Moving Clients to a new FSP
Representatives in the short-term industry who move to a new FSP, often take their clients with them. There are very specific legal requirements in this regard, and ignoring it can have a costly […]
SARS: Almost 100% of its auto assessments are accurate
Tax practitioners say the headline statistic may obscure the true extent of incomplete auto assessments.
Prescribed Medical Benefits – 'In accordance with' replaces 'paid in full' – Patricia Holburn
Since the introduction of Prescribed Medical Benefits (PMBs) in 2004, definitions, inclusions, cost and reviews, have raised concerns. PMBs were well intentioned – make sure members have cover for emergencies and big events. […]
Statistics can be misleading
As one is wont to do these days, I was almost more interested to see who the referee is for Saturday’s big match between New Zealand and South Africa, than what the teams […]
Third Party Enquiries
Our RE Department receives many enquiries from third parties, like compliance officers, for information about candidates. In line with the Promotion of Access to Information Act (PAIA), and the FSB’s mandate to examination […]
Special Audit on Sign-On bonuses and Churning
FAIS Newsletter 17 contains details of the outcome of this special compliance audit to investigate the link between the payment of sign-on bonuses and the replacing of products as a result thereof. The […]
Upfront Remuneration on Savings Plans
We are aware of at least one product provider who offers upfront discounted fees, plus further payments in years 6 and 11 of the plan. Whilst this option contains a number of positive […]
Remuneration on Tax-free Savings – Patrick Cairns
The introduction of tax-free savings accounts on 1 March this year was a positive step from National Treasury. Effectively the government has put its money where its mouth is with regards to encouraging […]
Delay in Burundi’s presidential elections, Rwandan parliament wants referendum on Kagame’s third term
Burundi’s presidential election has been postponed by five days, and the first round will now be held on Tuesday, July 21. Authorities thus want to look as though they are meeting international diplomats […]
Importance of RE Qualifying Criteria
The absolute necessity to ensure that you take into account the qualifying criteria when preparing for the regulatory exams was highlighted in a recent comment from a candidate: Whilst the feedback and information […]
Crime and Punishment
It is not only in rugby that we see different standards being applied by those tasked with applying the rules. The recent banning of an adviser in Australia, compared to some recent appeals […]
Attack and Defence
The Australian side for Saturday’s clash against South Africa certainly looks dangerous – on paper, at least. A backline comprising Israel Folau, Adam Ashley-Cooper, Tevita Kuridrani, Matt Giteau, Rob Horne, Quade Cooper and […]
Piggy banks become investment portfolios
This is the second in a series of articles on savings, published in July, National Savings Month. An article by Rick Briers-Danks, certified financial planner at Veritas Wealth, highlights the need to instil […]
Update on Debarment Article
On 18 June, an article titled More debarments end up in court reported on two representatives who turned to the courts after being debarred by their former employer. In an urgent application in […]
ASSA Feedback on RDR Proposals
MoneyMarketing recently reported that 50 members of the Actuarial Society of South Africa (ASSA) agreed to assist the FSB with the assessment of the feedback received on the proposals contained in the Retail […]
Ghardaia violence is a particular worry for Algeria right now
Violence in Ghardaia is a symptom of Algeria’s stagnant polity, but also shows up a dangerous, exploitable fault line. The most recent violence between Mozabite (Berber) and Arab communities, who belong to different […]
Financial Planning for Women – Sylvia Walker
Life is one amazing experience. Clichéd as it may sound, we are all taken on a journey that is beyond our wildest imaginations, peppered with twists and turns and many highs and lows. […]
Update on level II REs and CPD
The initial idea was for the Level II REs to focus more on product knowledge, with CPD kicking in afterwards to ensure you stay up to date with developments in your chosen fields of […]
