Wonga Bungle
The FSB will take on added responsibilities once “Twin Peaks” is enacted, including regulating the banking industry. It is therefore interesting to note what happened in the UK since 1 April 2013, when the Financial […]
COFI countdown: FSPs urged to prepare with the precision of a World Cup coach
Compliance expert Anton Swanepoel says financial services providers must adopt a winning mindset, strategy, and tech-driven approach.
Sink or Swim
Handré Pollard’s inclusion as the Springbok pivot is undoubtedly the main talking point around the braai fire. Braam van Straaten reckons he has the potential to be the best ever fly half in […]
Work Your Plan
The huge spike in registrations of candidates for the final date of 30 June 2014 merely confirms the tendency to leave writing the REs to the last minute. It is almost as if some people […]
A Close Shave
By a Whisker The biggest plus to come out of Saturday’s nail-biter is that the Springboks came back twice in one match from a hopeless situation and eventually managed to win by one […]
Incentive Driven Miss-Selling
The practice of incentivising independent financial advisors (IFAs) to shift their investment and risk books is possibly the single biggest driver of churning, and is likely to be addressed as part of the […]
Malawi – Mutharika rewards ‘coup plotters’ with Cabinet posts
After a two-week delay, Malawi’s new president, Peter Mutharika, has finally named half of a proposed 20-member cabinet. In the process, the new president has raised a few eyebrows over his commitment to […]
Exemption to Submit Audited Financial Statements
Certain FSPs received a request from the FSB for additional information regarding their financial statements which, for most FSPs, are due by the end of this month. Category I FSPs who are registered […]
Duty to Disclose Material Terms
On Tuesday we discussed what happens when material changes occur in a client’s health between the time of applying for life cover and acceptance of the risk by the insurer. My colleague Julian […]
Boys will be men
When the junior Springboks take on the pride of England, it will not be child’s play. There is some serious bulk on display in both sides. The big test will not be height […]
When does cover commence?
The latest newsletter from the Long-term Ombud contains two cases where claims were repudiated as a result of a health condition manifesting between the date of application and acceptance of the risk. Non-disclosure […]
Validity of Trusts Questioned
A recent article in Moneyweb states that the validity of more than 85% of trusts on which legal audits have been conducted, can be questioned. Prof Willie van der Westhuizen, head of trust […]
We have seen the Future
While all SA rugby fans are justifiably ecstatic about the senior team’s performance against Wales, the junior Boks made me immensely proud on Sunday. Winning against a determined Baby Blacks side was wonderful, […]
Namibia – Trade deficit narrower, economic growth lower
The Namibia Statistics Agency (NSA) released its latest monthly Trade Statistics Bulletin on June 12. The NSA recorded a trade deficit of N$2.179bn for the month of April, reflecting a decrease of 46.8% […]
Updated Preparation Material
The updated Juta Pocket Statutes edition of the FAIS Act is now available. LexisNexis also updated their Legislation Handbook and Preparation Guide for the RE 1 and RE5 exams. Queries about the latter […]
Short-Term Ombud Annual Report
There can be little doubt that there is a steady increase in the efficiency of this champion for the fair treatment of consumers. The figures listed below come directly from the Ombud’s report: […]
Governance of Ombud Schemes
The Short-term Ombudsman’s 2013 annual report contains an interesting perspective on regulation of the various Ombud schemes. The Financial Sector Regulation Bill originally proposed a so-called single Ombudsman’s structure. This envisaged that all […]
Die een se dood…
Daar was lanklaas soveel bespreking en bespiegeling na Frans Steyn se onttrekking aan die Springbokspan. Die ouer garde brom dat hy dislojaal is teenoor die land, terwyl die jonger garde voel dis ‘n […]
