Physician Heal Thyself
The Council for Medical Schemes (CMS) published its annual report on 3 September 2013. The 5-page media release contains some very interesting statistics about trends in the industry, as well as a summary […]
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
The importance of Effective Oversight
The latest determination by the Ombud contains several important pointers for advisors, particularly from a record keeping and oversight perspective. The Van Vuuren couple, at the respective ages of 66 and 69, effected […]
The Obedient Wife
There was a man, who worked hard all his life, saved all of his money – and was a real miser. Just before he died, he said to his wife…’When I die, I […]
Prohibition of Inducements
The word “prohibition” always conjures up images of Al Capone and his merry men, armed with Tommy guns, outsmarting the cops who had to apply the ban on liquor which the majority of […]
No Role Model – Insurance company under the spotlight
An unlicensed direct insurer, Model Insurance, who claims to have been doing business since 2007, is currently under investigation by the Regulator. Their activities came under the spotlight after their alleged failure to […]
Go Big, Boys
Heyneke Meyer was happy to be able to name an unchanged squad, but realises that there is still a long way to go in terms of where we want to be. “You don’t […]
A Lesson in Irony…
The Food Stamp Program, administered by the U.S. Department of Agriculture, is proud to be distributing this year the greatest amount of free Meals and Food Stamps ever, to 46 million people. Meanwhile, […]
The Challenge of ethics and professionalism Or how to create your own Twin Peaks
The last decade of our profession has seen tumultuous changes in regulation and consumer awareness. The changes affected both financial advisers and product providers. The next wave of regulation, from TCF to twin […]
Foreign FSPs and the Regulatory Examinations
Dr. Des Leatt kindly provided us with the following clarification from the FSB on this topic. There appears to be some confusion regarding the Level 1 Regulatory Exams as they apply to Foreign […]
Moonstone Binder Workshops: Cape Town & Durban
The FSB’s Information Letter 3 of 2013, published on 1 July, provides further clarity on: What activities constitute binder functions Defines some activities which the FSB considers to be incidental to binder functions […]
Debarments a Sorry State of Affairs
“The volumes of cases for debarments are mind boggling as they paint a picture of an industry replete with misfits and incompetent representatives. Simply put, the public is at risk.” Harsh words from […]
Smash and Grab
This is not only a phrase used to describe a form of petty crime; it was also the name of a great South African racing horse. If one has to find an equivalent […]
THE THREE NUNS
THREE NUNS WERE ATTENDING A RUGBY FINAL… THREE MEN WERE SITTING DIRECTLY BEHIND… BECAUSE THEIR HABITS WERE PARTIALLY BLOCKING THE VIEW, THE MEN DECIDED TO BADGER THE NUNS HOPING THAT THEY’D GET ANNOYED […]
Regulatory Overkill?
There are some who will say that rugby is not as serious as work – it is much more important. Recent incidents in the sporting world confirmed a theory also held by many […]
Binder Agreement Workshops: Cape Town & Durban
Our first two workshops, held in Johannesburg and Pretoria, drew very positive comment from attendees. Two more are scheduled for Cape Town (17 September) and Durban (18 September). It appears that the folk […]
RE Focus: Why do I keep on failing?
We regularly receive desperate calls for advice from candidates who have repeatedly failed the level 1 regulatory examination. Perhaps we should start off with the bigger picture – on Tuesday, we heard from […]
Managing an FSB Compliant Practice
The FSB presentation on Tuesday, 3 September, is possibly the most comprehensive, up to date guide available on managing a practice, and the DVD belongs in the library of everyone who is serious […]
