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.

Advice Gap Broadens in the UK

It is difficult to understand how the UK Regulator managed to misinterpret the possible reaction to its implementation of Fees for Commission. A report in the Telegraph comments on a survey conducted by […]

Update on Sign-on Bonuses

The swift reaction by the FSB to finalise this matter needs to be commended, particularly if one takes into account that the process, which was announced on 1 September, included consultation with the industry. […]

Conflicting Accounts Regarding Cambist

According to Moneyweb, some firms with close ties to Cambist are experiencing problems. A month ago, OneLaw indicated that it would be offering voluntary severance packages to staff who wanted to leave. Earlier […]

Causal Event Charges and the RDR

A vast number of interpretive articles were published on the retail distribution review discussion paper since its publication. Unfortunately, a number of these added to the confusion, rather than provide clarity on this […]

A costly Oversight

A recent determination by the Ombud highlights a number of important issues when it comes to an advisor’s obligations towards clients. The complainant enjoyed comprehensive cover with Zurich Insurance. On 8 April 2013, he requested […]

Equivalence of reward to be reviewed

The Retail Distribution Review (RDR) sees unequal benefits accruing to certain distribution channels as a problem requiring change. The current Regulations applicable to the Long-term Insurance Act provide that the Registrar may determine […]

Prioritising RDR Proposals

The FSB proposes to implement the RDR proposals in three broad phases: Phase 1: Changes to be effected within the existing regulatory framework, using existing subordinate legislative and administrative powers. These changes will […]

Financial Planning under RDR

Contrary to what many appear to think, the Retail Distribution Review is not about abolishing commission and forcing brokers to negotiate fees directly with clients. It is in fact a far wider process […]

RDR and Short-Term Insurance

The discussion on the retail distribution review conducted by the FSB provides for the following proposals specifically as it relates to the short-term industry: Remuneration for selling and servicing short-term insurance policies It […]

Retail Distribution Review Discussion Paper

While the general expectation is that this document’s sole intention is to replace commission with fees, it is far more encompassing than that. We publish below some of the aspects contained in the […]

Personal Service Provider Tax Status

It is that time of year when a very annoying, yet compulsory, questionnaire is being circulated. SARS needs confirmation about your personal service provider status, and each product house that you have contracted […]

Disclosure Obligations

The current media spat between attorneys Ronald Bobroff and Partners and Discovery Health has a much wider bearing on the industry than just that of the healthcare environment. In essence, the law firm […]

Moneyweb Focus on Unsecured Lending Practices

The platform which offers investors a guaranteed annual return of 19.5% was the subject of a number of articles published in Moneyweb recently. The article titled, Are Cambist’s contracts genuine, points out that […]

Healthcare in South Africa

The eighth edition of Healthcare in South Africa by Liz Still is now available. The focus of the 2014 edition is the regulatory environment and the current profile of the private health sector […]

Draft Tax Law Amendments

There will be in a delay in the implementation of preservation reforms, including the increase in the contribution cap to 27.5% announced earlier, as well as the simplification of contributions between the different […]

Collusive Conduct in Automotive Industry

A media release by the Competition Commission on 13 October states that it has launched investigations into “…price fixing, market division and collusive tendering in the market for the manufacture and supply of automotive […]