A draft policy document on accreditation for brokers and broker organisations was published for comment by the Council. Please click here to download a copy. Affected parties have until 13 January 2013 to […]
The highs and lows of 2012 will differ from person to person. The one thing we will all agree on, is that it was not a boring year. One aspect that stands out […]
This circular provides information on the level 1 regulatory examinations. The following aspects are addressed: The extension of the re-write deadline for the RE3 (Key Individual: Category II and IIA) and RE4 (Key […]
The title of this article reminds me of a Dickens character. From immediate reactions we received, it appears that not all those who missed the June deadline are artful dodgers. Some simply expected […]
The FSB contacted us, following last week’s article entitled What’s Sauce for the Goose to get more information about the correspondence between a broker and their own consultant. We used the opportunity to […]
A constant refrain in comments from readers is the number of service providers who, in their opinion, jumped on the band wagon to make money out of advisors. Here is an opportunity for […]
The article we published last week certainly elicited wide reaction. What does the Act say? Section 44 on “Prohibition on inducements” reads: No person shall provide, or offer to provide, directly or indirectly, […]
The introduction of the FAIS Act changed the rules of the game as far as programmes used to determine client needs, are concerned. Perhaps it is more accurate to say that it should […]
These accounts, according to the circular, are predominantly provided by Investec and Nedbank. The CMS Account is similar to a trust account maintained by professionals for the purpose of holding money on behalf […]
The issue of inducements to effect insurance, which we discussed in Monday’s newsletter, is fast becoming a very hot topic, and it does not only relate to short-term products. One of our regular […]
The content of an article in Moneyweb entitled Rogue broker ignores FAIS Ombud was covered in this newsletter in June. Frank McCarter and his wife are one of many investors who received bad […]
In the last two weeks we saw a spate of media releases on Administrative Penalties meted out by the Enforcement Committee of the Financial Services Board. It is difficult to determine the basis […]
As reported recently, the Insurance sector SETA are making 1 000 vouchers available to candidates who want to acquire a recognised “full qualification”. This offer is open to all small enterprises, employing up […]
Four years ago, former FNB financial adviser, Clynton Cotton, pleaded guilty to stealing R12 million from his clients. One of them, Carmen Goodman, finally won her court battle with the bank. FNB was […]
Under the proposed Financial Services Laws General Amendment Bill, the Financial Services board will be protected from legal liability for their bona fide actions, even if these are negligent. According to a report […]
Last week, we commented on the fact that there are only 2 492 sole proprietors in the industry, based on the latest FSB statistics. One reader, speaking from personal experience, wrote as follows: […]
I am quite proud to share with you a report received from CENCE, our Social Investment initiative. The name CENCE is the acronym for “Consumer Education through National Collaborative Enablement”. Cence, in partnership […]
