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.

Sub-agent Accountability

Proposal I in the RDR draft document (see link below) provide for the inclusion of specifically identified forms of referrals and leads in the regulatory framework as a form of financial intermediation. It […]

Fitch Withdraws FSB Registration

Fitch Ratings announced on 4 September that it has decided to withdraw its Financial Services Board (FSB) credit rating agency registration of its South African subsidiary, Fitch Southern Africa (Pty) Ltd. “The decision […]

Writing endowments in your clients' best interests – Patrick Cairns

Last month’s article, on whether there is still a place for endowments, drew a range of responses. Given some of the strong opinions expressed, it is worth considering how IFAs can ensure that, […]

Consumer Education: A Joint Responsibility

Education is possibly the single biggest challenge facing South Africa. Current issues like poverty and unemployment can never be eradicated unless there is a major about-turn in the farce currently being dished out […]

Retail Hedge Funds Coming to SA

In February, the Minister of Finance declared hedge funds as collective investment schemes with effect from 1 April 2015. All South African hedge fund operators are required to apply for registration as a hedge fund […]

Wheels of justice grind slowly

The latest decision by the FSB Appeal Board concerns a case where the Registrar debarred the appellant for a period of three years from rendering financial services in terms of Section 14A(1) of […]

RAs in the world of simple and cheap – Patricia Holburn

You can be young without money, but you can’t be old without it. Tennesse Williams Retirement reform, RDR and TCF all speak to better outcomes. Old style, conventional retirement annuities have been singled […]

Likelihood of Financial Prejudice

We discussed the importance of when a client’s right to lay a complaint with the FAIS Ombud expires in last week’s Moonstone Monitor. To recap: a client has three years to approach the […]

Is there still a place for endowments? – Patrick Cairns

For many younger investors and IFAs, the idea of endowment policies seems a little old fashioned. These were vehicles that our grandparents used before collective investment schemes effectively democratised investing. Their reputation was […]

Time Barring on FAIS Ombud Complaints

A recent appeal tested whether the FAIS Ombud was correct in finding that the appellant’s complaint was time-barred in terms of section 27 of the FAIS Act. The appellant lodged a complaint, claiming […]

Moonstone Training Extended

We are proud to introduce a major new player in the financial services training field. After the acquisition of PSG Academy earlier this year, Moonstone merged its existing training offering, Moonstone Intellectual Capital, […]

Health Insurance Policies and Medical Schemes

News of the imminent release of low cover medical schemes could well return the focus to the unnecessary intervention in something that works very well. Background The First Draft Demarcation Regulations, released in […]

Structured products still offer offshore opportunities even with a weak rand

Investing abroad can be complex for South Africans. Though exchange controls were relaxed over the past few years, for the most part investing overseas requires investors to have deep pockets and a crystal […]

Prescribed Medical Benefits – 'In accordance with' replaces 'paid in full' – Patricia Holburn

Since the introduction of Prescribed Medical Benefits (PMBs) in 2004, definitions, inclusions, cost and reviews, have raised concerns. PMBs were well intentioned – make sure members have cover for emergencies and big events. […]

Remuneration on Tax-free Savings – Patrick Cairns

The introduction of tax-free savings accounts on 1 March this year was a positive step from National Treasury. Effectively the government has put its money where its mouth is with regards to encouraging […]

ASSA Feedback on RDR Proposals

MoneyMarketing recently reported that 50 members of the Actuarial Society of South Africa (ASSA) agreed to assist the FSB with the assessment of the feedback received on the proposals contained in the Retail […]