The Pension Fund Adjudicator published her annual report last week. Besides the statistics, indicators and conclusions about challenges faced, the report shares a few case studies as an illustration of these challenges. One […]
The financial services industry is a complex industry with terminology, acronyms and legislative terms that the “man on the street” does not easily understand. People working in the industry can quickly get caught […]
The financial services industry is a complex industry with terminology, acronyms and legislative terms that the “man on the street” does not easily understand. People working in the industry can quickly get caught […]
What is the SA-csi? The South African Customer Satisfaction Index (SA-csi) is an independent national benchmark of customer satisfaction of the quality of products and services available to household consumers in South Africa. […]
In the midst of the world cup soccer hype, Neymar memes and speculation on which team will be crowned as the winners of World Cup 2018, the role of soccer coaches sometimes fades […]
Complaints handling is set to become a major measure of your commitment to the fair treatment of clients, or TCF as it has become known. The final proposals for implementation of changes to […]
The ceremony at which Jack Nicholson received his Oscar for “As good as it gets” was the same one where “Titanic” dominated all the categories. Nicolson, with that wicked smile of his, opened […]
If the Pension Fund Adjudicator had her way, causal event charges would be levied very differently, if at all. In a case reported on in FANews on 3 August 2017, the product provider, in response […]
The necessity for a process to ensure that those who fall foul of the fit and proper requirements are not allowed to practice was never in question. In particular, the bad apples need […]
The latest settlement agreement, between the Registrar and New National Assurance Company Limited, contains an interesting new slant to what we have become used to. The Registrar was of the opinion that the […]
An Operational Circular titled “Settlement of claims on damaged or stolen vehicle tyres and shock absorbers/springs”, issued on 24 January 2017, provides a good example of Treating Customers Fairly in action. Commercial and Personal lines […]
An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let […]
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 […]
SAIA notes in its August newsletter that the Treating Customers Fairly (TCF) Department will cease to exist. It will, in future, form part of the Market Conduct Strategy Unit. This is in line […]
The Registrar of Collective Investment Schemes (CIS) will allow CIS managers to create new funds, known as “side pockets”, to host African Bank Investment Limited (ABIL)’s debt instruments. The move seeks to assist […]
When certainty is lacking, people often make assumptions. As we all know, to assume often leads to making an Ass of U and ME. Speculation about what the new regulatory environment will look […]
The FSB has a new approach to regulation, in line with its additional obligations under Twin Peaks. Mr Jonathan Dixon, Deputy Executive Officer: Insurance at the FSB, reiterated the Regulator’s stance as late […]
