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Tribunal Debarment decisions – Why the increase?

Over the last few months we have seen an increase in debarment cases placed before the Financial Services Tribunal for reconsideration. Why? Has there been an increase in debarments? Has many of these debarments been effected as an injustice to representatives? What changed? A right to appeal A representative now has a right to appeal […]

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Registrar of Pension Funds Annual Report

What can we learn from the past? The Registrar of Pension Funds 59th Annual Report for the 2017 calendar year was published on 18 December 2018. Besides the industry statistical overview, performance of funds and financial statements, the report covers proposed regulatory changes, litigation matters, unclaimed benefits and the outcomes of on-site visits Amendments to […]

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Proposed tax changes – What South Africans may expect

In a recent BusinessTech article, Jerry Botha, managing partner of Tax Consulting SA outlined five possible tax changes that South Africans should know about. National Health Insurance and medical aid credits There are promised announcements around National Health Insurance especially the funding thereof in the Budget 2019/20. Travel reimbursement rates According to Botha the reimbursement […]

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What Does Your Online Presence Say About You?

Have you “googled” your name? Do you come up on the first page of the search results? The fact is you have an online presence, either intentionally or unintentionally, or both. In a recent IRIS article Dan Sondhelm, CEO of Sondhelm Partners writes that in the highly competitive financial advisory landscape, where trust and transparency […]

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Cyber risk

Business interruption and cyber risk top SA corporate concerns

Allianz Risk Barometer 2019: Business interruption and cyber risk top South African corporate concerns According to the 2019 Allianz Risk Barometer, cyber incidents now trigger the same level of corporate concern as business interruption events. The results show that climate change, workforce skill shortages and legislative/regulatory changes are also major concerns for corporations across the […]

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Business or commercial insurance?

Business or commercial insurance? – Advisor’s duty to ensure clients are correctly covered The conundrum of business vs commercial vehicle insurance is once again showcased in one of the most recent determinations issued by the Office of the FAIS Ombud. An insurer originally rejected a client’s claim because the client (“the complainant”) used the insured […]

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Softfin Financial Planning Software

Experience taught us that a low-cost offer should be treated with suspicion and a no-cost one with even greater circumspection. There are exceptions, though. Softbyte Computers announced last week that Moonstone subscribers can now access SoftFin financial planning software at no cost for a whole year. “With no ties to any financial institution or organisation, […]

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Fintech policies and regulatory frameworks – National Treasury programme update

“Financial Technology (FinTech) has become an increasingly popular phenomenon, with people familiarising themselves with crypto-currencies such as Bitcoin, SAFcoin and many others. The main issue with all these currencies is that they operate in a relatively unregulated environment; thus government is unable to either track or protect consumers from potential fraud that may be associated […]

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FSCA Directive 8 – Prohibition on the acceptance of gratification

The recently published FSCA Second Quarter Bulletin 2018/2019 provides feedback on the FSCA’s regulatory update session at the recent Institute of Retirement Fund Association Conference. The directive is based on the general principle that a board member, principal officer, employee of a retirement fund, auditor, valuator, administrator, employee of an administrator, or service provider to […]

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