Legislative Avalanche Warning
If you have just returned from a visit to Mars, you may want to take cognisance of some of the legislative changes that are currently taking place. It is a daunting task just […]
RAF faces claims surge if form falls
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.
Technology and Disintermediation
A recent article in Insurance Gateway® titled Thematic considerations for the future of the insurance industry by Rahima Cassim, Fund Manager at Ashburton Investments, contains some interesting thoughts on where the industry is […]
Register for fake qualifications proposed
Dankie Frans Petrus Zeelie van Moonstone Business School of Excellence vir die aanstuur hiervan. Chantall Presence writes in Business Report that steps are being taken to name and shame holders of bogus qualifications. […]
Fees Due and Financial Soundness Calculation
Ken’s question Thank you for the article regarding financial soundness. Are fees/commissions due, but not yet received, construed as an asset? As you know, most institutions pay during the month following the receipt […]
FSB’s Core Focus for Transition to FSCA
Below is a summary of a recent article by Advocate Dube Tshidi, Executive Officer at the FSB, which was published in Insurance Gateway. When the FSB becomes the Financial Services Conduct Authority (FSCA), […]
Breathing space for Medical Insurers
Demarcation Regulations, published on 23 December 2016, determined that certain insurance policies that have elements of a business of a medical scheme shall be ‘health policies’, and ‘accident and health policies’ respectively. The ‘health policies’, […]
Compassion not an alternative to Compliance
The latest ruling by the Appeal Board reaffirms the fact that there really is no alternative, harsh as it may sound. The appellant appealed against the withdrawal of his licence by the Registrar. […]
Big data: What’s the big deal?
They say big data is here to stay and yet, globally, many organisations have no clue what it means or how to use it. Like confidence, big data can mean different things to […]
Financial Soundness – at all times
At a recent meeting between senior officials of the FAIS Division of the FSB and a committee of industry members, Ms Lorraine van Deventer expressed the concern that many FSPs still do not fully […]
CMS Training
The Council of Medical Schemes will be running the following training from April onwards. Accredited skills programs Induction broker training Trustee induction training and Advanced broker training Each of the above has its […]
Work smarter and harder
The Afrikaans idiom, “Van uitstel kom afstel” probably rings more true than the English equivalent: “Procrastination is the thief of time” as far as the financial services industry is concerned. Failing to adapt […]
Sharemax Investigation Reopened?
Sharemax and the media never had a cosy relationship. In the early days, Deon Basson published a number of articles in which he asked searching questions which eventually led to legal action by […]
RDR in Perspective
I was fortunate to attend a recent presentation on this topic by Billy Seyffert, COO of Moonstone Compliance. Many see the Retail Distribution Review as the beginning of the end. In a way, […]
Organisational Redesign in the Fourth Industrial Revolution
I must admit that there are times when I really regret having taking it upon myself to change the content of this blog from sport and sports to technology. Most of the stuff […]
FSB Training intervention for Category I FSPs
The FAIS Supervision Department conducted a training intervention in 2014 for Category I FSPs who are not obliged to employ the services of a compliance officer. This continued during 2015 and 2016. During 2014 […]
FAIS Newsletter Volume 23
As usual, this newsletter contains important information for FSPs. The FAIS online reporting system will in future be known as the FAIS ePortal and the FAIS new license application system as the FAIS […]
Illegal Incentives in the Motor Industry
Finance and Insurance Managers (“F&I managers”) in motor dealerships are registered representatives of financial service providers (FSPs), and as such they are bound by the provisions of the FAIS Legislation. The Registrar is […]
