Referrals and Leads Generation
Clarity on the regulation of this important aspect of the financial services industry is provided in proposals in the Retail Distribution Review (RDR). Where a referral involves the mere passing on of contact […]
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
Make Your Voice Heard
The rapidly changing financial advisory market necessitates the opportunity for investment advisers to voice their views on a meaningful platform. The South African Investment Panorama is a new research project to enable independent […]
FSB Discusses Twin Peaks Reforms
Industry stakeholders recently attended a two-day workshop on the implementation of the Twin Peaks model of financial regulation, which will see the FSB become a dedicated market conduct regulator with an enhanced mandate […]
Key Individual Liability
A recent order by the FSB’s Appeal Board highlighted the importance of applying the prescribed methodology where representatives under supervision are concerned. A representative under supervision, Moore, claimed that the directors of Blue […]
Correct Identification Important
Candidates are requested to read the information supplied prior to the examinations very carefully. Of late, we have experienced an increase in candidates who arrive without proper identification. Please bear in mind that […]
Sharemax Directors Appeal Ombud Determination
On 31 March 2015, Julius Cobbett reported on an appeal case currently being heard by the FSB Appeal Board in Pretoria. The directors of Sharemax are appealing against a FAIS Ombud determination in […]
Whose client is it anyway?
A reader writes: I refer to comments made by Dr. Brian Benfield in an article you recently posted, and particularly to the following: A clear understanding and application of the law of contract, […]
New FSB Fees
The new fees payable to the Registrar of Financial Services were announced on 25 March 2015. A few noteworthy changes are: Item Current Fee (R) New Fee (R) Category I Application 2180 2311 […]
Make Your Voice Heard
The rapidly changing financial advisory market necessitates the opportunity for investment advisers to voice their views on a meaningful platform. The South African Investment Panorama is a new research project to enable independent […]
FSB Acts Swiftly on Allegations
The following FSB media release clarifies its stance regarding speculation in the press about a South African involvement in an alleged Ponzi scheme said to be run from Mauritius: Following media articles regarding […]
How to register for your level 1 exam
To register for the Key Individual Exam, RE 1, or the Representative Exam, RE 5, you will need your ID or passport number, date of birth, FSP number as well as personal, contact and professional […]
Complaints and Compensation for Clients
Alan Holton of Compliance Monitoring Services writes: I read the comments in your “Moonstone Investment Indicators” of the 23rd March (LT Ombud Makes Compensation Rulings) regarding the principles that lie behind awards made […]
Plans to Consolidate Ombud Schemes
The Financial Services Regulation (FSR) Bill includes a review of the various ombud schemes currently active in the industry. The information below was extracted from the discussion document titled “An Integrated Ombud System”. […]
A Proud Day for South African Cricket
Graeme Smith’s blog on the ICC website may seem a tad harsh, but if we want to be honest with ourselves, it makes a lot of clinical sense: In my previous column I […]
How to register for your level 1 exam
To register for the Key Individual Exam, RE 1, or the Representative Exam, RE 5, you will need your ID or passport number, date of birth, FSP number as well as personal, contact and professional […]
Latest on NHI White Paper
The information below was printed in Legalbrief Today last week. The National Health Insurance (NHI) White Paper and a draft financing paper are expected to begin the process of being scrutinised by Cabinet […]
LT Ombud Makes Compensation Rulings
The March 2015 edition of the Long-term Ombud’s newsletter, Ombuzz, contains information which should give heart to those who experience unsatisfactory service from product providers. Too often, such service reflects poorly on the […]
