Discovery Health has abandoned recovery action against more than 16 500 members, agreeing to absorb up to R170 million in overpaid ATB claims after sustained pressure from MediCheck,
Although getting divorced is a relatively straightforward process, at least from a legal perspective, the emotional and financial implications are often enormous. This is the view of Allan Gray’s Legal Advisor, Mlulamiu Nxele. […]
The statutory mandate which led to the creation of this Ombud’s office requires that it considers and disposes of complaints in a procedurally fair, informal, economical and expeditious manner, and by reference to […]
Obtain all the relevant and available information and make a recommendation that is appropriate in terms of your clients’ needs and circumstances. If advisors fail in this basic requirement, the outcome can be […]
According to Wikipedia financial technology, often shortened to FinTech or fintech, is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is […]
Alexander Forbes Health recently published its latest edition of Diagnosis, an annual publication that analyses key trends in the medical schemes industry from 2000 to 2017. “Members can be confident that the country’s […]
In September 2018, the Council for Medical Schemes (CMS) published a Draft Framework for Medical Schemes Consolidation for comment. In response to these comments the CMS has done additional analysis and as a […]
The Financial Services Tribunal, which replaced the FSB Appeal Board from 1 April 2018, provides a person who is “aggrieved” by a “decision” of a “decision-maker” to apply to the Tribunal for a reconsideration of […]
The amended Fit and Proper requirements of Board Notice 194 of 2017 determined various requirements that need to be implemented and complied with before specific deadline dates. Since the release of the original […]
Since April 2018, the FSR Act includes the Pension Funds Adjudicator (PFA) as a “decision-maker” and is therefore in a position to entertain appeals against determinations handed down by the PFA. In one […]
Based on the comments received through public consultation, the FSCA is of the view that the previous proposed template for the replacement advice record (RPAR) raised certain practical challenges for intermediaries and insurers […]
Since representatives have been given the right to appeal to the Financial Services Tribunal against debarment decisions, many such actions have been set aside by this appeal body. In most of these cases […]
On 22 March 2019, the FAIS Ombud established a Client Care Centre. According to the FAIS Ombud, the Client Care Centre will ensure that the Ombud’s office is able to not only efficiently […]
After a successful consultation process, the Financial Intelligence Centre has updated its guidance on suspicious and unusual transaction reporting, which relates to section 29 of the Financial Intelligence Centre Act, 2001 (Act 38 of […]
In terms of the Fit & Proper requirements (BN194), CPD for regulatory (FSCA) purposes was officially implemented as a requirement. This means advisors are obliged to perform CPD activities towards regulatory (FSCA) CPD […]
The 2019 Social Media Landscape Report showcases the South African digital and social media trends. The report confirms that social media is growing rapidly in South Africa, with users constantly finding ways to […]
According to latest Nielsen research consumers globally are growing increasingly optimistic about their financial wellbeing, particularly in developing markets throughout Asia-Pacific, Africa & Middle East and Latin America. Globally, 58%of global consumers feel […]
According to latest Nielsen research consumers globally are growing increasingly optimistic about their financial wellbeing, particularly in developing markets throughout Asia-Pacific, Africa & Middle East and Latin America. Globally, 58%of global consumers feel […]
