Industry News Summary
Readers who, like us, find value in the monthly summary of industry events published by InsuranceGateway can click here for a copy of the April summary. The very topical issue of “underwriting at […]
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 moreTemporary Disability Offers New Opportunity
FMI, an income protection specialist company, retained True South Actuaries and Consultants to investigate the market for disability cover in South Africa and report on such efficiencies and inefficiencies as are found. Their […]
FAIS Ombud Discontinues Case Fees
The following announcement was published on the home page of the FAIS Ombud: In terms of the Financial Advisory and Intermediary Services Act, read with Rule 9(a) of the Rules of Proceedings of […]
Is it the end of the world as we knew it, my friend?
It seems there are two schools of thought about the future of the financial services industry. The End of the Innocence Last month, an interesting article titled “Adieu independent advice”, sub-titled “Heading for […]
NAIFA No Longer
The National Association of Independent Financial Advisers (NAIFA) was terminated in February, according to an article in the Financial Mail. According to its website, “NAIFA was established in South Africa late in 2010 […]
Inseta Broker Network Update
The Inseta Broker Network provides free membership. Its aim is to assist brokers, and their support staff, with training related matters. I must admit that “eduspeak” often confuses me no end. Hopefully this […]
FSP Status Changes: 19 February to 15 April 2013
In media releases, dated 12 and 16 April, the FSB announced the following figures relating to changes in the status of affected FSPs: The authorisation of 515 FSPs were suspended during the reporting […]
Remuneration Review Part II
This is the balance of the article, the first part of which was published in the Moonstone Investment Indicators last Monday. It appears in the March edition of the ASISA publication “In the […]
FSB Clarifies Press Release
In a media statement, issued on Thursday, 11 April 2013, the FSB advised that Zargogen, trading as Sharepartner, The Shareholder Partnership, TSP, was not a licenced FSP and investors were cautioned not to […]
FSB doen Stappe na Outsurance Uitspraak
Kort na die hofuitspraak waarin daar in Outsurance se guns bevind is ten opsigte van ‘n eis wat hulle verwerp het, het die Reguleerder ingetree om ‘n herhaling te voorkom van wat blyk […]
Intermediary Remuneration Review Part I:
We shared information on this topic before. The March edition of the ASISA newsletter, “In the Loop”, contains new insights which we believe assists better understanding of this very important topic. We quote […]
Section 14A Debarments
The ASISA publication contains a wealth of useful information: ASISA Members reported that section 14A debarments continue to be a very long process. Employers are at risk when appointing or dealing with persons […]
Transfer Frustrations – Section 14
An irate client, who also happens to be an experienced financial advisor, copied me in on a letter to a product provider. It expresses the feelings of so many others who have shared […]
Investors take on Product House
An interesting court case is due on 6 May, when investors in an imploded investment scheme take on one of the major life offices. According to a Business Day report, the main complaint […]
FSB’s Enforcement Committee
The Registrar of Financial Services Providers (Registrar) referred a matter against EQ.FIN (Pty) Limited (EQ.FIN) to the Enforcement Committee of the Financial Services Board. The referral relates to a contravention of regulation 3(b) […]
Disability a Rich Source of Future Business
An independent survey conducted by True South Actuaries & Consultants, and commissioned by FMI Income Protection Specialists in March 2013, revealed that the South African disability insurance gap currently stands at R11.1 trillion. […]
