Think TCF Part Six
Outcome Six: After Sales Service The final outcome requires that clients do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint. The word “unreasonable” is […]
Best Practice
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
FSB Licence Applications
At the recent regulatory exams in London, it came to our attention that firms operating in the UK and other countries experience substantial problems when applying for licences to operate in South Africa. […]
Closing the Loop
In view of an article I wrote some time ago, a radio station approached me this week to take part in a discussion concerning investments that offer exceptional returns. I politely declined as […]
Think TCF Part Five
Outcome 5 of Treating Customers Fairly requires that “Clients have products that perform as FSPs told them it would, and the service is at an acceptable standard, and what they expect.” It is […]
Think TCF Part Four
Outcome 4 of Treating Customers Fairly requires that, where clients receive advice, the advice is suitable and takes account of their circumstances. The apparent simplicity of this statement is very misleading. The guide […]
New Directive from the FIC
Section 29(3) of the Financial Intelligence Centre Act states that all persons who submitted or are obliged to submit a report, may not disclose that fact or any information regarding the contents of […]
Tax free savings accounts
The information below was extracted from the draft explanatory memorandum on the Taxation Laws Amendment Bill, 2014, published on 17 July 2014. Tax free savings accounts are proposed from 1 March 2015 as […]
Consumer Credit Insurance Workshop
The National Treasury and Financial Services Board invites the public to attend a Consumer Credit Insurance (“CCI”) workshop which will discuss the findings and focus areas arising from the “Technical Report on the […]
South Africa’s securities regulation tops the world
The regulation of securities exchanges in South Africa was ranked first in the world, for the fifth time in a row, in the World Economic Forum (WEF)’s 2014/2105 Global Competitiveness Report. This is […]
FedGroup Views on Guarantees
By John Field, CEO FedGroup The recent crisis enveloping African Bank brings to mind the 2002 banking crisis that crippled Saambou – similarly hobbled by risky micro-lending practices. Despite African Bank performing well […]
Qualifications Deadline
A representative appointed after 1 January 2010 for the first time, and for the specified sub-categories, is required to have an approved qualification as part of the fit and proper requirements. If he does not, […]
FICA Exemption
The Financial Intelligence Centre published Public Compliance Communication (PCC) 29 to provide guidance on the application of Exemption 4 of the FIC Act which provides for the reliance by one accountable institution (the […]
Sixty Years on
This Elton John song came to mind when I read two publications on retirement planning last week: “Who’ll walk me down to church when I’m 60 years of age/When the ragged dog they […]
Risk Profiling in South Africa
Historically risk profiles were used to lead customers to buy specific products. Few of these plans had the actual welfare of the client at heart. Some of the more modern versions are often […]
Being A Curator Is Not For Sissies
By Denis Lloyd and Jerome Veldsman of Walkers Inc. (http://www.walkers.co.za/) Due to the vagaries of life, especially old age, many a person (let’s call her “Amy“) has difficulty managing her own financial affairs. […]
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 […]
New duties imposed on trustees by the amendments to the Pension Funds Act
The Financial Services Amendment Act came into effect on 28 February 2014 and amends the Pensions Funds Act (“the Act”). It introduces an assortment of new duties and responsibilities for pension fund trustees. […]
