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.
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In the publication of the Phase 1 proposals it was envisaged that drafts of subordinate legislation to give effect to the majority of the RDR Phase 1 proposals would be published for comment in April 2016, […]
The information contained in the update published in December is divided into seven “Themes”. This article provides a summary of some of the points discussed in Theme 2: Investments. At the end of the […]
Theme 4 of the recently published RDR General Status Update by the FSB expands on items discussed in the RDR Phase 1 Status Update document, published a few weeks earlier. Key stakeholder feedback and […]
The recently published status update on phase 1 of the RDR proposals provided insight into the Regulator’s thinking after receiving feedback from the industry on two proposals contained in the original RDR discussion […]
The introduction of the FAIS Act and supporting regulations contributed to making the provision of financial advice a more daunting and costly service than ever before. Prior to 30 September 2004, we saw […]
As the implementation of RDR draws closer, financial advisers around South Africa are putting a great deal of thought and effort into their plans to adapt to the new requirements. There are ongoing […]
The original RDR Proposal on replacements provided that “…long-term insurers would be prohibited from paying any form of commission or fee to an intermediary in respect of the replacement of life risk policies. […]
The term “regulatory instrument” appears in the Financial Sector Regulation Act and includes, inter alia, a prudential standard, a conduct standard and a joint standard. These regulatory instruments form part of the Financial […]
The negative implications contained in the demarcation proposals on health cover products was clearly outlined in an article by Adri van Zyl in Die Burger on 6 August 2014 titled Versekeraars is op hol. The […]
The practice of incentivising independent financial advisors (IFAs) to shift their investment and risk books is possibly the single biggest driver of churning, and is likely to be addressed as part of the […]
The eagerly awaited discussion document on the review of retail distribution, expected this month, has a long history. The triangular association – whereby the intermediary provides advice to the policyholder but is incentivised […]
We commented on this very relevant topic last week. More detailed information has since come to hand. We will use this over the next few weeks to discuss what will possibly be contained […]
It has long been my contention that, unlike the socks I buy at Woollies, there are few products which can satisfy clients’ needs with a “one-size-fits-all” approach, particularly in the financial services industry. […]
Improved customer service and fair advisor remuneration will be key features of the new financial services landscape. Jonathan Dixon, Deputy Executive Officer of the Financial Services Board’s Insurance Division, made some interesting comments […]
The Retirement Funds Department of the FSB published Draft Information Circular 6 of 2013 to clarify its views on certain issues, including the payment of fees and commissions when a client elects to […]
We regularly receive enquiries from readers about Cambist, who offers a return of 19.5% on investments. For all practical purposes, it appears that they act as an aggregator between the public and certain […]
