A weekend to forget
Not so long ago, in October 2015 to be specific, there was a very quirky joke going around… Little known fact There is a Playoff for 5th Place at the Rugby World Cup […]
Deepfake profits and ‘overwhelming’ illegality: Banxso liquidated
The High Court finds Banxso knowingly benefited from deepfake adverts, misled clients about its licence and returns, and is ‘hopelessly insolvent’.
2012 Liquidity Exemption falls away
The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund. […]
POPI and the General Code of Conduct
An article in FAIS Newsletter 20 titled Bulk transfers by FSPs and Insurers contains a section under the sub-heading: Protection of Personal Information Act: Furthermore the FSPs are required to comply with Protection […]
2016 FIA Awards
The prestigious 2016 FIA Awards gala dinner took place on Thursday, 2 June 2016, and was attended by over 1 000 industry members. The awards go to the insurance, underwriting and investment brands that provide the […]
Financial Statements
Please remember that, if your financial year ended on 29 February, you are required to submit your annual return to the FSB before the end of June. Every year, hundreds of FSPs neglect to […]
FAIS Ombud Complaints Dismissals
Three recent determinations by the FAIS Ombud varied from what one has become accustomed to over the years. Cornelissen The Cornelissen case, which hinged around a dispute regarding the calculation of costs, concluded […]
Tougher than the rest
Tune in to Boss Radio as you read this week’s sport and sports column. The title of this Bruce Springsteen song came to mind this morning when I was reading the sports pages […]
Right to Privacy on Social Media
“My business partner managed to get hold of my Facebook password without my knowledge. I’m unhappy with the running of the business and have been talking to clients on Facebook about moving to […]
Ponzis and Pyramids Explained
Most financial advisers do not have a wealth of sympathy with clients who allow greed to cloud their judgment when a scheme which sounds “too good to be true” becomes available. In the […]
DOFA Do’s and Do Nots
Vetting the date of first appointment of applicants and appointees is an important part of compliance. FAIS Newsletter 20, published on 19 May 2016, contains a number of pointers to make life easier […]
Competency Framework Review
The determination of Fit and Proper requirements, published in 2008, referred to four competency requirements: Experience Qualifications Regulatory Exams (Level 1 FAIS Legislation and Level 2 Product knowledge) Continuous Professional Development (CPD) The first two, […]
Plaaslike Rugby Verwikkelinge
‘n Interessante artikel rakende Rugby vennootskappe soos berig in Netwerk 24: ’n Vennootskap ter wille van oorlewing in ’n ál moeiliker finansiële omgewing. Dít is waarop die Bulle se nuwe Superrugby-vennootskap met die […]
Who nominates the transferring attorney?
“I’m buying my first property. I’m quite nervous about everything and a friend of mine who is a conveyancer said she would help me with the transaction. However the seller is refusing and […]
Provident Fund Annuitisation Legislation
National Treasury has confirmed that the 2016 Revenue Laws Amendment Act, promulgated on 20 May 2016, qualifies provident fund members for a tax deduction on their own contributions ‘without being required to annuitise […]
Long-term Ombud Performance Review
Judge Leona Theron, a judge of the Supreme Court of Appeal and Chairperson of the Long-term Ombudsman Council, made mention in the 2015 annual report of an independent review of the office of […]
Long-term Ombud Annual Report 2015
The office of the Ombudsman for Long-term Insurance (OLTI) needs to be commended for the quality and simplicity of its 2015 annual report. Below are some interesting extracts from the report. General overview […]
