Legal Services Provider Fined
The latest Enforcement Committee (EC) ruling is quite an interesting one. There is often a fine line between what constitutes a financial service and what not. Defensive Legal Protection CC, trading as Legal […]
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.
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A child’s voice in parents’ legal battle
It is often said “parents know best” – but when parents become embroiled in litigation against each other and children are involved, it can become very difficult for them to set their own […]
Wicked Cricket, Super Rugby & the 6 Nations
Wicked Cricket It is with a huge sense of relief that I notice that rugby matters are slowly but surely pushing cricket articles for space in the daily newspapers. The final straw that […]
Turn a Deaf Ear
There appears to be two kinds of respondents involved in FAIS Ombud determinations: those who attempt to defend themselves, and those who follow a strategy akin to the Lindesfarne song from which the […]
Retirement Fund Contribution Update
Some sweeping changes will take effect from 1 March 2016. The Taxation Laws Amendment Act No. 25 of 2015 that was published in Government Gazette No. 39588 on 8 January 2016 confirms the changes to the tax […]
Are the Proteas Blooming again?
Despite claims from the England side that they would be fully motivated for the final test at Centurion, it soon became evident that the extra edge they displayed in the first three tests […]
RE Deadline for Local and Foreign FSPs
Candidates are required to successfully complete the applicable level 1 Regulatory Exam by 30 June after expiry of 24 months from the date of first appointment as representative. In practical terms, this means that those […]
Healthcare Commission Increase
The Council for Medical Schemes announced a 9.6% increase in the maximum commission payable to registered healthcare brokers. This puts them on par with government employees who also receive increases way above the […]
Rights of Homeowners Association
You bought property in a security estate managed by a Homeowners Association (HOA.) The property was expensive but in your mind an investment in your future. However, personal financial constraints have made you […]
FSP Contractual Obligations
Employers will have to ensure that they have all their ducks in a row once the Financial Sector Regulation Bill is passed. There are two aspects, in particular, where the new legislation will […]
Appeal Board Halves Debarment Period
An appellant received an early Christmas box on 24 December when he appealed successfully against a five year debarment for failing to meet the personal character qualities of honesty and integrity. The FSB debarred […]
Where to now, Proteas?
The ticking time bomb which threatened since the departure of stalwarts like Smith, Kallis and Boucher finally exploded. Losing our number one spot in the world rankings came as no surprise. My colleague, […]
Moonstone/Webber Wentzel Regulatory Update Workshops 2016
The following topics will be discussed in more detail: The impact of the Financial Sector Regulation Bill on your business The FSR (Twin Peaks) Bill will change your regulatory landscape and your Regulator. […]
Actions flowing from Binder Thematic Review findings
The review focused on 4 main areas: Compliance of binder agreements with regulatory requirements Governance and oversight of binder arrangements Reporting systems and access to information; and Binder fees paid to non-mandated intermediaries […]
The importance of proper record keeping
The Buthelezi determination by the FAIS Ombud, signed on 12 January 2016, highlights again the need for accurate record keeping and the dangers inherent in not completing an application form fully whilst at the client. […]
RDR General Status Update on Investments
The information contained in the update published in December is divided into seven “Themes”. This article provides a summary of some of the points discussed in Theme 2: Investments. At the end of the […]
