SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
In May 2016 we published an article titled Ombud holds insurer liable for Sharemax loss. Briefly: A Momentum representative (Marais) introduced the client to a broker (Storm) who had a Sharemax contract. The […]
We recently received a very informative article from Webber Wentzel on what can be quite a taxing question, if you’ll pardon the pun. Employees are entitled to certain payments upon termination of their […]
A recent “Round Table” discussion by Ms Caroline da Silva, Deputy Registrar, FAIS of the FSB, provided a welcome update on the Regulator’s current thinking on a number of key issues, including: Regulatory […]
Reports since the publication of this long awaited document certainly contained conflicting reports on what we can expect. Pam Saxby for Legalbrief Policy Watch notes that that references in the media to proposals […]
We recently published a template showing the deadlines for compliance officers to successfully complete specific regulatory exams. The FSB very kindly expanded on our original publication, including CO’s for Licence Category 4, and also […]
The recent Appeal Board Determination in the matter of J&G Financial Service Assurance Brokers (Pty) Ltd and R L Prigge is an important Determination for a number of reasons. Mention has already been […]
This digital meeting platform, which offers a wide range of solutions to current challenges for financial advisers, recently made the news for the right reasons. Suitebox won the “mobility solutions” category in the […]
The fourth series of The Insurance Apprentice is set to take the short-term insurance industry by storm once again as preparations get under way and applications for the 2018 event take center stage. […]
The Free market Foundation recently published an article on a matter which has certainly been a major bugbear since the introduction of the FAIS Act. When does a person have to register for […]
FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we […]
The Insurance Bill in its probable final form has now been published. The Bill deals essentially in prudential matters as these apply to insurers. However, there are a number of amendments to existing […]
Do you understand the difference between the “27.5% of remuneration or 27.5% of taxable income” rule? Tony de Wijn of Softbyte Computers in Durban kindly offered subscribers a gratis programme which you can […]
The Registrar of Long-term Insurance (the Registrar) referred a case against The Smart Life Insurance Company Limited (Smart Life) to the Enforcement Committee of the Financial Services Board. During the period 15 April 2013 until […]
In the recent “Prigge” decision, the FSB Appeal Board commented on the FAIS Ombud’s powers and duties in a fairly forthright manner. The information below is taken directly from the Appeal Board decision. […]
A summary of this paper first appeared in the June edition of Moneymarketing. Whilst I am sceptical of the local application of surveys and studies done in other countries, I think that this […]
The Council for Medical Schemes published Circular 39 of 2017, calling for industry input on its intention to declare certain practices irregular or undesirable. Regulation 8 of the Medical Schemes Act entitles medical schemes […]
The National Treasury presented its response to public comments received on the Insurance Bill, 2016, to Parliament’s Standing Committee on Finance in May. A copy of the Bill, as well as the presentation […]
