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Treasury proposes reducing FSP levies

National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small entities. Read: FSPs face paying regulators much higher levies Vukile Davidson, Treasury’s chief director of financial sector policy, told Parliament’s Standing Committee […]

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UK regulator aims to strengthen investment rules to avoid white noise in risk warnings

One of the interesting findings of the recently discussed Momentum Investments and Oxford Risk Noise and Investment Advice Study was that the conventional methods of assessing  risk of individual investors, is subject to a fair amount of noise. The study pointed out that humans are prone to ‘noisy’ errors, unduly influenced by irrelevant factors, such […]

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Industry expresses disappointment at termination of Section 12J tax concessions

National Treasury announced in its 2021 Budget that the Section 12J tax incentive, introduced in 2008, will not be extended beyond its sunset date at the end June. What was National Treasury’s objectives of this decision and how did the industry react? “The review process for section 12J (venture capital companies) has concluded. Government introduced […]

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Family planning – Gap cover helps beyond birth and every step of the way

“Pregnancy and childbirth are usually occasions of great joy, but the medical expense shortfalls that go along with it can add a lot of stress,” Tony Singleton, CEO at Turnberry Risk Management Solutions reminds parents-to-be. “The best solution is to plan your financial future carefully and have medical aid and gap cover in place well […]

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ST Ombud clarifies difference between Private, Business and Commercial insurance

Upon entering a contract for a motor insurance policy, it is very important for financial advisers to clarify what the intended use of the vehicle is in order to determine the correct risk profile and to calculate the appropriate premium. Understanding the distinction between the various usages is important – if an insurable incident occurs […]

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