Address changes
Drafting this article reminds me of the saying “preaching to the converted”. If you are reading this, then obviously your address on our database is correct. We do, however, receive many calls […]
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
All about nothing
We have all heard of some story or other about how some banks treat their customers. Here’s one that will knock your socks off… This happens to be a true story indeed!!!! Sometimes […]
FSB Information Letter 3 on Binder Regulations
The purpose of the document is to provide guidance on: Activities that constitute binder functions Remuneration payable by the insurer to the binder holder and The Registrar’s interpretation of the regulations from a […]
Stokvels and Burial Societies Exempt from Licensing
Board Notice 43 of 2013 exempts Stokvels and Burial Societies from being licensed. This obviously means that they no longer fall under the jurisdiction of the FSB. It is very specific about who […]
Representatives under Supervision
In 2008, the FSB realised that the fit and proper requirements could prove to be a major obstacle for new people entering the industry. This was particularly true of the minimum experience requirements. […]
Bleeding in the Trenches
There was a short, almost implied comment in my morning paper which provided me with better insight into the current situation of the South African sides in the Super 15 competition. I read […]
FSB Presentations in 2013
The FSB published a list of communication events to be hosted by the FAIS Division between June and December 2013. The events are aimed at FSPs, key individuals, compliance officers and representatives. Please […]
Andy Capp, a time traveller?
It turns out that there’s a scientific and logical explanation for why people ( mostly men ) spend so much time in pubs and only get home in the early hours of the […]
Help is at hand
A reader recently wrote: Hi Paul I am really battling to put together a Risk Management Plan that makes any sense at all. I am a one man business and don’t even employ […]
FSB warns against NaxaInvest
In a recent press release, the Regulator warned the public against conducting business with NaxaInvest. It is not authorised as a financial services provider and is not a representative of an authorised financial […]
Too little too late
This may very well be the lament of both the Stormers and the Sharks, after the weekend’s disappointing losses. Neither team should have lost their respective matches, yet suffered self-inflicted defeats. The Kings […]
Applying for an Exemption
We pointed out on Monday that the information appearing on the FSB website differed from what we understood the process to be. We referred the matter to the Regulator, and received an amended […]
Disclosure of Material Terms
What obligations are there on you to provide clients with a reasonable explanation of the material terms of their policies? This topic is very relevant in terms of the recent Jerrier case, which […]
Paraprosdokians wordplays
A paraprosdokian is a figure of speech in which the latter part of a sentence or phrase is surprising or unexpected in a way that causes the reader or listener to re-frame or […]
Explanatory Note on Board Notice 65 of 2013
We received the document below in the form of a media release on 24 April 2013. It appears that a substantial number of people applied for an extension of the final date to […]
Super 15 Week Twelve
This public holiday in the middle of the week really messed up my biological clock. When I woke up this morning, going to work was the last thing on my mind. Then, when […]
The Men’s Club
A group of chaps, all aged 40, discussed where they should meet for lunch. Finally it was agreed that they would meet at the Ocean View restaurant because the waitresses there were gorgeous, […]
