Your Voice: Commission on Healthcare Products
In 2000, the authorities governing our industry placed restrictions on medical aid fees. It was 3% with a cap of R50. Some 14 years later the cap is R69 (last I looked). I […]
Beefed-up SARS might stave off R20bn in tax increases in 2026
An inflation-linked rise in the general fuel levy will in no way be sufficient to plug the revenue hole left by scrapping the two VAT increases.
WAM BAM RAM SLAM
RAM SLAM News The Warriors and the Lions drew in an epic match at Buffalo Park on Sunday. The defending Champions, the Lions, are yet to win their first match in this year’s […]
Africa – Economic freedom is improving in SSA
The Heritage Foundation and Wall Street Journal released the 2014 version of the Index of Economic Freedom on January 14. Globally, this measure of economic freedom is improving, with the global average freedom […]
Important Qualification Requirements
The regulatory examinations took precedence for most people in the industry, and may have averted the focus from the qualification requirement, particularly in the case of representatives working under supervision. Industry demands for […]
Fraudulent Insurance Claim Backfires Badly
A fairly humorous article on a serious topic recently appeared in the Natal Mercury. The following synopsis was published in Legalbrief Today: A fraudulent insurance claim for R4 500 for a water-damaged cellphone […]
Sport Snippets
As we wait for the big guns of rugby and cricket to get back in the arena, we look at some other news from around the globe. Bafana Hanging On South Africans always […]
Proposed Advertisement Guidelines
We publish below extracts from a document recently published by the Regulator aimed at regulating “advertisements, brochures and similar communications”. A Draft Information Letter, providing guidance to long-term and short-term insurers on the […]
FSB Reaction to Excessive Charges on Endowments
Last year, we published an article titled Charges in Respect of Investment Policies. I referred the matter to the FSB for comment, particularly in view of the following opinions expressed by the Long-term […]
Final RE date for Reps Working Under Supervision
An important amendment to the conditions applicable to representatives working under supervision was announced in Board Notice 260 of 2013, published on 19 December 2013. Readers may recall that there was some uncertainty […]
Training News
A number of important documents were placed on the FSB website on Friday. Two of these are of particular importance to those involved in training, as well as those who are subject to […]
Sport Shorts
Bafana Bafana Rebounds Our national soccer side was possibly so confident before the match that they appeared more interested in the beautiful surroundings than their opponents. After allowing Mozambique to score a shocker […]
Zimbabwe – Running short on food and cash
The Zimbabwean economy is starting the year off with a shortage of staple food and paper money on top of its long-standing challenges. On the one hand, people in rural areas need to […]
RE Exams Pass Rates
Seldom has one seen such disparate views on a matter of national interest as those expressed on the 2013 matric results. While the government sang its own praises based on statistical improvements, concerns […]
On-Line Access to RE Status
In December, the FSB announced an on-line facility which allows FSPs to verify the RE status of Key individuals and Representatives. The circular provides step-by-step guidelines on how to access the information pertaining […]
Penalties for late submissions
The FSB’s FAIS Newsletter 16 was published on 13 December 2013. The second article states that a decision was taken to implement punitive measures available to the Regulator when FSPs fail to submit […]
Yes Nine a No-No
One of last season’s new rugby rules was recently scrapped, partly as a result of the potential danger to the offensive team’s number 2. Thanks to Alex Bax for his valued input on […]
Implementing the Twin Peaks model of Financial Regulation
The Financial Sector Regulation Bill, referred to in the article above, provides important information on the way forward as far as regulating the financial world is concerned. The shift from the current status […]
