Appeal Board upholds FSB debarment decision
A FSP was suspended on 27 March 2015 for failure to submit a compliance report and not successfully completing the RE1 for key individuals. According to a recent Appeal Board decision, the FSP […]
SARB ramps up 3% inflation goal – Godongwana insists on due process
The Reserve Bank’s repo rate cut by 25bps to 7% signals the start of a more accommodative cycle as inflation remains firmly under control.
NHI promises equality of care
Implementing NHI will be an enormous task but promises equality of care for everyone – GTC Healthcare Whilst every South African will find it difficult to argue with the concept of National Health […]
FSB Appeal Board again rules against FAIS Ombud
In May 2016 we published an article titled Ombud holds insurer liable for Sharemax loss. Briefly: A Momentum representative (Marais) introduced the client to a broker (Storm) who had a Sharemax contract. The […]
Employees’ Tax on Termination
We recently received a very informative article from Webber Wentzel on what can be quite a taxing question, if you’ll pardon the pun. Employees are entitled to certain payments upon termination of their […]
The future of Level 2 REs and CPD – July 2017
A recent “Round Table” discussion by Ms Caroline da Silva, Deputy Registrar, FAIS of the FSB, provided a welcome update on the Regulator’s current thinking on a number of key issues, including: Regulatory […]
NHI White Paper Published
Reports since the publication of this long awaited document certainly contained conflicting reports on what we can expect. Pam Saxby for Legalbrief Policy Watch notes that that references in the media to proposals […]
REs for Compliance Officers
We recently published a template showing the deadlines for compliance officers to successfully complete specific regulatory exams. The FSB very kindly expanded on our original publication, including CO’s for Licence Category 4, and also […]
FSB Appeal Board Clarifies Factual Causation
The recent Appeal Board Determination in the matter of J&G Financial Service Assurance Brokers (Pty) Ltd and R L Prigge is an important Determination for a number of reasons. Mention has already been […]
Digital Workspace Solutions provider SuiteBox Breaks New Ground
This digital meeting platform, which offers a wide range of solutions to current challenges for financial advisers, recently made the news for the right reasons. Suitebox won the “mobility solutions” category in the […]
Insurance Apprentice 2018 gets under way
The fourth series of The Insurance Apprentice is set to take the short-term insurance industry by storm once again as preparations get under way and applications for the 2018 event take center stage. […]
FAIS clearly unclear about intermediary services
The Free market Foundation recently published an article on a matter which has certainly been a major bugbear since the introduction of the FAIS Act. When does a person have to register for […]
FSP Levies for 2017 announced
FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we […]
Notes on the Insurance Bill
The Insurance Bill in its probable final form has now been published. The Bill deals essentially in prudential matters as these apply to insurers. However, there are a number of amendments to existing […]
Retirement Fund Advantage
Do you understand the difference between the “27.5% of remuneration or 27.5% of taxable income” rule? Tony de Wijn of Softbyte Computers in Durban kindly offered subscribers a gratis programme which you can […]
FSB fines Smart Life R150 000
The Registrar of Long-term Insurance (the Registrar) referred a case against The Smart Life Insurance Company Limited (Smart Life) to the Enforcement Committee of the Financial Services Board. During the period 15 April 2013 until […]
Appeal Board Comments on Ombud
In the recent “Prigge” decision, the FSB Appeal Board commented on the FAIS Ombud’s powers and duties in a fairly forthright manner. The information below is taken directly from the Appeal Board decision. […]
Mitigating cyber risk in the financial services sector
A summary of this paper first appeared in the June edition of Moneymarketing. Whilst I am sceptical of the local application of surveys and studies done in other countries, I think that this […]
