Positive News from PFA
The Pension Fund Adjudicator published her annual report last week. It contains some very positive indicators, as well as concerns for the industry, and the public. In the message from the Minister of […]
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.
Read moreNew FSB Website
Problems that were experienced in accessing information on the Regulator’s website appear to have been addressed in the new version. The old one was essentially user-friendly to Internet Explorer users only. The website […]
Is Market Conduct Regulation Working?
An article entitled Regulation not crippling sector, FSB contends by Gillian Jones in Business Day provides two differing perspectives on this issue. On the one hand, there is the view of Johan van […]
Sharp rise in suspect money deals
The Financial Intelligence Centre (FIC) told Parliament that the number of suspicious financial transactions in SA in 2012-13 skyrocketed by 176% compared to the previous financial year, notes a Business Day report. FIC […]
FSP Numbers Update
The impact of regulation on the number of people in the industry remains a major source of interest for many people. It could stem from a need to know that there is safety […]
Products and fees structures need simplifying
In a competitive environment, cost disclosure enables price comparisons, leads to price competition and results in higher investor return. The practice, however, is met with an almost united “can’t do” response from the […]
How Pivotal a Role does Managers Play in Goal Achievement?
The new Premier League season in England is underway, and one of the main topics of conversation is the impact that the change in managers may have on the success of the teams […]
Funeral Industry Arrangements Under Review
Co-administration agreements (also referred to as profit-sharing or 80/20 agreements) between insurers and funeral parlours or funeral administrators are under the magnifying glass of the FSB. This is very much in line with […]
No Role Model – Insurance company under the spotlight
An unlicensed direct insurer, Model Insurance, who claims to have been doing business since 2007, is currently under investigation by the Regulator. Their activities came under the spotlight after their alleged failure to […]
Debarments a Sorry State of Affairs
“The volumes of cases for debarments are mind boggling as they paint a picture of an industry replete with misfits and incompetent representatives. Simply put, the public is at risk.” Harsh words from […]
Regulatory Overkill?
There are some who will say that rugby is not as serious as work – it is much more important. Recent incidents in the sporting world confirmed a theory also held by many […]
FSB Internet Technical Specifications
If you experience problems accessing information from the FSB website, please read the information below. This is copied directly from the Regulator’s website. Internet Browsers The FSB developed this website to work correctly […]
Old Mutual Wealth Initiatives cause stir
Two media articles on the new Old Mutual Wealth business model, published on Wednesday, will certainly cause more than just a stir in the industry. As usual, the mention that commission would no […]
New subcategories of financial products
The draft document published by the FSB on proposed changes to the fit and proper requirements makes provision for further distinctions between certain product categories. In 2012 the Registrar granted an exemption to […]
Used Spare Parts Kosher Again
A few weeks ago, we reported on proposed legislative changes which would place a ban on the sale of spare parts from scrapped vehicles. A report on IOL News states that sanity appears […]
Commission Impact on Client Returns
Rob Rusconi shocked the industry in 2004 when he did a presentation to the actuarial society on the impact of expenses on retirement provision of individuals. In the ensuing investigation by the national […]
