The proposed reforms could require significant operational changes for insurers, but industry experts believe they address only part of the problem.
The competency requirements under FAIS are often misunderstood, leading to many people stressing unnecessarily. Prior to 2010, transitional arrangements were in place which allowed for “FAIS Credits” to be obtained which would exempt […]
A recent ruling by the FAIS Ombud sheds light on the right of a client to approach the FSB Appeal Board if dissatisfied with a decision by the Ombud. In the Harten determination, […]
FAIS Circular 20 contains a reminder to FSPs regarding what changes in the FSP need to be conveyed to the Registrar within 15 days. Section 8(10)(a)(ii) of the FAIS Act states: “Where a […]
People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]
This has always been an important component of business, even before Simon & Garfunkel turned the phrase into a hit song. A recent article on customer views of short-term insurers, led me to […]
My Saturday was one filled with rugby – The All Black v Wales game was a fantastic affair and up to the 53rd minute a Wales win looked possible. But as only the […]
A recent article on the Health24 website had me reaching for heart pills I do not have. Discovery Health CEO, Dr Jonathan Broomberg, revealed that his company recovered R400 million on behalf of its […]
A recent Appeal Board case underlines the importance of full and frank disclosure during the licence application process. In the original determination, the FSP and its two members, Ms S and Ms C […]
The Financial Planning Institute (FPI) of Southern Africa hosted its annual Awards Ceremony Gala Dinner on Monday night, where it recognised leaders in the financial planning profession for their outstanding level of professionalism […]
The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit […]
People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]
Strict process for companies wishing to recover stolen money from employee pension fund pay outs, cautions GTC. Employers cannot automatically claim money from an employee’s pension or provident fund when employees defraud them, […]
Not so long ago, in October 2015 to be specific, there was a very quirky joke going around… Little known fact There is a Playoff for 5th Place at the Rugby World Cup […]
The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund. […]
An article in FAIS Newsletter 20 titled Bulk transfers by FSPs and Insurers contains a section under the sub-heading: Protection of Personal Information Act: Furthermore the FSPs are required to comply with Protection […]
The prestigious 2016 FIA Awards gala dinner took place on Thursday, 2 June 2016, and was attended by over 1 000 industry members. The awards go to the insurance, underwriting and investment brands that provide the […]
Please remember that, if your financial year ended on 29 February, you are required to submit your annual return to the FSB before the end of June. Every year, hundreds of FSPs neglect to […]
