The FSCA’s latest action highlights the regulatory risks for individuals who may have been linked to the BHI Trust scheme.
The government proposes to amend regulations concerning deductions from social assistance grants by making an affordability assessment a prerequisite to entering into any agreement to provide funeral cover to the beneficiary of a […]
Failure to conduct a proper due diligence procedure is often used by the FAIS Ombud to find against financial advisers. Advisers involved in property syndications and Ponzi schemes, in particular, often felt the […]
In response to media speculation about possible reasons for the delay in the publication of its 2015 Annual Report, the Regulator published the following press release: The Public Finance Management Act (PFMA) requires […]
In a media release by the Association for Savings and Investment South Africa (ASISA) on 10 February 2016, it announced details of a new “meaningful” basis to allow consumers and advisers to compare charges and […]
Those who remember the good old days of Chappies bubblegum might like to chew on these extracts from an interesting document published on the FSB website: There is no legal distinction between the […]
In a determination dated 18 December 2015, the Ombud ordered the Respondents to pay R273 715 to a complainant for “…failure by the financial services provider to update the sum insured under the business […]
The result of Tuesday night’s match, and the way the team played, came as a huge relief to anxious fans who were becoming rather despondent after the euphoria of the success in the […]
Legalbrief Today reported on Thursday on the National Treasury’s response to criticism that certain aspects of the proposed amendments to the Financial Intelligence Centre Act are impractical and too onerous. Quoting from a […]
The financial services industry faces massive changes which need to be managed very carefully to avoid disruptions which it may never recover from. The South African Chamber of Commerce and Industry (SACCI) recently […]
The latest Enforcement Committee (EC) ruling is quite an interesting one. There is often a fine line between what constitutes a financial service and what not. Defensive Legal Protection CC, trading as Legal […]
It is often said “parents know best” – but when parents become embroiled in litigation against each other and children are involved, it can become very difficult for them to set their own […]
Wicked Cricket It is with a huge sense of relief that I notice that rugby matters are slowly but surely pushing cricket articles for space in the daily newspapers. The final straw that […]
There appears to be two kinds of respondents involved in FAIS Ombud determinations: those who attempt to defend themselves, and those who follow a strategy akin to the Lindesfarne song from which the […]
Some sweeping changes will take effect from 1 March 2016. The Taxation Laws Amendment Act No. 25 of 2015 that was published in Government Gazette No. 39588 on 8 January 2016 confirms the changes to the tax […]
Despite claims from the England side that they would be fully motivated for the final test at Centurion, it soon became evident that the extra edge they displayed in the first three tests […]
Candidates are required to successfully complete the applicable level 1 Regulatory Exam by 30 June after expiry of 24 months from the date of first appointment as representative. In practical terms, this means that those […]
The Council for Medical Schemes announced a 9.6% increase in the maximum commission payable to registered healthcare brokers. This puts them on par with government employees who also receive increases way above the […]
