The rising number of investigations and inspections underline a shift from registration to active supervision.
The Registrar published proposed amendments to the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003 and proposed amendments to the Specific Code of Conduct for Authorised Financial Services Providers […]
The proposals for amendments to the General Code of Conduct (GCoC), published in November 2017, expand substantially on the Regulator’s expectations in terms of how complaints are handled. Exactly three years ago we published […]
The October edition of the OSTI Briefcase contains some interesting insights on two complaints, in particular. Promissary warranty The issue for determination in this matter was whether the insurer was entitled to reject […]
The FSB responded as follows to two articles we recently published on these topics. In your articles, “Sticking to the script?” and “FSB Fit and Proper Requirements: Qualifications and execution of Sales”, published […]
This question will be answered on 30 November, when the J C Mostert / L Landman appeal against a determination by the FAIS Ombud Appeal is heard by the FSB Appeal Board. We believe […]
A recent decision of the High Court in Bloemfontein where an FSP was found to have been negligent in advising a client to invest in the Sharemax scheme, is a “must read” for […]
Financial software provider IRESS and digital meeting place provider SuiteBox have announced the integration of SuiteBox’s digital workspace solutions with IRESS’s adviser software, Xplan, as advisers seek more ways to communicate with clients. […]
Principal Executive Officers are the drivers of retirement funds in Southern Africa. Given the important role they play within the governance structure of a retirement fund, including the proper performance of the board […]
Market indications are that the final Fit and Proper Regulations are due for publication any day now. These regulations form an important part of the knowledge tested in the Regulatory exams. Changes to […]
Mark MacSymon, a wealth manager at Private Client Holdings, was named the 2017 Financial Planner of the Year on Thursday. The award, presented by the Financial Planning Institute (FPI), is the highest accolade […]
The National Credit Regulator (NCR), in a media release on 24 October 2017, also issued a compliance notice to Volkswagen Financial Services South Africa (Pty) Ltd (VW) for charging consumers an on-the-road fee, admin fee […]
The document titled “Guideline on the Determination of Reappointment of Debarred Representatives”, published on 13 July 2011, was withdrawn in a notice published on Friday, 20 October 2017. No reason for the withdrawal was given, nor was […]
The Financial Intelligence Centre recently sent a guidance note to all Accountable Institutions to assist them in assessing their readiness to comply with the amended legislation which came into effect on 13 June and […]
When the Financial Sector Regulation Bill was sent to parliament for final ratification, it was returned with a number of proposed amendments, most of which related to financial inclusion. This was also the […]
Some of the harshest criticism of the Financial Sector Regulation Act concerns cost, with some claiming inadequate impact assessment, specifically as far as cost is concerned. Caroline Da Silva,acting Deputy Executive Officer for […]
Was justice fully served in the Oosthuyzen case before the High Court in Bloemfontein last month? From the perspective of the plaintiff, possibly yes, albeit it 7 years later. Delayed, but at least not […]
A bereaved widow, who was convinced to invest R2 million in the Sharemax Villa scheme, finally saw justice a month ago in the Bloemfontein High Court, when the judge held her financial advisor accountable […]
