Disclosure of Costs
A recent finding by the FAIS Ombud will probably cause product providers to rethink how they disclose costs, including commission, in quotation packages. The General Code of conduct stipulates that a provider “…must, […]
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.
Service Level Agreements
It is no secret that the myriad of controls required by the Regulator is not often viewed in a positive light. Feedback after visits by the FSB to broker practices confirms that FSPs […]
Periscope Up
Business forecasts normally appear towards the end of the year, together with reviews of the past year. The financial services industry, and particularly financial advisors, would be well advised to conduct this exercise […]
RE Results
As we near the final cut-off date for FSPs who have yet to write (and pass) the exams before 30 September, one can sense the anxiety in the enquiries we receive. Please know […]
Manhandled in Mendoza
NZ 22 – Australia 0 It took the All Blacks more than 25 minutes to score their first points. Full marks to the Wallabies for keeping the game tight, minimizing opportunities for the […]
Proceed with caution
Whilst at the Olympic games in London, I was standing in a bar in Chelsea, minding my own business, when this little Chinese guy comes in and stands next to me. I turned […]
Service Standards for Complaints Resolution
We regularly hear from readers about poor handling of complaints by product providers. The major problem from an advisor’s perspective is that a lack of response from the product house reflects badly on […]
Regulatory Exams
I recently bought a new car. I got a good deal and decided to help the F & I lady with her regulatory exams. She failed four times writing through Moonstone, and felt […]
Outsurance kry Bloedneus
Verbruikers wat meen dat hulle spaar deur die tussenganger uit te sny, kan gerus hierdie artikel lees. Luidens die berig in die Sunday Times van 12 Augustus 2012 is ‘n kliënt se eis […]
Another Investment Scheme under Provisional Curatorship
The total assets under management of the Rockland Targeted Development Investment Fund was placed under provisional curatorship on Tuesday after an ex parte application by the FSB. Bert Chanetsa of the FSB said […]
Top 10 jokes at the Edinburgh Fringe this year
1. Stewart Francis – “You know who really gives kids a bad name? Posh and Becks.” 2. Censored 3. Will Marsh – “I was raised as an only child, which really annoyed my […]
FSB Contact Details
The latest FSB newsletter, published in January this year, contains a list of e-mail addresses for submission of documentation to the Regulator. Please download and store this in easily accessible format. We have […]
FSB Broadcast on CPD
Continuous professional development has become the new buzz word as far as the regulatory exams are concerned. This was also the theme of the latest television broadcast by the FSB. It contains a […]
“Offs” and “Ons” Update
We kept a record of the number of FSP “offs” and “ons” as recorded in press releases by the FSB since 18 February last year. The figures are as follows: […]
Who said Test cricket is dead?
Wow, what a final day that was! The result is in the bag and the Proteas have laid claim to that elusive Number 1 ranking they have been working towards for so long. […]
On the verge…
We are all set for the last day. England were set a mammoth 346 runs to win and so square the series to cling to their number 1 ranking. As things stand, England […]
Paddy visits New York
He was patiently waiting and watching the traffic cop on a busy street crossing. The cop stopped the flow of traffic and shouted, ‘Okay, pedestrians.’ Then he’d allow the traffic to pass. He’d […]
