Proteas Host India
The much anticipated series between the Proteas and India is upon us. Although South Africans may feel cheated with the reduced tour schedule (3 ODI’s & 2 Tests), we must make the best […]
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 moreCompliance Officer Presentation
The FSB’s presentation for compliance officers provided a lot of practical insight and advice. Whether you are an external or internal CO, there is a lot of food for thought and consideration on […]
Binder Regulations Update
One of the presentations at the FSB’s Regulatory seminar provided the latest information on binder regulations. After publishing three information letters, the Regulator requested information from insurers to determine the state of compliance […]
Keshwar versus FNB Determination
The most recent Ombud determination concerns a complaint against First National Bank by a businessman, Craig Keshwar, who placed funds for investment with a bank manager, De Ghee, employed by FNB. The misappropriated […]
Close but no Cigar
This may well be the theme for the Proteas, going forward, unless someone finds a way of teaching them that a series starts with the first game, not the second. My own views […]
Financial Intelligence Centre Directive 01/2013
A recent request from the FIC contained a request for all accountable and reporting institutions to ensure that their records at the Centre are up to date and accurate. The actual directive spelling […]
Fees for Service Redefined
The Review of Retail Distribution has certainly taken an interesting turn from where we thought the Regulator was heading with this very important issue a year ago. The term, “Fees for Service”, implied […]
FSB Fees Increase
A notice, published in the Government Gazette on 20 November 2013, formalised the increased fees payable to the FSB in respect of certain functions. Before we compare the new fees to the old, […]
Keeping the Registrar up to date
The FSB regularly publishes details of changes to the licensing conditions of FSPs. These include new licence applications, as well as withdrawals and suspensions of licences, and reinstatements. To date, it would appear […]
Compliance Consolidation
The introduction of the FAIS Act brought a number of additional layers of cost which providers of financial services had to absorb. The majority of the tentacles of this octopus have compliance written […]
Information Letter on Benefit Amount Increase for Assistance Policies
Further to the recent increase in the maximum amount announced by the Minister of Finance, an information letter was published to provide guidance on the correct interpretation of the information. The change stems […]
TCF Guide for small FSPs and IFAs
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 […]
A Fitting End
The demolition job on France on Saturday summed up where the Springboks currently are. Much has been said about the game itself, so I will focus on a few aspects not related directly […]
Pluck the Golden Rooster
Stade de France, the national stadium of France, is situated just north of Paris in the commune of Saint-Denis. It has an all-seater capacity of 81,338, making it the sixth largest stadium in Europe, and is used by both […]
Retail Distribution Review Update
Background Up to the end of the previous century, regulation of financial services was by and large left in the hands of the industry itself. The advent of consumerism and money laundering, amongst […]
Positive Industry News
In a previous article we reflected on the need for more publicity regarding the positive contribution of the financial services sector. The following information, published by ASISA, should be reassuring to both the […]
