Professional Indemnity: Check the Fine Print
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 […]
Industry News
Save the Rhino
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 […]
Shall the Twain ever meet?
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 […]
Assistance with Licensing Requirements
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 […]
Training Re-Focus
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 […]
Our own Second Transition?
The financial services industry cannot be seen in isolation to what happens in the rest of the country. President Zuma’s recent initiative regarding matters of state should also be applied to what happened […]
Assistance with Licensing Requirements
In all endings, there is always a beginning. On Friday, we submitted the last of our licence applications to the FSB as a “recognised licensing body”. This status was afforded to us in […]
Insurance – The socio-political silver bullet
I have been meaning to write on this topic for a while now but, having listened to a few socio-political economists/ analysts (the titles vary quite a bit) over the last three weeks, […]
Annual Financial Statements
The information below was published in FAIS Circular 5 of 2012. We extracted what we regard as the essence of the communication to assist readers in complying with this annual obligation. Section 19 […]
The end of the innocence
When the Eagles recently visited our shores, I was one of the first to book my seat for a trip down memory lane with songs I still know off by heart. The title […]
Top SA financial journalists honoured at Sanlam Awards
Investigative journalist, Lindokuhle Xulu of Financial Mail, has scooped the Financial Journalist of the Year award at the Sanlam Awards for Excellence in Financial Journalism which were presented in Johannesburg on Tuesday night. […]
Where does FAIS find itself?
Amongst others, the objective of the FAIS Act and subordinate legislation may undoubtedly be summarised as the professionalisation of the financial services industry as well as the protection of financial services consumers. As […]
Exemption from Submission of Audited Financial Statements
Readers may recall that certain categories of FSPs were allowed to apply for exemption from the obligation to submit audited financial statements. The deadline for such applications was 31 May 2012. Bronwen Allan, […]
What happens after 30 June 2012?
The industry appears to be anxiously waiting for an answer to this question from the FSB. There are certainly guidelines about what can happen, but will the circumstances call for a new approach? […]
FSB Workshops for 2012
Registration for the FSB workshops opened at 09h00 today. Most of these will be telematic broadcasts, similar to those held last year. We were asked to assist with the distribution of DVDs for […]
FSB Levies for 2012/2013
The FSB announced the levies payable for 2012/2013 in Board Notice 101 of 2012 last week. My colleague, Paull Lawrence, updated his levy calculator with the latest data. This can be used to […]
FSB and Ombud levies announced
The proposed increase in levies is between 8% and 10%. The announcement from the FSB, prior to it being gazetted, also contains guidelines for those who intend leaving the industry. My colleague, Paull […]
