The following section appears in the implementation document published on 1 February 2013. Moving towards a twin peaks model of financial regulation will result in the South African Reserve Bank’s organisational design changing […]
Die Toets vir Geskiktheid (The Suitability Test) Die vereiste dat adviseurs ‘n omsigtigheidstudie (due diligence) moet uitvoer ten opsigte van produkte wat hulle aanbeveel, word verder as volg toegelig in die Ombud se […]
The original policy document, A safer financial sector to serve South Africa better, published in February 2011, announced a wide-ranging set of reforms to improve the institutional structures to support financial regulation. The […]
The FSB would like to encourage all its stakeholders and interested parties to participate in the consultation process initiated by the publication of A safer financial sector to serve South Africa better in […]
The article we published last week was based on information contained in the FSB FAIS circular 13. This proved to be a rather unfortunate number. We publish below relevant excerpts from the article, […]
Newsletter 13 provides guidance on how you can ensure that your records at the Regulator are up to date. The onus is on you to ensure this, so please follow these easy guidelines: […]
The latest figures released by the FSB shows that 313 FSPs had their authorisation suspended between 4 December 2012 and 24 January 2013. There were relatively few other “offs” and “ons”, with the […]
The latest newsletter from the FSB focuses on communication with the FSB. A number of readers were unable to open the link contained in e-mail sent on Friday. We obtained a copy this […]
“The FAIS Ombud’s role is to resolve disputes between financial services providers and their clients in a procedurally fair, informal, economical and expeditious manner.” Thus reads the home page of the Ombud’s website, […]
We publish below a press release by Bowman Gilfillan: Employers failure to pay pension fund contributions to become a criminal offence An employer’s failure to pay contributions to a pension fund will become […]
Alle maatskappye en beslote korporasies is wetlik verplig om jaarliks opgawes in te dien by die kommissie vir maatskappye en intellektuele eiendom (CIPC). Lesers sal onthou dat daar so ‘n paar jaar gelede […]
A document containing National Treasury’s responses to comments on the Financial Services Laws General Amendment Bill was published recently. The 110 page document makes for heavy reading if you are not a legal […]
We found the following on the SARS website: Analysis shows that the compliance of tax practitioners is low. For example, tax practitioners owe more than R260 million to SARS in their own personal […]
Lephatsi Financial Services acquires 35% stake bringing substantial skills and additional BEE credentials to the business 10 December 2012 New shareholders will further contribute to Grant Thornton Capital (GTC) being a substantial contender […]
The Financial Services Laws General Amendment Bill will see substantial changes and updates in respect of 11 different laws affecting the financial services industry. According to Business Day, the national treasury will attempt […]
This legislation will also affect all financial advisors who provide tax services to their clients. With the promulgation of the Tax Administration Amendment Act at the end of last year, all tax practitioners […]
The publication of Board Notice 202 of 2012 brings about very important changes to the definitions of “Annual Expenditure”, “Liquid Assets” and “Management Accounts”, amongst others. This may impact significantly on your financial […]
