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.

Changing Insurers

I read an article last week concerning Regent cancelling all its commercial and personal lines policies. Naturally, these clients will be forced to find alternative cover. Advisors assisting such clients must take care […]

Am I my client’s keeper?

Most of the Ombud determinations we reported on, had a negative outcome for the advisor involved. It is nice to come across one where the Ombud found in favour of the broker. This […]

2013 Compliance Reports

The information below was copied from FAIS Circular 5. The Compliance Reports for 2013 were published on 29 May 2013 in the Government Gazette as the following Board Notices: 105 of 2013 Category […]

Amended guidelines on Rep registers and debarments

FAIS Information Circular 4 of 2013, dated 27 May 2013, provides guidance regarding: Changes to the rep register, which was last amended in December 2009 The introduction and implementation of an electronic platform […]

Hollard and Etana Merge

Judging from the media release on this transaction, it appears that there are many reasons why it is likely to be a huge success. Both entities are highly successful, and the merger will […]

2013 Annual FPI Convention and Expo

This year’s FPI conference boasts a host of industry authorities who will be tackling topical and current subject matter. The programme includes practical workshops and panel discussions by leading experts and opportunities to […]

Intermediary Service Definition Revisited

Common questions asked since FAIS was introduced include: “Does this constitute an intermediary service?” or “Must I be an FSP or representative?” The judgment on 16 May 2013 in the Supreme Court of […]

FSP Licence Update

In the latest announcement by the FSB on the status of FSP licences, we see for the first time that failure to write the regulatory exams feature in the reasons for suspensions and […]

Justice delayed…

The Fidentia saga first came to light in March 2007 when J Arthur Brown and Graham Maddock were arrested. In February 2008, Maddock entered into a plea bargain and was sentenced to seven […]

2013 Annual FPI Convention and Expo

The 2013 Annual FPI Convention is just around the corner. Cited as one of the most prestigious and comprehensive conferences in this field, and with 800 delegates already registered, the convention promises to […]

More on Hippo Comparative Services

Our article on Monday was based on the contents of an FSB media release. We were unable to verify the facts against the actual Enforcement Committee order as the FSB website was unavailable […]

Hippo Comparative Services Fined R1 million

We received the following media release from the FSB over the weekend: The Registrar of Financial Services Providers (Registrar) referred a case against Hippo Comparative Services (Pty) Ltd (the Respondent), FSP number 16357 […]

Address changes

Drafting this article reminds me of the saying “preaching to the converted”. If you are reading this, then obviously your address on our database is correct. We do, however, receive many calls […]

FSB Information Letter 3 on Binder Regulations

The purpose of the document is to provide guidance on: Activities that constitute binder functions Remuneration payable by the insurer to the binder holder and The Registrar’s interpretation of the regulations from a […]

FSB Presentations in 2013

The FSB published a list of communication events to be hosted by the FAIS Division between June and December 2013. The events are aimed at FSPs, key individuals, compliance officers and representatives. Please […]

FSB warns against NaxaInvest

In a recent press release, the Regulator warned the public against conducting business with NaxaInvest. It is not authorised as a financial services provider and is not a representative of an authorised financial […]