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 […]
BHI Trust fallout widens as FSCA bans intermediary for 20 years
The FSCA’s latest action highlights the regulatory risks for individuals who may have been linked to the BHI Trust scheme.
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 […]
Allister Coetzee and the ex-pats
My mind goes back to January 2012, when Heyneke Meyer was appointed Springbok coach. For many, his appointment was seen as vindication of a process which saw him purportedly robbed of the position […]
Regulatory Examination Certificate Fraud
FAIS Newsletter 20 contains a warning for those who think that falsifying a RE certificate is the easy route into the industry or complying with fit and proper requirements: The FSB encountered numerous […]
Bulk transfers by FSPs and Insurers
This is the title of an article in the FSB’s FAIS Newsletter 20, which also addresses the shortcomings mentioned at the conclusion of the article above. In instances where the transfer of clients resulted […]
FAIS Ombud Dismisses Complaint
No need to check the calendar – it’s not 1 April. On 25 October 2012, the complainant entered into a contract of insurance for comprehensive cover in respect of a vehicle. The insurer was […]
Wealth Management Training – NQF 4 & 5 qualifications
Align your training and development needs with the Regulator’s drive towards professionalization by making use of the services listed below. Just click on the title for more information. HIGHER CERTIFICATE IN WEALTH MANAGEMENT […]
FSB Public Warnings
The Regulator recently issued three warnings to the public via media releases: Eastern Cape Tracing Agents “A certain Mr Matshaya is operating as a tracing agent in the Mdantsane area in the Eastern […]
Calculating Investor Relief
We are seeing a substantial increase in the number of Sharemax related determinations from the FAIS Ombud. Most of these relate to complaints lodged in 2010 in the wake of the collapse of […]
