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.
An increase was announced with regards to the maximum value of the policy benefits to be provided in terms of an assistance policy (Financial product subcategory 1.1). As from 11 November 2013, the […]
The condition of the pitch is important in cricket, but it should not affect the quality of a rugby match. Sadly, Wales lost here, too. I felt particularly sorry for Frans Malherbe, and […]
A mission from the International Monetary Fund (IMF) concluded its annual visit to Namibia with a statement on November 7, emphasising the “consistently high quality” of policy discussions with local authorities. The Fund […]
The presentation by the FSB focussed on how the six desired outcomes of treating customers fairly will impact on the industry. For this discussion, we will only focus on three which will affect […]
South Africa is very much part of the global financial world, and also one of more than 200 members of the International Association of Insurance Supervisors (IAIS). The mission of the International Association […]
This article is published with the kind permission of Van der Spuy and Partners in Paarl and Cape Town. The protection of privacy in South Africa has undergone intense investigation over the last […]
The statistics section of the Ombud’s report provides useful insight into trends in the industry. New complaints received During the applicable year, the FSB received 9 949 complaints. The total number of complaints […]
In a directive published last week, the Financial Intelligence Centre (the FIC) requested all institutions registered with it to update their details on the FIC’s electronic platform. In order to verify that your […]
The Springbok team, announced yesterday, pleased more people than usual, both from a view of who was selected, and who was left out. The inclusion of Pat Lambie in place of Zane Kirchner […]
According to an article on the Supersport website, South Africa have now failed to cross the 200-mark in five of their last seven matches, including a 4-1 defeat against Sri Lanka in July […]
The National Resistance of Mozambique (Renamo) has returned to the bush, but this does not mean a return to war. Nor do we see any threat to regional economies. Renamo – the spawn […]
Following on from a recent draft document calling for input from the industry, the Registrar has now published a directive on the maximum causal event charges which may be deducted under Part 5A […]
FAIS Circular 7, issued by the FSB this week, contains details of a new debarment notification document which comes into effect tomorrow, 1 November 2013. The background to this new form was discussed […]
Now that I have almost managed to digest the overdose of humble pie I was fed over the weekend, it is time to look forward to bigger things – the end-of-year tour by […]
Western Province 19 – Sharks 33 An article in my local paper titled, “That is why WP lost” may well have read: “Why the Sharks won.” It lists the following 5 factors: Poor […]
The information below is taken directly from FAIS Information Circular 8/2013. Level 1 REs “The FSB decided to commence with a review of the Level 1 examinations. The review will mainly focus on […]
“The Financial Services Board (FSB) commented on a circular dated 6 August 2013, issued by Frontier Asset Management to debenture holders and shareholders who have acquired their rights in terms of Schemes of […]
