FAIS Act under Threat?
An extremely important court case, which could have severe implications for the FAIS Act, is currently under way in Pretoria. At stake is the FAIS Ombud’s jurisdiction to make determinations about investments in […]
The government takes banks to task over what it sees as unfair lending practices, proposing mandatory disclosures of declined home loans.
Read moreAn extremely important court case, which could have severe implications for the FAIS Act, is currently under way in Pretoria. At stake is the FAIS Ombud’s jurisdiction to make determinations about investments in […]
Mike Brown, Managing Director, etfSA.co.za The NewGold ETF (GLD) issued by Absa Capital, is the most successful South African ETF measured by size. First listed on the JSE in November 2004, it now […]
ASISA’s Medical & Underwriting Standing Committee (MUSC) have requested our assistance in a survey of intermediaries on Standardised Critical Illness Definitions (SCIDEP). This applies to all advisors involved in life assurance. It aims […]
Concerned Trainer writes It is encouraging to see representatives are questioning the legality of their actions, but should they not know this if they have passed the RE Level 1 exam? During the […]
Callers to our offices sometimes express frustration trying to communicate with the FSB, and end up using us as a source of information. We obviously regard this as a major compliment, and try […]
Is a bank liable when an employee gives misleading investment advice? A recent finding by the FSB’s Appeal Board indicates that this could in fact be the case. Space does not allow us […]
While this heading may initially raise a collective sigh of exasperation, those who operate within the law should actually heave a sigh of relief. At the FSB’s annual Conference in Cape Town yesterday, […]
The first telematic broadcast by the FSB in its new season of communications with the industry was broadcast last week on 18 July 2012. John Eksteen of Analytics Consult discussed investment management from […]
We publish below an information circular published by the South African Institute of Chartered Accountants (SAICA) to assist readers in understanding how the new Companies Act affects their business in terms of audit […]
The Regulator published a guidance note last week on the payment of commission and fees in the financial services industry. It affects both short- and long-term insurers, and includes guidelines on practices which […]
Many years ago, I was playing golf at Voortrekkerhoogte. At one stage, we walked past 1 Military Hospital, or 1 Mil, as it is better known. One of the players in our four […]
An article in Sunday’s Rapport (15/7/2012) discusses the upcoming High Court case where a broker is disputing the jurisdiction of the FAIS Ombud. What is of particular interest to our readers, is the […]
Creating awareness helps fight an atrocity which has taken on crisis proportions. Dr. William Fowlds, a wildlife veterinarian, tells the story of Geza, a white rhino, that was callously mutilated by poachers and […]
This article concerns the difference between legislative requirements and practical reality. A recent conversation with a reader concerned the requirement that financial statements must be submitted within four months. Before, FSPs had six […]
In all endings, there is always a beginning. On 30 June, we submitted the last of our licence applications to the FSB as a “recognised licensing body”. This status was afforded to us […]
The introduction of the level 1 regulatory examinations in November 2010 shifted the focus from product training to RE preparation. Up to the end of 2009, when FSPs and reps needed a minimum […]