Incentive Driven Miss-Selling
The practice of incentivising independent financial advisors (IFAs) to shift their investment and risk books is possibly the single biggest driver of churning, and is likely to be addressed as part of the […]
Author: Paul Kruger
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.
Read moreExemption to Submit Audited Financial Statements
Certain FSPs received a request from the FSB for additional information regarding their financial statements which, for most FSPs, are due by the end of this month. Category I FSPs who are registered […]
Duty to Disclose Material Terms
On Tuesday we discussed what happens when material changes occur in a client’s health between the time of applying for life cover and acceptance of the risk by the insurer. My colleague Julian […]
Boys will be men
When the junior Springboks take on the pride of England, it will not be child’s play. There is some serious bulk on display in both sides. The big test will not be height […]
When does cover commence?
The latest newsletter from the Long-term Ombud contains two cases where claims were repudiated as a result of a health condition manifesting between the date of application and acceptance of the risk. Non-disclosure […]
Validity of Trusts Questioned
A recent article in Moneyweb states that the validity of more than 85% of trusts on which legal audits have been conducted, can be questioned. Prof Willie van der Westhuizen, head of trust […]
We have seen the Future
While all SA rugby fans are justifiably ecstatic about the senior team’s performance against Wales, the junior Boks made me immensely proud on Sunday. Winning against a determined Baby Blacks side was wonderful, […]
Updated Preparation Material
The updated Juta Pocket Statutes edition of the FAIS Act is now available. LexisNexis also updated their Legislation Handbook and Preparation Guide for the RE 1 and RE5 exams. Queries about the latter […]
Short-Term Ombud Annual Report
There can be little doubt that there is a steady increase in the efficiency of this champion for the fair treatment of consumers. The figures listed below come directly from the Ombud’s report: […]
Governance of Ombud Schemes
The Short-term Ombudsman’s 2013 annual report contains an interesting perspective on regulation of the various Ombud schemes. The Financial Sector Regulation Bill originally proposed a so-called single Ombudsman’s structure. This envisaged that all […]
Die een se dood…
Daar was lanklaas soveel bespreking en bespiegeling na Frans Steyn se onttrekking aan die Springbokspan. Die ouer garde brom dat hy dislojaal is teenoor die land, terwyl die jonger garde voel dis ‘n […]
Intermediary Relationships after RDR
The eagerly awaited discussion document on the review of retail distribution, expected this month, has a long history. The triangular association – whereby the intermediary provides advice to the policyholder but is incentivised […]
Healthcare panel Investigates Private Sector
A panel, headed by retired Chief Justice Sandile Ngcobo, started a market inquiry in January this year to investigate concerns about private healthcare. A Business Day Live report states that the reason for […]
Oiling the Rusty Nails
South Africa, for once, outplayed the All Blacks by clicking into top gear in their opening match of the season, unlike the Kiwis who sputtered like an engine requiring a major service. The […]
TCF in Practice
Treating customers fairly may be the new buzzword, but it has been applied in the industry for quite some time now. A perfect example of this comes from a formal ruling made by […]
The New Threatened Species
In May 2014, the Department of Education and Training published a list of the top 100 scarce skills, based on specific criteria. The document is sub-titled: Call for Comments on the National Scarce […]
