The High Court finds Banxso knowingly benefited from deepfake adverts, misled clients about its licence and returns, and is ‘hopelessly insolvent’.
“Hi @VelocityInsurance. I’ve had it with @TheBestInsuranceCompany. I want to buy a comprehensive insurance package for my car from you. DM me for details.” This tweet is not atypical of what you’re likely […]
Posing with Faf du Plessis at the start of the tournament is as close as Steve Smith got to the trophy. Photo: Gallo Image I was chatting to my colleague Billy Seyffert this […]
Claims fraud statistics for 2015 released in September by the Association for Savings and Investment South Africa (ASISA) reveal that while the number of cases of fraud and dishonesty uncovered almost halved (from […]
A recent Appeal Board decision contained a number of interesting comments regarding the withdrawal of a licence and debarment of a FSP. Background The appellant’s licence was withdrawn as a result of non-payment […]
The late publication of draft regulations for Tax Free Savings Accounts (TFSAs) on the National Treasury’s website means that there are only 10 days left for comment from the industry, according to Pam […]
Last night’s victory over the team we most love to beat will be remembered for a long time. We did not really expect any great cricket in the series, but yesterday’s match was […]
This document, published on 9 September proposes to: Set out the final reforms on how to best achieve the objectives of insurance supervision, i.e. to promote the maintenance of a fair, safe and […]
The Financial Intelligence Centre published PCC36 which provides clarity on the obligations of accountable institutions and other persons assisting clients in making use of the 2016 Special Voluntary Disclosure Programme (2016 SVDP) which […]
A number of advisers have expressed concern that they may be held liable for unsatisfactory investment returns. This is understandable, given the wide interpretation that can be attached to the “due care and […]
As jy nie sterk is nie, moet jy slim wees, sê ons in Afrikaans. In die Aussie weergawe hiervan moet jy “slim” met “slinks” vervang. Die Aussie breier se nuutjie, om sy plaasvervangerbank […]
Your client advises that she has just bought a new car and wishes to insure it. Her current vehicle is to be sold, but she would like to keep it covered on her […]
The concern that the Medical Schemes Council (MSC) has with certain types of health insurance, stems from the underlying principles of specifically “Hospital” insurance. A recent article by Dr Bobby Ramasia, Principal Officer […]
The basis of mutual trust, which is a cardinal principle of insurance and assurance, also applied to the relationship between financial services product providers and the regulatory authorities up to the end of […]
In February 2015, the Minister of Finance declared hedge funds as collective investment schemes with effect from 1 April 2015. All South African hedge fund operators were required to apply for registration in accordance with […]
The Appeal Board recently ruled on a determination by the FAIS Ombud on a complaint regarding an investment in the ill-fated Bluezone property syndication. Last week we commented on the observation by the […]
Enquiries indicate that many FSPs do not share important information like this with all their staff. Below is a summary and a link to the full document. Electronic submission of Handover Compliance Reports […]
The Ombud made a determination on 30 March 2012, holding the appellants liable for the repayment of the amount invested. An appeal was upheld by the Appeal Board on 26 February 2014. In terms of the order, […]
