FAIS Ombud highlights need for follow-up when a policy changes materially

Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.

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Who let the dogs out?

This past year had its fair share of ups and downs. It is normal practice to review the year gone by, and hopefully learn from it. It also provides an opportunity to ponder […]

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Is Insurer in Breach of Agreement?

A recent settlement between the FSB’s Enforcement committee and a direct insurer reads as follows: The parties agree that the offering of the Travel and Card Cash back benefits that formed part of […]

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One Pint of Bitter, please barman

On Saturday night, the English team were drowning their sorrows, as yet another opportunity to beat South Africa, slipped through the cracks. The pub they were sitting in, is one of those typical […]

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Oh, to be in England

It was quite scary, reading on Monday morning of the late citing of Eben Etzebeth. I quite like the way Gavin Rich put it: After a marathon disciplinary hearing, it was confirmed by […]

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Queen’s message to USA after elections

To the citizens of the United States of America from Her Sovereign Majesty Queen Elizabeth II In light of your failure in recent years to nominate competent candidates for President of the USA […]

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Jurisdiction of the FSB

Was it coincidence? I was working on this article on Tuesday, and on Wednesday saw an article in Sake24 entitled: Finansiële waghond ‘aan die slaap’. According to this report, the members of parliament […]

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Final Date to register!

The final date for registration to write in this calendar year is this coming Thursday, 29 November, to write on 13 December. Your first exam opportunity in 2013 is on 14 January. Please […]

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Enforcement Committee Penalties

In the last two weeks we saw a spate of media releases on Administrative Penalties meted out by the Enforcement Committee of the Financial Services Board. It is difficult to determine the basis […]

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Inseta Vouchers Now Available

As reported recently, the Insurance sector SETA are making 1 000 vouchers available to candidates who want to acquire a recognised “full qualification”. This offer is open to all small enterprises, employing up […]

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FNB Instructed to Cough Up

Four years ago, former FNB financial adviser, Clynton Cotton, pleaded guilty to stealing R12 million from his clients. One of them, Carmen Goodman, finally won her court battle with the bank. FNB was […]

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FSB Exempt from Liability?

Under the proposed Financial Services Laws General Amendment Bill, the Financial Services board will be protected from legal liability for their bona fide actions, even if these are negligent. According to a report […]

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Are ye Irish?

A customer asks… “In what aisle could I find the Irish sausage?” The clerk asks…”Are you Irish?” The guy, clearly offended says… “Yes I am, but let me ask you something. “If I […]

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Double Trouble

A reader recently sent me an e-mail that read: What distinguishes a good Scotch from an ordinary dram? One double makes you think you’re single. This quite accurately sums up what happened on […]

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Dwindling Sole Prop Numbers and Rent a KI

Last week, we commented on the fact that there are only 2 492 sole proprietors in the industry, based on the latest FSB statistics. One reader, speaking from personal experience, wrote as follows: […]

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Neighbours

There is a huge house in our street. The extended family is run by a grumpy old woman with a pack of irritable dogs allowed to run without leads. Her car isn’t taxed […]

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It Makes CENCE to get involved

I am quite proud to share with you a report received from CENCE, our Social Investment initiative. The name CENCE is the acronym for “Consumer Education through National Collaborative Enablement”. Cence, in partnership […]

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