FAIS Notices 81 and 82 of 2015
In response to a number of enquiries, we provide some clarification on the content of these important notices. We encourage you to read this in conjunction with the actual documents which are linked […]
SARS publishes tax filing deadlines for 2026
The Notice also sets out who does and does not have to submit a tax return.
Structured products still offer offshore opportunities even with a weak rand
Investing abroad can be complex for South Africans. Though exchange controls were relaxed over the past few years, for the most part investing overseas requires investors to have deep pockets and a crystal […]
Special Funding Window for Skills Programmes
INSETA opened a special funding window for those wishing to avail themselves of the opportunity to get financial assistance for learners in their employ. Please complete the prerequisite survey by clicking on this […]
Nigeria – Reasons to expect some policy liberalisation
Structural factors, recent news and upcoming events give reason to believe that Nigeria is about to take a liberal turn on policy. The most important structural factors are the catastrophic state of public […]
Interesting Short-term Ombud Cases
The latest Ombud Briefcase contains a number of case studies which provides guidance on key aspects of the industry. Non-disclosure of a criminal record A direct insurer rejected a claim on the above […]
Procrastination seldom pays
The June 2015 Date of First Appointment (DOFA) deadline again saw a large number of candidates scurrying to write at the very last minute. Those who failed experienced unnecessary hardship, upheaval and a […]
Moving Clients to a new FSP
Representatives in the short-term industry who move to a new FSP, often take their clients with them. There are very specific legal requirements in this regard, and ignoring it can have a costly […]
Prescribed Medical Benefits – 'In accordance with' replaces 'paid in full' – Patricia Holburn
Since the introduction of Prescribed Medical Benefits (PMBs) in 2004, definitions, inclusions, cost and reviews, have raised concerns. PMBs were well intentioned – make sure members have cover for emergencies and big events. […]
Statistics can be misleading
As one is wont to do these days, I was almost more interested to see who the referee is for Saturday’s big match between New Zealand and South Africa, than what the teams […]
Third Party Enquiries
Our RE Department receives many enquiries from third parties, like compliance officers, for information about candidates. In line with the Promotion of Access to Information Act (PAIA), and the FSB’s mandate to examination […]
Special Audit on Sign-On bonuses and Churning
FAIS Newsletter 17 contains details of the outcome of this special compliance audit to investigate the link between the payment of sign-on bonuses and the replacing of products as a result thereof. The […]
Upfront Remuneration on Savings Plans
We are aware of at least one product provider who offers upfront discounted fees, plus further payments in years 6 and 11 of the plan. Whilst this option contains a number of positive […]
Remuneration on Tax-free Savings – Patrick Cairns
The introduction of tax-free savings accounts on 1 March this year was a positive step from National Treasury. Effectively the government has put its money where its mouth is with regards to encouraging […]
Delay in Burundi’s presidential elections, Rwandan parliament wants referendum on Kagame’s third term
Burundi’s presidential election has been postponed by five days, and the first round will now be held on Tuesday, July 21. Authorities thus want to look as though they are meeting international diplomats […]
Importance of RE Qualifying Criteria
The absolute necessity to ensure that you take into account the qualifying criteria when preparing for the regulatory exams was highlighted in a recent comment from a candidate: Whilst the feedback and information […]
Crime and Punishment
It is not only in rugby that we see different standards being applied by those tasked with applying the rules. The recent banning of an adviser in Australia, compared to some recent appeals […]
Attack and Defence
The Australian side for Saturday’s clash against South Africa certainly looks dangerous – on paper, at least. A backline comprising Israel Folau, Adam Ashley-Cooper, Tevita Kuridrani, Matt Giteau, Rob Horne, Quade Cooper and […]
