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Tag Archives | Annual Report

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Registrar of Pension Funds Annual Report

What can we learn from the past? The Registrar of Pension Funds 59th Annual Report for the 2017 calendar year was published on 18 December 2018. Besides the industry statistical overview, performance of funds and financial statements, the report covers proposed regulatory changes, litigation matters, unclaimed benefits and the outcomes of on-site visits Amendments to […]

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CMS Annual Report 2016/17

The Council for Medical Schemes (CMS), regulator of the medical schemes industry, released its Annual Report for 2016-2017 on 5 October, providing a comprehensive report on the status of the private medical schemes industry in South Africa. Some of the interesting statistics in the report include: Number of medical schemes and beneficiaries The total number of […]

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What keeps the LT Ombudsman awake at night? Part 2

From the Long-term Ombud’s 2016 annual report: The Assessors and Adjudicators in the Long-term Ombud’s office were canvassed about the issues that currently fall into this category. Last week we discussed “Bad Bargains” and Complex Products”. 3. Complainant behaviour The LT Ombud wrote about difficult complainants in the 2015 Annual Report on pages 24 and […]

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FAIS Supervision Annual Report

The FAIS Supervision Department of the FSB supervises financial services providers (FSPs) in terms of a risk-based approach. In response to the changing face of the regulatory landscape, international trends and outcomes of previous years’ on-site visits, the department introduced a new Medium to High risk category to define the risk of non-compliance more accurately. […]

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FAIS Ombud 2012/2013 Annual Report

The statistics section of the Ombud’s report provides useful insight into trends in the industry. New complaints received During the applicable year, the FSB received 9 949 complaints. The total number of complaints received which fall under the jurisdiction of the FAIS Ombud increased by just under 21% from 3 547 to 4 288. This […]

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Positive News from PFA

The Pension Fund Adjudicator published her annual report last week. It contains some very positive indicators, as well as concerns for the industry, and the public. In the message from the Minister of Finance, Pravin Gordhan, quotes the following statistics which point at major improvements in the handling of complaints: The Office of the Pension […]

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