FIC Compliance Contact Centre
The Financial Intelligence Centre (FIC) has established a Compliance Contact Centre to deal with queries related to compliance with the Financial Intelligence Centre Act, No. 38 of 2001, as amended (FIC Act). A […]
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
Read moreOh to be, a referee
We spoke a lot about referees this past year. I thought it fitting to let them have the last say. They always do anyway, do they not? This is a story by one […]
Avoid Losing your Licence!
On 5 December, the first “Notification of Intention to Suspend Authorisation” (NISA) letters were sent to those people who, according to the FSB’s information, failed to write the required regulatory exams at least […]
FSB Acts Against RE Dodgers
The title of this article reminds me of a Dickens character. From immediate reactions we received, it appears that not all those who missed the June deadline are artful dodgers. Some simply expected […]
Illegal Inducements Update
The FSB contacted us, following last week’s article entitled What’s Sauce for the Goose to get more information about the correspondence between a broker and their own consultant. We used the opportunity to […]
Sny drank uit
Beste Paul Na aanleiding van jou onlangse versoek dat ons jou van interessante gebeure en hoogtepunte in 2012 vertel. Wel, my hoogtepunt is dat my gesondheid hierdie jaar baie verbeter het. Soos die […]
Bobby’s Boys
In my opinion, this is South Africa’s best 5-day test XI since readmission. Please note that I did not consider persons with less than 40 test matches. The balance of the side is: […]
Inseta Network
A constant refrain in comments from readers is the number of service providers who, in their opinion, jumped on the band wagon to make money out of advisors. Here is an opportunity for […]
Wouldn’t it be nice if:
there were no suspicions or clouds around our President and he was seen as a totally honest, humble guy who lived in accommodation that most people found surprisingly modest; South African drivers realised […]
Prohibition of Inducements
The article we published last week certainly elicited wide reaction. What does the Act say? Section 44 on “Prohibition on inducements” reads: No person shall provide, or offer to provide, directly or indirectly, […]
Valid and Reliable Risk Tolerance Questionnaires
The introduction of the FAIS Act changed the rules of the game as far as programmes used to determine client needs, are concerned. Perhaps it is more accurate to say that it should […]
Australia conquered… again!
Deservedly the Proteas reaffirmed their position as the best test side in the world with an outstanding display in the third and final test. We all were a bit disappointed after the first […]
Afrikaanse Engels
We received a few responses to our invitation to share typical Afrikaans words that makes it such a unique language. What about “ja-nee”? Afrikaans is the most wonderful descriptive language – we cannot […]
Cash Management System Accounts
These accounts, according to the circular, are predominantly provided by Investec and Nedbank. The CMS Account is similar to a trust account maintained by professionals for the purpose of holding money on behalf […]
Sauce for the Goose…
The issue of inducements to effect insurance, which we discussed in Monday’s newsletter, is fast becoming a very hot topic, and it does not only relate to short-term products. One of our regular […]
Moving a Book?
The latest determination by the FAIS Ombud is a good example of why it is so necessary to make sure that you inform your client of any material changes to an existing product. […]
