How technology is changing the Financial Industry
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 […]
Draft AI policy scrapped after fake citation findings
Minister Solly Malatsi pulls the draft framework following confirmation that it includes unverified, likely AI-generated sources.
Important debt review ruling – Can court release consumer from debt review agreement?
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 is here – Assist your clients to spring clean their finances
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 […]
New National Qualifications Framework Amendment Act – Don’t lie on your CV
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 […]
Tribunal again rules against FAIS Ombud
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 […]
Annual death claim benefit statistics – Beneficiaries receive more than R15.1 billion
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, […]
The impact of biases – It can sink your investment success
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 […]
The prescription of assets – ASISA’s position
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 […]
FSCA news – Request for information from certain financial institutions
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 […]
Men Are from Mars, Women Are from Venus – Does this apply to financial matters as well?
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 […]
New driving demerit system – What will the impact be on insurance?
Two weeks ago President Cyril Ramaphosa signed the controversial Administrative Adjudication of Road Traffic Offences (Aarto) Bill into law. In general, the Bill will result in the setting up of a demerit system […]
New driving demerit system – What will the impact be on insurance?
Two weeks ago President Cyril Ramaphosa signed the controversial Administrative Adjudication of Road Traffic Offences (Aarto) Bill into law. In general, the Bill will result in the setting up of a demerit system […]
National Health Insurance – Health Minister dismissive of criticism
“We are one nation building one health care system. Let’s work together. There is no us and them.” These were the words in a tweet of Dr Zweli Mkhize, South Africa’s Health Minister. […]
There is a rat in my car – Am I covered?
The lyrics of a UB40 song reads “There’s a rat in my kitchen what am I gonna do?” The song also relates to the owner of a Porsche, who discovered a resident rat […]
Drone technology – An empowering game changer
One type of insurance technology many insurance companies are using nowadays is drones. According to DeLoitte there are two strategic objectives: better risk management through improved data collection, and reduced operational costs through […]
FSCA Tribunal orders FAIS Ombud to reconsider determination
The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard on 25 June 2019 should result in serious introspection by the office of the FAIS Ombud. Whilst not […]
Local CIS investors cautious – Opting for interest over equities
The local Collective Investment Schemes (CIS) industry completed the second quarter of this year with assets under management of R2.4 trillion, spread across 1 607 portfolios. Almost half of these assets were held in South […]
