How the process to make withdrawals from the savings ‘pot’ will work

Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.

Please Load-shed now

Hilton Tarrant pleaded in an article on MoneyWeb for Eskom to apply load-shedding on a daily basis until May in order to do the urgently required maintenance to prevent unexpected down times. I […]

The dreaded DOFA (Date of First Appointment) deadline is looming for all those people appointed between 30 June and 31 December 2012, and who have not yet successfully completed their Level 1 Regulatory examinations. You have until […]

The Cost of Fixing Product Provider Problems

Your article on remuneration for different services made a lot of sense to me, and certainly deserves further discussion. As the IFA gets squeezed from all sides [extra work, less income & increased […]

Dissecting the Numbers

The figures published in the Retail Distribution Review discussion document provide a very clear picture of the current make-up of the industry in terms of market segmentation of advisors. In the past it […]

RE Update – Pretoria Centre

Please note that no examinations will be scheduled for the period 16-03-2015 up to 10-04-2015 at Pretoria Brooklyn Bank Forum Examination Centre. We are upgrading the facility to provide a wider range of […]

Audio Recording of Advice

I found a short article published in the Australian “ifa” online newsletter very interesting. The JBS Financial Strategists boss and 2013 AFA Adviser of the Year (Jenny Brown) told ifa that she originally […]

Lead Generator Fined R250 000

The Registrar of Financial Services Providers (the Registrar) referred a case against Talksure Trading (Pty) Limited (the Respondent) to the Enforcement Committee of the Financial Services Board. The referral relates to a contravention […]

Who should pay the Piper?

While there is clarity on the existing remuneration system, which is essentially commission driven, proposals under the Retail Distribution Review aim to differentiate between various kinds of services, and establish fair remuneration for […]

Regulatory Exam Update

Comment on “Material terms and Conditions”

In response to an article: “Disclosure of Material Terms” we published last week, a reader responded as follows: Dear Paul, No broker can possibly explain every single clause in a multi-page legal contract […]

Consolidation of Legislation

The Draft Market Conduct Framework, published in December last year, identified the diversity of legislation regulating different sectors of the industry as one cause for the Regulator’s inability to supervise effectively across the […]

Daily RE Questions

1 What exam must I write? Both the RE5 and RE1 are Level One exams. RE5 is for Representatives and RE1 for Key Individuals. The RE3 exam is for licence category II candidates. […]

Reinstatement of Debarred Representatives

We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]

Improving Internal Complaints Mechanisms

The “Draft Market Conduct Framework”, published in December, is certainly a goldmine in terms of trying to gauge what the future holds for the industry. The information published below is extracted from it. […]

Moonstone RDR Workshops

The proposals contained in the Retail Distribution Review discussion paper envisages some of the most drastic changes to the retail financial services industry since the implementation of FAIS. The 55 proposals contained therein […]

Update from Cambist

Hanna Barry reports in Moneyweb Today that Cambist published a newsletter to investors in which they refer to an upcoming court case which may prove to be good news for investors who made […]