Date of First Appointment Enquiry
I have been working in an insurance department in August 2010 until November 2011 then worked in a non-insurance department from December 2011 until June 2012. In July 2012 I have been working […]
Deepfake profits and ‘overwhelming’ illegality: Banxso liquidated
The High Court finds Banxso knowingly benefited from deepfake adverts, misled clients about its licence and returns, and is ‘hopelessly insolvent’.
RE Exemption Applications
The FSB announced that candidates who applied for an exemption afforded under Board Notice 65 of 2013 will be allowed to continue doing business until such time as the result of their application […]
A Sweet and Sour Weekend
On Friday, the Stormers reverted to their tried and tested approach in grinding out a two point win against the Hurricanes. How ironic that their winning margin was thanks to the never-say-die spirit […]
How to Apply for an Exemption
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 […]
Healthcare Guidelines
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 […]
RE Update: FSB Grants Exemption
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 […]
A lesson or two from Noah
Noah’s Ark: Everything I need to know, I learned from Noah’s Ark. ONE: Don’t miss the boat. TWO: Remember that we […]
FAIS Ombud Discontinues Case Fees
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 […]
Are we on our way to the Colosseum?
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 […]
Is it the end of the world as we knew it, my friend?
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 […]
Why Regulation is Unavoidable
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 […]
NAIFA No Longer
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 […]
Inseta Broker Network Update
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 […]
Bulls & Cheetahs win away from home
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 […]
Outcome of Treasury and SAIA Discussions
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 […]
Must I wait for the FSB?
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 […]
