Fraudulent medical aid claims
A recent article on the Health24 website had me reaching for heart pills I do not have. Discovery Health CEO, Dr Jonathan Broomberg, revealed that his company recovered R400 million on behalf of its […]
Industry News
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.
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FPI 2016 Award winners announced
The Financial Planning Institute (FPI) of Southern Africa hosted its annual Awards Ceremony Gala Dinner on Monday night, where it recognised leaders in the financial planning profession for their outstanding level of professionalism […]
Qualification deadline at hand
People appointed before 2010 had various options regarding prescribed qualifications, including obtaining a certain minimum number of credits, depending on what categories they were licensed for. My alert colleague, Paull Lawrence, sent us […]
2012 Liquidity Exemption falls away
The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund. […]
2016 FIA Awards
The prestigious 2016 FIA Awards gala dinner took place on Thursday, 2 June 2016, and was attended by over 1 000 industry members. The awards go to the insurance, underwriting and investment brands that provide the […]
Long-term Ombud Performance Review
Judge Leona Theron, a judge of the Supreme Court of Appeal and Chairperson of the Long-term Ombudsman Council, made mention in the 2015 annual report of an independent review of the office of […]
Long-term Ombud Annual Report 2015
The office of the Ombudsman for Long-term Insurance (OLTI) needs to be commended for the quality and simplicity of its 2015 annual report. Below are some interesting extracts from the report. General overview […]
Regulatory Examination Certificate Fraud
FAIS Newsletter 20 contains a warning for those who think that falsifying a RE certificate is the easy route into the industry or complying with fit and proper requirements: The FSB encountered numerous […]
FSB Public Warnings
The Regulator recently issued three warnings to the public via media releases: Eastern Cape Tracing Agents “A certain Mr Matshaya is operating as a tracing agent in the Mdantsane area in the Eastern […]
FSP and Representative Responsibilities
It is evident that the existence of a service contract and/or mandate is not sufficient to safeguard an employer in instances where a representative acts outside of its stipulations and parameters. Despite this, […]
SCA Finds in favour of Moneyweb
Moneyweb reports: “The media and any person has an unqualified right to access the shareholder registers of any company in South Africa; such a right is essential for effective journalism. The motive for […]
Unlicensed Entity fined R50 000
KB Cash Loans from Kuruman recently featured in a settlement agreement with the Registrar of Financial Services for a contravention of the FAIS Act. For about a year, from November 2010, it advised its […]
Amendments to Social Grant Deductions
The Minister of Social Development, Ms Bathabile Dlamini (pictured above), issued a media release on Friday, 6 May, to explain the background to amendments to the Social Assistance Act, 2004, published on the same […]
Community Schemes Ombud Envisaged
Legalbrief reported on 4 May that an ombudsman for sectional title and community schemes will be ‘formally established’ during the current financial year – giving practical effect to the 2011 Act. Noting the ‘unexpected […]
FSB Responds to Hunter Claims
An article in Personal Finance titled Tshidi hits back over pension fund allegations, states: Financial Services Board (FSB) chief executive Dube Tshidi says the financial services industry regulator will apply to the Pretoria […]
