Court resolves key costs questions in Cadac Pension Fund case
The High Court overturns an earlier disallowance of the curator’s costs and reaffirms that former trustees remain personally liable for curatorship and inspection expenses.
FSB
Keeping it simple is the solution
Ninety-eight percent of lawyers give the rest of us a bad name, quipped Steven Wright, American stand-up comedian, actor, writer and Oscar-winning film producer. This view was also applied to the financial services […]
For whom the bell tolls
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
For whom the bell tolls
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
FS Tribunal rules on late withdrawal of appeal
The introduction of the Financial Services Tribunal (FST) created a platform for the reconsideration of decisions by any decision-maker in the financial services sector. With the establishment of the Tribunal the prediction was […]
FS Tribunal rules on late withdrawal of appeal
The introduction of the Financial Services Tribunal (FST) created a platform for the reconsideration of decisions by any decision-maker in the financial services sector. With the establishment of the Tribunal the prediction was […]
FSB Regulatory Exam Update
The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular […]
Unsuccessful Appeal Against Debarment
Cases heard by the Appeal Board of the FSB often provide more stringent legal certainty to matters in the financial services industry, particularly in so far as decisions by the FSB itself and […]
Conduct of Business Regulatory and Supervisory Developments
The FSB Insurance Division’s recent Seminar focused on planned conduct of business regulatory and supervisory developments in the insurance sector. Many of these developments are driven by three overarching objectives, including redesigning the […]
FSB RDR Update November 2017
At the end of last year’s Insurance update from the FSB, Jonathan Dixon said: “We had better fasten our safety belts – this is going to be rough year”, or words to that […]
Draft Policyholder Protection Rules submitted to Parliament
The FSB published the Long- and Short-term proposals last Wednesday. Included in the documentation is a comments matrix reflecting the Regulator’s responses to industry input. It is interesting to note the inclusion of […]
FSB on Execution of Sales
The FSB responded as follows to two articles we recently published on these topics. In your articles, “Sticking to the script?” and “FSB Fit and Proper Requirements: Qualifications and execution of Sales”, published […]
Enforcement under Twin Peaks
A fairer dispensation for all? The second issue of the FSB’s Twin Peaks newsletter contains four sections, one of which discusses the issue of enforcement, where we experienced problems in the past, in […]
Can Appeal Board overrule FSB decision?
The recent Willbrink Outsources CC decision by the FSB Appeal Board assessed a rather novel approach to overturn a FSB decision. The appeal was in respect of the Registrar’s decision to withdraw the […]
Unclaimed Retirement Benefit Search Engine
The Financial Services Board made this facility available on its website this week. I was obviously curious about whether the Kruger millions were not possibly hidden in a pension fund somewhere and promptly […]
FSB Levy Reminder
By now you should have received a letter from the FSB advising details of the annual FSB and FAIS Ombud levies payable by the end of October. If you did not, it could […]
FSP Levies for 2017 announced
FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we […]
