Welcome Breather Ahead
Thank goodness this is the final Super Rugby round for a few weeks. I was about to declare myself injured after all these matches which started more than three months ago. The break […]
Appeals Board ruling puts Centriq–Dis-Chem partnership on the line
In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
Proposed Exemption from New Legislation
Alan Holton, an independent compliance practitioner and associate of Moonstone, recently shared the following information regarding amendments to the Financial Services Laws General Amendment Act of 2013. Financial Services Board Act 1990 and […]
FSB Outlook for the next 2 years
Improved customer service and fair advisor remuneration will be key features of the new financial services landscape. Jonathan Dixon, Deputy Executive Officer of the Financial Services Board’s Insurance Division, made some interesting comments […]
Bok team taking shape
They say that, in golf, every shot pleases someone – either the player, or his opponent. The bad news about the incumbent Bok captain probably solves a quandary for the coach while at […]
Nigeria – Boko Haram strikes in Jos
Yet another presumed Boko Haram terror attack took place on Tuesday, May 20, killing at least 188 people in Jos. The attack took the form of a double car bomb attack at Terminus […]
Medical Schemes Brokers Fee Increase
The Minister of Health has determined that the current capped maximum fee of R69 plus VAT will increase to R71,07 plus VAT with effect from 1 February 2014. This increase of 3% should […]
TCF and Causal Event Charges
The Pension Fund Adjudicator (PFA) recently ruled on an investor’s complaint regarding the excessive causal event charges. The PFA found in favour of the product house, but was rather scathing in her comments […]
New duties imposed on trustees by the amendments to the Pension Funds Act
The Financial Services Amendment Act came into effect on 28 February 2014 and amends the Pensions Funds Act (“the Act”). It introduces an assortment of new duties and responsibilities for pension fund trustees. […]
Bestendigheid Meyer se Basis
Die afwesigheid van sleutelspelers in die Bok oefengroep moet nie gesien word as ‘n aanduiding dat Heyneke Meyer beoog om ‘n klomp nuwelinge in te sluit in die span wat teen die internasionale […]
PFA Ruling on Fund Returns
It is standard practice that Ombuds do not rule on what investors may deem to be unsatisfactory returns. This ruling is interesting for two reasons: The complainant alleged that excessive fees caused the […]
Time to draw a line
Several episodes over the weekend involving match officials yet again shifted the focus from where it should be. Let me start off by saying that the two red cards were fully deserved, and […]
Swaziland – US to pull AGOA plug in January
Swaziland is set to lose its preferential access to US markets via the African Growth and Opportunity Act (AGOA). This is because the impoverished country has failed to meet a US deadline to […]
With performance fees the “Devil is in the detail”
Although the financial services sector is backed by a sound regulatory and legal framework, not enough is being done to ensure full transparency in terms of investment management fees. It is almost impossible […]
South African Dofa Deadline
Just a gentle reminder to all those who are required to successfully complete the level 1 Regulatory Examinations by the end of June that the final dates for registration are as follows: Permanent […]
Demarcation Proposals Under Fire
The proposals by National Treasury to find a solution to what it regards as a threat to medical schemes did not find favour with all in the industry. An article in the Financial […]
Debarments still a Headache
Louis Wessels, FSB legal consultant, writes in the latest FSB Bulletin that the debarment of representatives, unlike those involving key individuals, remain a taxing problem for the Regulator. Readers may recall that we […]
Probable Springbok Team
My colleagues suggested a squad to take on the international side in a warm-up match prior to facing Wales in June. The huge number of injured players, including the likes of Bakkies Botha […]
