The Prudential Authority has withdrawn its liquidation bid after progress on depositor repayments, but Ithala is still unlicensed and cannot resume deposit-taking.
An appellant received an early Christmas box on 24 December when he appealed successfully against a five year debarment for failing to meet the personal character qualities of honesty and integrity. The FSB debarred […]
The ticking time bomb which threatened since the departure of stalwarts like Smith, Kallis and Boucher finally exploded. Losing our number one spot in the world rankings came as no surprise. My colleague, […]
The following topics will be discussed in more detail: The impact of the Financial Sector Regulation Bill on your business The FSR (Twin Peaks) Bill will change your regulatory landscape and your Regulator. […]
The review focused on 4 main areas: Compliance of binder agreements with regulatory requirements Governance and oversight of binder arrangements Reporting systems and access to information; and Binder fees paid to non-mandated intermediaries […]
The Buthelezi determination by the FAIS Ombud, signed on 12 January 2016, highlights again the need for accurate record keeping and the dangers inherent in not completing an application form fully whilst at the client. […]
The information contained in the update published in December is divided into seven “Themes”. This article provides a summary of some of the points discussed in Theme 2: Investments. At the end of the […]
Michael Vaughn, the former English skipper, has some interesting views in the Telegraph on the important third test between England and the Proteas at the Wanderers. Anderson and Broad will be very intimidating […]
The issue of accountability for an omission was covered in a FAIS Ombud determination issued on 8 December 2015. It also provides insight into what happens in this regard after the sale of a business […]
Theme 4 of the recently published RDR General Status Update by the FSB expands on items discussed in the RDR Phase 1 Status Update document, published a few weeks earlier. Key stakeholder feedback and […]
The current provisions in the FAIS Act, 2002 and the procedures that have been adopted and applied by FSPs, and to some extent by the FSB, regarding the debarment of representatives have led, […]
The proposals concerning competency requirements under the new Fit and Proper regulations, published in December 2015, include the following: Experience It is proposed that, in order for a person to be approved as a […]
The great fight back by the Proteas in the second test at Newlands gave supporters a lot of hope for the remaining matches. Time at the crease were sorely needed after the debacle […]
The tax harmonisation reforms of retirement funds will be implemented from 1 March 2016. What are the changes that will come into effect on 1 March 2016? “The Taxation Laws Amendment Act, 2013 will come into effect […]
The Promotion of Access to Information Act came into being in the year of our Lord 2000. When it was eventually discovered that virtually every person in South Africa, including the informal street […]
The recently published status update on phase 1 of the RDR proposals provided insight into the Regulator’s thinking after receiving feedback from the industry on two proposals contained in the original RDR discussion […]
Another year, another premium increase to your medical aid plan for 2016! As households try to realign expenses to accommodate the above-inflation medical aid premium increases for 2016, many people are asking whether […]
The “Guidelines on Proceedings of the Appeal Board” was replaced with a new document titled, “Practice Directions and Guidelines issued by the Chairperson of the Appeal Board”. Some of the important aspects, appearing […]
