The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
The Procedure to apply for an exemption/extension is as follows: The application must be addressed to The Registrar: Financial Services Providers. The applicant is required to write a letter explaining what efforts were […]
The recent document updating the Medical Schemes Council policies and guidelines contained two items which may be of interest to readers. Orphan Client Allocation “…when a member has been admitted to a scheme […]
The Regulator published the following explanatory note on Board Notice 65 of 2013, which was in the Government Gazette on Tuesday. It concerns an exemption granted to applicants who applied for an exemption […]
Noah’s Ark: Everything I need to know, I learned from Noah’s Ark. ONE: Don’t miss the boat. TWO: Remember that we […]
The following announcement was published on the home page of the FAIS Ombud: In terms of the Financial Advisory and Intermediary Services Act, read with Rule 9(a) of the Rules of Proceedings of […]
One should be wary of getting stuck in the “good old days”. Today is tomorrow’s good old days, after all. When I mentioned to my colleague Bobby, that John Plumtree currently sits with […]
It seems there are two schools of thought about the future of the financial services industry. The End of the Innocence Last month, an interesting article titled “Adieu independent advice”, sub-titled “Heading for […]
Quite often, people in the industry question the need for regulation. They look at the issue from their own perspective, and the fact that their clients have never complained about them. Unfortunately, it […]
The National Association of Independent Financial Advisers (NAIFA) was terminated in February, according to an article in the Financial Mail. According to its website, “NAIFA was established in South Africa late in 2010 […]
The Inseta Broker Network provides free membership. Its aim is to assist brokers, and their support staff, with training related matters. I must admit that “eduspeak” often confuses me no end. Hopefully this […]
The much anticipated clash between the Sharks and the Cheetahs produced the expected result, based on recent form. The score was exactly the same as in the earlier encounter in Bloemfontein. The significant […]
We gave substantial exposure to the Jerrier case over the past few weeks. Last week, in a joint media statement, Treasury and SAIA provided details of measures agreed on, to enhance insurance disclosures […]
A number of readers approached us regarding the consequences of not passing the level 1 REs by the required date. Many are of the opinion that they can carry on as usual until […]
In media releases, dated 12 and 16 April, the FSB announced the following figures relating to changes in the status of affected FSPs: The authorisation of 515 FSPs were suspended during the reporting […]
Sharks v Cheetahs at Kings Park, Durban, Saturday 17:05 Will the Cheetahs let another opportunity slip? This is the big question for this fixture. The Sharks are seriously under strain as the underperformance […]
