Tag Archives | Risk Management

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Draft proposals for managing IT risks

The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA), published a draft Joint Standard on Information technology risk management for public consultation. The main objective of the Joint Standard is to prescribe the requirements that a financial institution must comply with in relation to information technology risk management. The draft Joint Standard is […]

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Investments – How to manage perceived risk

The COVID-19 pandemic has caused much market uncertainty both locally and globally this year. Many investors choose to change their risk exposure during market uncertainty because their perception of risk has changed. But decisions made in a moment of heightened risk perception can be detrimental to achieving long-term investment goals. “This is because risk perception […]

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The importance of clearing or disabling cookies

“In order to have a positive and safe experience in the digital world, we need to understand the ever-increasing diversity of digital threats and equip ourselves with the necessary knowledge and skills”. This is the view of Wilna Meiring of the Institute of Risk Management South Africa (IRMSA). In a recent article, she shares information […]

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Audenberg Appeal against FAIS Ombud

The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the Ombud’s handling of the case. What is its mandate? Under the heading “Risk management”, the latest FAIS Ombud annual report notes: “The […]

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Risk Involved in Short-term Home Rentals

The latest Mutual and Federal newsletter contains an article by SA Property News of interest to brokers and their clients who make use of facilities like AirB&B to rent out their houses and flats on a short-term basis to earn additional income. Attie Blaauw, head of personal lines underwriting at Santam says: “When you decide […]

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Managing and Mitigating Risk in your Business

The FAIS Supervision Department of the FSB follows a risk-based approach in supervising financial services providers (FSPs). Licenced entities are categorised in five sectors, ranging from high impact to small FSPs, with the latter being regarded as the least likely to cause major loss to their clients. This does not, of course, mean that you […]

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