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.
Read moreTwo conflicting headlines in recent industry newsletters raise the question whether clients are treated fairly by the industry. “Complaints to (Long-term) ombudsman reach record number.” “South African consumers are very satisfied with the […]
There was a time when actuaries at product houses spent endless hours developing a product, packaging it, and then sending it to the marketing division with the message: “Go out there and find […]
Ms Leanne Jackson, Head of Treating Customers Fairly at the Financial Services Board recently responded to a Moonstone article published on the Insurance Gateway website: An article headlined “Not quite Treating Customers Fairly?” […]
This topic is covered in FAIS Newsletter 16, published on 13 December 2013. It is of particular importance to FSPs who tend to think that complying with the FAIS Act and the General […]
Managing your practice in terms of the FAIS Act and the General Code of Conduct may be time-consuming, but at least there is a set of rules to guide you. The advent of […]
Sometimes, something that appears insignificant can have rather important ramifications. The Regulator recently requested all registered short-term insurers who are members of the Short-term Ombudsman (OSTI) to provide full details of personal lines […]
The fair treatment of clients by certain product providers was recently questioned by Bruce Cameron in an article on causal event charges. A key part of ensuring proper market conduct is a new […]
We predicted earlier that 2014 would be a bit of a water-treading year in so far as new regulations and changes relating to financial advice and intermediary services are concerned. This was based […]
We frequently receive enquiries about legislative changes, specifically regarding Treating Customers Fairly (TCF) and the Protection of Personal Information Act (POPI). Some product providers have even requested advisors to sign TCF declarations. As […]
Last year, we published an article titled Charges in Respect of Investment Policies. I referred the matter to the FSB for comment, particularly in view of the following opinions expressed by the Long-term […]
Treating Customers Fairly will impact on the whole industry. To date, most of the communication was aimed at corporates and industry bodies, with little information flowing through to smaller FSPs and independent financial […]
The presentation by the FSB focussed on how the six desired outcomes of treating customers fairly will impact on the industry. For this discussion, we will only focus on three which will affect […]
The Treating Customers Fairly Roadmap provides some guidance to the planned roll out of this initiative, with enforcement indicated as starting in January 2014. The fact that it has its own unique little […]
All the talk, or rather, the lack of talk about TCF, has a left a lot of us in the lurch as to just where we stand with this initiative. The one bit […]
When does Treating Customers Fairly (TCF) become a reality? In the original planning, January 2014 was indicated as the planned date for implementing legislative changes envisaged in the regulatory framework. If this is […]
TCF is closer than we think. It appears to be on the FSB’s radar screen already, despite expectations that it will only become a reality next year. In an article we published on […]
