FSB Presentation: Non-Financial Services FSPs
Non-Financial Services FSPs – 9 July 2013 Agenda: Opening – Charene Nortier – FSB Overview of the FSB – Michelle Naidoo – FSB Juristic Representatives – Alan Holton – Compliance Monitoring Systems CC […]
High Court orders insurer to reconsider unfair debarment carried out in 2016
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Read moreThird Party Disclosures to SARS
We came across this article in the June edition of the Logista newsletter. The 2011 Tax Administration Act indicated that SARS would be looking to third parties, such as banks, medical aids etc, […]
Fools rush in
A Department of Agriculture representative stopped at a farm and talked with an old Afrikaans farmer. He told the farmer, ‘I need to inspect your farm.’ The old Afrikaner said, ‘OK Boet, but […]
Draft Directive on Causal Event Charges
A document from the Registrar of Long-term Insurance was published in June and calls for comments by 31 July 2013. The request for input on the Directive follows in the wake of determinations […]
Fees for Service – ASISA Views
In response to our article of 25 June regarding the CoreData Research survey on Fees for Service, ASISA commented as follows: ASISA’s understanding of the pending Retail Distribution Review is that changes are […]
FSB Workshops in July and August
There are 4 workshops in July, three of which are held at the FSB offices in Pretoria. The only telematic broadcast in July takes place tomorrow (9th of July). The target audience is […]
Rampant Lions Seal Series
Watching the final game of this closely fought series, I finally worked out how the Lions clothing works. Scotland and Ireland combine to make op the socks, England contribute the white shorts, and […]
Wales to the Rescue?
Warren Gatland, the Welsh coach who is also in charge of the B & I Lions, put a cat amongst the pigeons when he announced that two thirds of his starting line-up would […]
What TCF is NOT
When does Treating Customers Fairly (TCF) become a reality? In the original planning, January 2014 was indicated as the planned date for implementing legislative changes envisaged in the regulatory framework. If this is […]
Information Letter 3 of 2013 on Binders Regulations
This document from the FSB provides: Guidance on activities that constitute binder functions, Guidance on activities that are incidental to binder functions. Remuneration payable as a binder fee. Some important points: Inclusion of […]
Professionele Vrywaring en Jou Regte
Ons moes nogal kopkrap oor wat “Professional Indemnity” in Afrikaans is. Bogenoemde is volgens die regsmense en taalkundiges die korrekte term, hoewel professionele indemniteit skynbaar ook korrek is. Dit mag so wees, maar […]
Enforcement Committee Fines
We received two media releases from the FSB this week. In the first, The Lawyers Voice (Pty) Limited (“Lawyers Voice”) marketed and sold three different insurance policies which were not underwritten by a […]
Industry Origins
In deference of your history of expressions or words in a recent Monitor, the following refers to the noun “brokers”. Part one Many, many years ago in a gilded coffee bar in the […]
Fee for Service in Australia
Due to new laws, the Australian Financial Advisory Industry is in a severe state of turmoil. Known as FOFA (Future of Financial Advice), this legislation was passed by the Australian parliament in March […]
New Appointments at FSB
The Minister of Finance approved the following appointments, as recommended by the FSB: Ms Caroline da Silva as Deputy Executive Officer for Financial Advisory and Intermediaries Services, replacing Mr Gerry Anderson, Deputy Executive […]
2013 – 2014 Tax Season Opens
When I lived on the West Coast, the first day of the crayfish season was a joyous occasion. Somehow, I do not share the same elation when I read about the opening of […]
