Financial reporting – Exemption for certain pension funds
The FSCA has just published PFA exemption notice no. 3 of 2019 that exempts certain funds from the requirements of sections 9a and 16 of the Pension Funds Act. What does the PFA […]
F&I professionals urged to turn compliance into customer value
Strong engagement, clear records of advice, and a culture of ethics can help F&I professionals build trust and improve customer outcomes.
CPD – two month exemption to comply
Last week the FSCA published the Exemption from Continuous Professional Development Requirements, 2019 – No 2 of 2019 on its website. The purpose of the Exemption is to allow financial services providers, key individuals and representatives […]
Long Term Ombud Annual Report – Cases resolved in favour of complainants increased
“We received 11 768 written requests for assistance, including 5 978 chargeable complaints. In total, 3 367 cases were finalised, of which 31.5% were resolved wholly or partially in favour of complainants”, Judge […]
CPD 2018 cycle extended
The FSCA has published the following exemption on its website: The Exemption from Continuous Professional Development Requirements, 2019 – No 2 of 2019 The purpose of the Exemption is to allow financial services providers, key individuals […]
General Household Survey – Important pointers to understanding markets better
Service delivery, education, social security and household incomes – these are a few of the areas that the 2018 General Household Survey (GHS) by Statistics South Africa (Stats SA) from January to December […]
Considering doing a qualification? – Some guidelines on the Higher Certificate in Wealth Management
With qualifications being a definite “must” for advisors in most categories, it is important to know which one is the right choice. The FSCA recently released FAIS Notice 36 of 2019, providing updated […]
Internet access – Survey reveals South African connectivity statistics
Communication plays an important role in the fundamental operation of a society. It links people and businesses, facilitating communication and the flow of ideas and information and coordinating economic activities and development. The […]
COFI Bill – Aims to strengthen regulation customer treatment and general market conduct
The Conduct of Financial Institutions Bill (COFI) intends to regulate how the financial services industry treats its customers. The Bill was published by the Minister of Finance in December 2018 and was open for […]
Financial education – Customers need to be put at the heart of your business
Financial education champions from around the world gathered in Cape Town last week for the FSCA-OECD Conference. The conference aimed to find innovative ways to prepare financial customers for current and future changes […]
The Trust Dilemma – New date for facilitated training for CPD
The training, hosted by Stefan Lessing, will now be held in Pinelands, Cape Town on Thursday 11 July 2019. The purpose of the course is to equip delegates with all the necessary tools and skills […]
Insurer Claim Statistics 2018 – What data shows about claims
Last week, both Liberty and Momentum released their Claim Statistics for 2018. In 2018 Liberty paid claims to the value of R4.69 billion to 28,453 individuals and their beneficiaries. Momentum also paid out claims […]
Unclaimed policy benefits – ASISA members using tracing activities to honour claims
ASISA’s members united policyholders, beneficiaries, investors & heirs with unclaimed assets of R8.1bn last year. According to a recent ASISA news release, unclaimed assets of R17.1bn remain, but members will honour claims no […]
The post-retirement challenge – How to position your clients’ investments
by Patrick Cairns A man entering retirement can currently expect local insurance companies to offer starting annuities of roughly between R5 250 and R5 850 per month for every R1 million of capital he has. This […]
Cyber-attack methods – Which are the most common ones?
“By exercising vigilance and following security best practices, users and organisations can take measurable steps in protecting themselves against some of the industries’ most common attacks.” Tweet by The Insurance Crime Bureau, May 21, […]
National Credit Amendment Bill – Clarity on what debt will be written off
One of the bills that are awaiting sign off, now that the election has passed, is the National Credit Amendment Bill. What are the aims of the bill? The bill aims to provide […]
CPD requirements – Extended CPD activity explained
The publication of the FSCA’s FAIS Notice 35 of 2019 triggered a few questions in the industry. The FAIS Notice states that “FSPs, key individuals and representatives who are members of foreign professional […]
Qualification requirements – Updated recognised list published
In an article in April we recapped the main qualification requirements based on Board Notice 194 of 2017. Depending on the financial product/s which financial advisors are authorised for, new entrants to the […]
