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Women’s Day Special

No doubt there are some jokes one cannot share on this special day. As part of our educational drive, I will publish some stories to show what is not acceptable. Marital Bliss My wife was screaming at me: “Leave!! Get out of this house!” she ordered. As I was walking out the door she yelled, […]

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Client Mandates

FAIS information circular 4 of 2012, published on 12 April 2012, contains information on bulk client transfers and the re-signing of client mandates. Most of the information below is copied directly from the circular for the benefit of those who may have missed it. Changes to the legal structure of your business, or the buying […]

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FAIS Act under Threat?

An extremely important court case, which could have severe implications for the FAIS Act, is currently under way in Pretoria. At stake is the FAIS Ombud’s jurisdiction to make determinations about investments in property syndications. Deeb Risk, who was ordered by the Ombud to repay in excess of R2 million to clients whose funds were […]

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NewGold Exchange Traded Fund (ETF)

Mike Brown, Managing Director, etfSA.co.za The NewGold ETF (GLD) issued by Absa Capital, is the most successful South African ETF measured by size. First listed on the JSE in November 2004, it now has 137 million shares in issue with a market capitalisation of over R18 billion. The next biggest ETF is Satrix 40, with […]

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You be the Judge II

This article in Thursday’s Moonstone Monitor elicited the biggest response in years. Many readers shared their views, and no doubt, their preparation for the regulatory exams was very evident. Thanks for all your input. I asked Paul Rabenowitz, FAIS expert at Lightbulb Learning, for his views. To refresh your memory: we posted this question from […]

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The gifted Horse

A group of Grade 3, 4 and 5 pupils, accompanied by two female teachers, went on a field trip to the Greyville Racecourse, to learn about thoroughbred race horses and the supporting industry, but mostly to see the horses. When it was time to take the children to the ‘bathroom’, it was decided that the […]

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You be the Judge

I received the following enquiry from a reader. It reflects a common problem which many FSPs experience when having to determine whether a person is merely providing administrative assistance, or actually giving advice, or providing an intermediary service. I was at one of my brokers the other day. The admin staff says that, because they […]

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Survey Assistance

ASISA’s Medical & Underwriting Standing Committee (MUSC) have requested our assistance in a survey of intermediaries on Standardised Critical Illness Definitions (SCIDEP). This applies to all advisors involved in life assurance. It aims to test your awareness of these definitions and the value it can add to your business. The survey itself is very short […]

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Reactions to article ''A matter of principle'''

Concerned Trainer writes It is encouraging to see representatives are questioning the legality of their actions, but should they not know this if they have passed the RE Level 1 exam? During the RE Exam Prep Workshops this question came up very often. Of course we would then explain the conflict of interest principals in […]

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Communicating with the Regulator

Callers to our offices sometimes express frustration trying to communicate with the FSB, and end up using us as a source of information. We obviously regard this as a major compliment, and try to help where we can, but the ultimate decision always rests with the Regulator. Three recent exemptions published on the Regulator’s website […]

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