scribbled note from National Treasury titled, Proposal on Postponing the Annuitisation Requirement for Provident Funds for Two Years, confirmed industry concerns that the Taxation Laws Amendment Act, which was promulgated […]
The government proposes to amend regulations concerning deductions from social assistance grants by making an affordability assessment a prerequisite to entering into any agreement to provide funeral cover to the beneficiary of a […]
Failure to conduct a proper due diligence procedure is often used by the FAIS Ombud to find against financial advisers. Advisers involved in property syndications and Ponzi schemes, in particular, often felt the […]
In response to media speculation about possible reasons for the delay in the publication of its 2015 Annual Report, the Regulator published the following press release: The Public Finance Management Act (PFMA) requires […]
In a media release by the Association for Savings and Investment South Africa (ASISA) on 10 February 2016, it announced details of a new “meaningful” basis to allow consumers and advisers to compare charges and […]
Those who remember the good old days of Chappies bubblegum might like to chew on these extracts from an interesting document published on the FSB website: There is no legal distinction between the […]
In a determination dated 18 December 2015, the Ombud ordered the Respondents to pay R273 715 to a complainant for “…failure by the financial services provider to update the sum insured under the business […]
The result of Tuesday night’s match, and the way the team played, came as a huge relief to anxious fans who were becoming rather despondent after the euphoria of the success in the […]
Legalbrief Today reported on Thursday on the National Treasury’s response to criticism that certain aspects of the proposed amendments to the Financial Intelligence Centre Act are impractical and too onerous. Quoting from a […]
The financial services industry faces massive changes which need to be managed very carefully to avoid disruptions which it may never recover from. The South African Chamber of Commerce and Industry (SACCI) recently […]
