SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
Financial advisors are required to clear many hurdles when it comes to regulatory compliance. Those who choose to ignore the rules can find themselves at the wrong end of justice. In the financial […]
An insurer’s obligations concerning the lapsing of a policy was recently the subject of an investigation by the Long-term Ombud, following the repudiation of a claim. “Repudiation involves disputing the validity of a […]
The ultimate objective of the financial advisor is to help clients prepare for the future using the various financial products available. If the financial advisor can minimise the number of traumatic experiences that […]
The 2019 Sanlam Benchmark Survey found that one-third of employers using umbrella funds have never reviewed their provider, while less than half of respondents conducted a review of their provider every one to […]
The Council for Medical Schemes (CMS), in partnership with the Gordon Institute of Business Science (GIBS), has introduced Advanced Trustee training. The training is aimed at medical schemes’ Board of Trustees, principal officers, […]
There will be planned maintenance of ICT systems, starting on Friday 13 September 2019 at 17:00, until Sunday 15 September 2019 at 20:00. This means that all ICT services, including the FSCA website, will not be accessible […]
Section 14(1) of the FAIS Act makes it compulsory to debar a person if he or she fails to comply with the requirements of Board Notice 194 of 2017 which became effective on 1 April 2018. […]
One of the predictions of 2019 was that digital transformation will be one of the big influences that will be visible in the financial services industry. Forbes predicted that “we will see big […]
LegalBrief reported yesterday that the Gauteng High Court (Johannesburg), in a judgment written by Judge Roland Sutherland, has confirmed similar rulings in the Western Cape, KZN and Limpopo divisions, that the High Court […]
Spring has finally arrived and with the turn of the season comes the opportunity to start afresh. While everyone may be spring cleaning their home, office or email inbox, one of the most […]
Claiming to hold a tertiary qualification that you do not have could come with a jail term of five years in South Africa. The new National Qualifications Framework Amendment Act came into effect […]
Last Monday we published an article on the outcome of a FSCA Tribunal hearing with the following introduction: “The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard […]
The 2018 annual death claim benefit statistics for fully underwritten individual life policies released last week by the Association for Savings and Investment South Africa (ASISA) show that life insurers paid 33 545 claims, […]
Everybody has biases. We make judgements about people, places, and of course, the markets. It is almost impossible not to allow the filters which are created through our emotions and our experiences to […]
ASISA has recently added the following to their website: Their position on the prescription of assets; A PowerPoint presentation by Gill Raine, senior policy adviser at ASISA; and A column on the topic […]
The FSCA has commissioned a classification of all identity numbers and company registration numbers of financial institutions on record. As a result certain identified financial institutions will receive a “request for information” template […]
A recent American survey examined how consumers are talking about money to their friends, family and financial advisers. The survey results showed that women are more likely than men to purposely avoid the […]
