SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
Please note that the Cat II, IIA and III reports (Published during May 2016) have been amended. “Note that FAIS Notice 51 of 2016 has been repealed and replaced with FAIS Notice 84 of 2016 and FAIS Notice 52 of 2016 has been repealed and replaced with […]
The Board was recently tasked with reviewing a decision by the Registrar to debar Ms LA Teixeira for 5 years and to withdraw the authorisation of her business. The grounds for the Registrar’s […]
A reader enquired as follows last week: Have you heard anything about the Defencex claim’s second phase? The input area for this claim is inactive. In response, I contacted Hanna Ziady at Moneyweb […]
To rephrase the Bard, this should not really be the question – there is a better option. Representatives appointed in the second half of 2013, and the first half of 2014, and who […]
This complaint was originally dismissed by the FAIS Ombud on the basis that there was no reasonable prospect of success. The client reverted to the Board of Appeal who ruled that the Ombud’s […]
Finally the penny dropped – the senior Proteas are so exhausted by the time they get around to playing for their country that they cannot perform. Or, should I say, someone finally had […]
The competency requirements under FAIS are often misunderstood, leading to many people stressing unnecessarily. Prior to 2010, transitional arrangements were in place which allowed for “FAIS Credits” to be obtained which would exempt […]
A recent ruling by the FAIS Ombud sheds light on the right of a client to approach the FSB Appeal Board if dissatisfied with a decision by the Ombud. In the Harten determination, […]
FAIS Circular 20 contains a reminder to FSPs regarding what changes in the FSP need to be conveyed to the Registrar within 15 days. Section 8(10)(a)(ii) of the FAIS Act states: “Where a […]
People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]
This has always been an important component of business, even before Simon & Garfunkel turned the phrase into a hit song. A recent article on customer views of short-term insurers, led me to […]
My Saturday was one filled with rugby – The All Black v Wales game was a fantastic affair and up to the 53rd minute a Wales win looked possible. But as only the […]
A recent article on the Health24 website had me reaching for heart pills I do not have. Discovery Health CEO, Dr Jonathan Broomberg, revealed that his company recovered R400 million on behalf of its […]
A recent Appeal Board case underlines the importance of full and frank disclosure during the licence application process. In the original determination, the FSP and its two members, Ms S and Ms C […]
The Financial Planning Institute (FPI) of Southern Africa hosted its annual Awards Ceremony Gala Dinner on Monday night, where it recognised leaders in the financial planning profession for their outstanding level of professionalism […]
The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit […]
People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]
