SARS pays back R10bn, but some taxpayers’ refunds are being withheld

Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.

Amazing Investment Offered…

A reader sent me a pamphlet from a company called Aspaya. They offer an unbelievable return on investment, and I use the word unbelievable intentionally. “TalentShare Wealth Creation Program I is a six […]

Bluezone Directors Held Liable for Losses

In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]

FSB Telematics Broadcast 3 October 2013

The agenda of the 3rd of October’s broadcast is very similar to the workshop intended for licence category II and IIA FSPs, and includes the same speakers. 3 October 2013 – Satellite workshop […]

When is a complaint out of time?

The recent Bester determination by the FAIS Ombud provides guidance on the requirement that a complaint must be lodged within three years. We often understand this to mean from the time the advice […]

FSB Warning Against Unlicensed Entities

The FSB urgently called on the public to refrain from conducting business with the following entities: Ledimar Ledimar Financial Services (Pty) Ltd; Ledimar Stock Trading (Pty) Ltd; and Ledimar Investment Holdings CC. Their […]

Important FSB Presentations

Investment Workshop – 2 October 2013 – Old Mutual Conference Centre – Pinelands This workshop is intended for licence category II and IIA FSPs and will cover the following topics: Unregistered investments, due […]

Physician Heal Thyself

The Council for Medical Schemes (CMS) published its annual report on 3 September 2013. The 5-page media release contains some very interesting statistics about trends in the industry, as well as a summary […]

The importance of Effective Oversight

The latest determination by the Ombud contains several important pointers for advisors, particularly from a record keeping and oversight perspective. The Van Vuuren couple, at the respective ages of 66 and 69, effected […]

Prohibition of Inducements

The word “prohibition” always conjures up images of Al Capone and his merry men, armed with Tommy guns, outsmarting the cops who had to apply the ban on liquor which the majority of […]

The Challenge of ethics and professionalism Or how to create your own Twin Peaks

The last decade of our profession has seen tumultuous changes in regulation and consumer awareness. The changes affected both financial advisers and product providers. The next wave of regulation, from TCF to twin […]

Managing an FSB Compliant Practice

The FSB presentation on Tuesday, 3 September, is possibly the most comprehensive, up to date guide available on managing a practice, and the DVD belongs in the library of everyone who is serious […]

Edwafin Chickens Come Home to Roost

Two FAIS Ombud rulings were published on Friday, both concerning investments made via an FSP in Edwafin, a venture capital company in KZN which offered 18% guarantees on debentures. Edwafin started advertising aggressively […]

Telematic Broadcasts Keeping you Updated

These communication sessions offer the industry an opportunity to communicate directly with the Regulator on practical matters. When I looked at the registration page this morning, there were still a number of empty […]

Thank your Lucky Stars you’ve got Protection*

Older readers may well remember the Joel Mervis column in the Sunday Times which usually started with: “There I was, sitting drinking Slivovitz, waiting for a war to break out.” I was reminded […]

New Definition of CPD

In the introduction to this proposed amendment, the Regulator states: The FSB, through the General Financial Services Laws Amendment Bill, 2012, proposed the insertion of a definition for “continuous professional development” in the […]

FSB Proposes Amendments to 3 Board Notices

In a notice published last week, the FSB requests input from the industry on proposed amendments to three Board Notices: The 2008 Determination of Fit and Proper Requirements The 2008 Determination of Qualifications […]