From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
The Oosthuysen determination, published in December 2016, and discussed above, yet again highlights the importance of accurate record keeping, and the need to consider using technology to cover our backs from clients suffering from […]
Bad news and good news – Both the FSB and the Council for Medical Schemes have published fee increases. FSB Fees The previous notice was published on 24 March 2015, and signed by the then […]
This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were […]
This is possibly the biggest bone of contention for advisers in the investment space. In the FSB’s RDR Update published in December 2016, the following information was conveyed: Commission on investment products As indicated […]
The FSB’s Appeal Board came to an interesting decision in the last case published in 2016. This was an appeal against two previous decisions against a FSP by the FAIS Ombud in a […]
In a media release on the matter, the Democratic Alliance states: This poorly conceived decision demonstrates just how ideologically constrained the Ministers have become when it comes to ensuring that poor South Africans […]
In December, the FAIS Ombud released no less than eight determinations. In a strange turn of events, one case was actually referred to the courts as the Ombud was unable to determine whether […]
At the conclusion of the Insurance Regulatory Seminar last year, Mr. Jonathan Dixon, Deputy Registrar of Insurance at the FSB, indicated that 2017 will be a year of substantial change. The huge amount […]
The Silent Warrior reaches a ton of a different kind The tributes have been coming in thick and fast from all over the world for Hashim Amla’s 100th test. The respect he has […]
Documents released in December 2016 reveal that the FSB intends changing no fewer than seven (7) pieces of legislation in the near future, some possibly coming into effect as early as May 2017. Those who […]
The RDR status review, published in December 2016, contained the following information concerning short term remuneration, and specifically regarding additional fees currently charged under section 8(5) of the Short Term Insurance Act. (f) Proposal […]
True to form, a huge amount of proposed legislative changes were published towards the end of last year. Formal consultation on the draft regulatory instruments to be used to give effect to Phase […]
A reader recently enquired about the validity of the regulatory exams in view of all the pending new legislation. “Will my RE1 and RE5 certificates still be valid when the new Twin Peaks […]
The FSB intends replacing the current FSB compliance reports with Conduct of Business Reports (COBR) and has called for industry input on the proposed document. The content and format of the proposed COBR […]
SuiteBox provides video business meeting software of specific benefit to modern day financial advisers. Apart from providing significant cost, productivity and client engagement improvements, it assists in simplifying record keeping. Inaccurate or insufficient […]
Revised Draft Default Regulations on Lowering Charges and Improving Market Conduct for Retirement Funds: National Treasury today publishes a second draft of the retirement funds default regulations, made in terms of section 36 […]
In an article titled, Rebuilding trust through digital automation, Australian Adviser Intelligence’s Jacqui Henderson writes: Trust in the financial services industry has been low since the global financial crisis of 2008, but innovative […]
