Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle

The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.

Bluezone Directors Held Liable for Losses

In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]

Foreign FSPs and the Regulatory Examinations

Dr. Des Leatt kindly provided us with the following clarification from the FSB on this topic. There appears to be some confusion regarding the Level 1 Regulatory Exams as they apply to Foreign […]

Debarments a Sorry State of Affairs

“The volumes of cases for debarments are mind boggling as they paint a picture of an industry replete with misfits and incompetent representatives. Simply put, the public is at risk.” Harsh words from […]

Regulatory Overkill?

There are some who will say that rugby is not as serious as work – it is much more important. Recent incidents in the sporting world confirmed a theory also held by many […]

RE Focus: Why do I keep on failing?

We regularly receive desperate calls for advice from candidates who have repeatedly failed the level 1 regulatory examination. Perhaps we should start off with the bigger picture – on Tuesday, we heard from […]

Telematic Broadcasts Keeping you Updated

These communication sessions offer the industry an opportunity to communicate directly with the Regulator on practical matters. When I looked at the registration page this morning, there were still a number of empty […]

Enforcement Committee: Ogre or Opportunity?

We briefly touched on this topic in a previous article FSB Enforcement Committee. In this article we expand on the actual workings of the Enforcement Committee, and provide information that will stand you […]

Debarment under the Loop

A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]

“Services under Supervision” – What does this entail?

The clear indication by the FSB that it has no intention of extending the final date for passing the regulatory examinations has caused quite a flurry in the industry. Coupled with the recently […]

How not to complete your answer sheet

Candidates can save themselves a lot of despair (and money) by paying attention to a few basic rules when they write the exams. This week, I saw a copy of an answer […]

Future Income Loss to FSB

We received a fair amount of all kinds of calculations, based on the FSB statistics. One that differed from the rest considered the financial impact on the FSB’s income, should the pass rate […]

Afrikaanse Eksamens

Die eerste uitslae is verlede week bekend gemaak, maar slegs die Raad op Finansiële Dienste (RFD) mag statistieke hieroor bekend maak. Ons wil egter graag ‘n dringende beroep doen op diegene wat die […]

Registration Deadline

The national inclination to defer matters of a less pleasant nature to the very last minute is not unique to our industry, but also not foreign to it. I recall how, in 2004, […]

Letters from readers

In today’s article we share three pieces of correspondence. E-mail 1: This mail, dated 15 December, was sent to the FSB: People are talking about a test that has to be done by […]

Study Material for the RE's

It appears that a lot of questions we receive every day are based on hearsay, speculation or inappropriate reference to available resources. At the risk of sounding like a recording, we have to […]

Why are Level 1 questions not Industry specific?

A number of candidates complained that the Level 1 REs contain questions not related to their sector of the industry. It is common knowledge that the Level 2 REs will be product specific. […]