The Bill proposes that arrangements yielding outcomes similar to traditional financial products be treated as financial services.
The FSB is still grappling to find an equitable solution to the ideal adviser categorisation model. It seems to have moved away from the original thinking which provided for three categories. In particular, […]
The Financial Services Board cautioned the public against dealing with two unauthorised entities using fake FSB certificates. Millenniums Financial Services CC is not authorised in terms of the Financial Advisory and Intermediary Services […]
It appears that there is still uncertainty about who is required to register with the Financial Intelligence Centre. PCC05A, which came into effect on 30 March 2016, provides additional clarity on the position of financial […]
A special voluntary disclosure programme (VDP) was proposed in the 2016 Budget to make it easier for non-compliant individuals and firms to disclose assets held and income earned offshore. As was noted in […]
The importance of conveying material terms to a client was stressed in numerous previous articles. Without the help of a reliable crystal ball it is often a challenge for an adviser to determine […]
There is no doubt in my mind that there is no better person for the job than Alistair. His track record is impeccable, and he has all the attributes required for one of […]
“Recently one of my employees posted a number of defamatory comments via her various social media platforms regarding some of her colleagues. I have already addressed the matter with her individually, but would […]
The Council for Medical Schemes (CMS) carried out an analysis on the utilisation data of health services during the calendar years 2013 and 2014, based on the data provided by medical schemes through […]
A FSP appealed, in terms of sec 39 of the FAIS Act, against a decision by the FSB, dated 15 December 2014, to withdraw its authorisation as a FSP. The decision was based on the […]
In response to the demand for an affordable and easily accessible platform for those who are required to undergo training on the National Credit Act, Moonstone Business School of Excellence developed two options. […]
On 23 February 2016, the Appeal Board received a request for postponement of a hearing scheduled for the following day. The appellant and his attorney submitted medical certificates confirming that they had both undergone surgery […]
A penalty of R2 million was imposed on Abangcwabi Myendeki Funeral Parlour CC for contravening sections 7(1) and 8(3) of the Long-term Insurance Act, No. 52 of 1998 (the Act). “The recommended penalty was […]
There is more to conveying changes in material terms to clients than simply dropping them a note to that effect. The Khoza determination by the FAIS Ombud provides guidelines in this regard. The […]
Justus van Pletzen, CEO at the Financial Intermediaries Association of Southern Africa (FIA), provided a much needed perspective on the issue of the impact of broker commission on the cost of private healthcare. […]
Allan Gray has reduced the annual administration fee on its local platform for investments over R5 million, and on its offshore platform for investments over US$400 000 (or foreign currency equivalent). Effective immediately, for all […]
The recent Cornelissen determination by the FAIS Ombud provided insight into a number of very interesting aspects not previously covered in her determinations. The eventual finding is also something new for us. Overcharging […]
Cricinfo writes: How did it come to this? After 39.3 overs of a pulsating contest in Bangalore, Bangladesh seemed to have a first ever T20 victory against India in their grasp. Two runs […]
