Lack of TCF seen as Aggravating Factor
The latest settlement agreement, between the Registrar and New National Assurance Company Limited, contains an interesting new slant to what we have become used to. The Registrar was of the opinion that the […]
Treasury’s proposed unclaimed-assets model revives central fund debate
The framework separates administration from custody and investment and introduces a possible time limit on owners’ and beneficiaries’ claims.
Regulatory update on Short term matters
The FSB FAIS Conference earlier this month provided the latest thinking on a number of important aspects related to the short-term industry. Binders and outsourcing Leanne Jackson pointed out that a significant risk […]
Call for Caution on Regulatory Interventions
On 27th of March we published an extract from the ASISA Dispatches to give readers a perspective on the multitude of legislative changes currently underway in the financial services environment. On Tuesday, the Financial […]
SA expats unite against proposed tax changes
Kirsten Hastings, writing for International Adviser notes that Expats working overseas have formed a Facebook group to stay abreast of developments on Treasury’s investigation into possibly taxing them. South Africans working in countries […]
CIS STATISTICS FOR 2016
The annual local Collective Investment Schemes (CIS) industry statistics for 2016 were released in February. The statistics show that the industry enjoyed strong growth in 2016, attracting net inflows of R166 billion and pushing […]
Legislative Avalanche Warning
If you have just returned from a visit to Mars, you may want to take cognisance of some of the legislative changes that are currently taking place. It is a daunting task just […]
Technology and Disintermediation
A recent article in Insurance Gateway® titled Thematic considerations for the future of the insurance industry by Rahima Cassim, Fund Manager at Ashburton Investments, contains some interesting thoughts on where the industry is […]
Register for fake qualifications proposed
Dankie Frans Petrus Zeelie van Moonstone Business School of Excellence vir die aanstuur hiervan. Chantall Presence writes in Business Report that steps are being taken to name and shame holders of bogus qualifications. […]
Fees Due and Financial Soundness Calculation
Ken’s question Thank you for the article regarding financial soundness. Are fees/commissions due, but not yet received, construed as an asset? As you know, most institutions pay during the month following the receipt […]
FSB’s Core Focus for Transition to FSCA
Below is a summary of a recent article by Advocate Dube Tshidi, Executive Officer at the FSB, which was published in Insurance Gateway. When the FSB becomes the Financial Services Conduct Authority (FSCA), […]
Breathing space for Medical Insurers
Demarcation Regulations, published on 23 December 2016, determined that certain insurance policies that have elements of a business of a medical scheme shall be ‘health policies’, and ‘accident and health policies’ respectively. The ‘health policies’, […]
Compassion not an alternative to Compliance
The latest ruling by the Appeal Board reaffirms the fact that there really is no alternative, harsh as it may sound. The appellant appealed against the withdrawal of his licence by the Registrar. […]
Big data: What’s the big deal?
They say big data is here to stay and yet, globally, many organisations have no clue what it means or how to use it. Like confidence, big data can mean different things to […]
Financial Soundness – at all times
At a recent meeting between senior officials of the FAIS Division of the FSB and a committee of industry members, Ms Lorraine van Deventer expressed the concern that many FSPs still do not fully […]
CMS Training
The Council of Medical Schemes will be running the following training from April onwards. Accredited skills programs Induction broker training Trustee induction training and Advanced broker training Each of the above has its […]
Work smarter and harder
The Afrikaans idiom, “Van uitstel kom afstel” probably rings more true than the English equivalent: “Procrastination is the thief of time” as far as the financial services industry is concerned. Failing to adapt […]
Sharemax Investigation Reopened?
Sharemax and the media never had a cosy relationship. In the early days, Deon Basson published a number of articles in which he asked searching questions which eventually led to legal action by […]
