Omnibus AML/CFT Bill also gets the nod for tabling.
The families of South Africa’s 14 million income earners face a combined insurance shortfall of R28.8 trillion should these breadwinners die or become disabled. This amounts to an insurance gap – the difference between […]
A recent decision by the Enforcement Committee (EC) again raised questions about penalties meted out to transgressors. Pieter and Samantha de Wet, trading illegally as Petite Models CC, were each fined R75 000 for […]
SuiteBox, the mobile office solution for professionals, launched in South Africa in partnership with Moonstone Information Refinery to provide sales, marketing and frontline services. In addition, Moonstone acquired a 10% equity shareholding in […]
Two recent articles elicited a number of interesting questions from readers. Alan Holton’s thought provoking article, “Representatives also at risk” investigated what could happen if an employer FSP is no longer registered at […]
As you know, we won the toss and elected to bat and so far the Perth wicket is not disappointing. The bounce and seem movement have the batters in a bit of a […]
Candidates are reminded that future changes to the laws and regulations governing financial services will affect the question database used for the Regulatory Exams. Once legislation is passed, changes and additions are made […]
On Friday, 28 October 2016, the FSB published a five page document to inform policyholders of the liquidated insurer and how this will affect them. Whilst most of the questions and answers deal […]
On Friday, 28 October 2016, draft Demarcation Regulations were published on which types of contracts are regulated under the LTIA and STIA as health policies and accident and health policies, and accordingly excluded […]
Protea Captaincy The inevitable withdrawal of our world class cricketer, AB de Villiers, due to injury following his sustained presence in all formats in the game, may be a blessing in disguise. We […]
Product knowledge requirements via the level 2 Regulatory Examinations and CPD requirements were originally introduced in Board Notice 106 of 2008. Subsequent to the effective date of these requirements, the Registrar granted general […]
The Wikipedia definition reads: In Australia, New Zealand, and South Africa, the silly season has come to refer to the Christmas/New Year festive period on account of the higher than usual number of […]
In a recent Ombud Determination (JJ & GH Carstens and Paarl Financial Advisors CC & JA Bartman) dated 12th October 2016, the Ombud made reference to the Appeal Board determination in the first (2013) appeal […]
The Registrar of Short-term Insurance’s application to place SaXum Insurance Limited under final liquidation, was granted. The Court ordered that SaXum be placed under liquidation for final winding-up in the hands of the […]
Section 3A of the General Code of Conduct came into operation on 4 December 2014. It decreed that “… No person may offer or provide a sign-on bonus to any person, other than a new […]
The Registrar of Financial Services Providers intends to repeal the current regulations and determining new fit and proper requirements for financial services providers, key individuals and representatives. The proposed amendments, previously published on […]
Should the FSB’s application be upheld, and this order is granted and made final, it will effectively mean that that any policyholder with a current claim will become a concurrent creditor of the […]
It is interesting to note that an insurer’s failure to provide for a key exclusionary clause resulted in payment of a claim it initially rejected. The most recent Short Term Ombudsman Briefcase contains […]
