– Interesting high court judgment This rather sensational headline greeted readers of the Star newspaper on December 14, 2018. But does this reflect the real findings of the KZN High Court? A careful reading of […]
The importance of an in-depth client financial needs analysis is once more highlighted in a FAIS Ombud investigation, ruling and settlement. A financial needs analysis should not just be a tick box exercise; […]
ASISA statistics on fraudulent claims – Spike in dishonest death claims Although there was a decline in the number of irregular claims the value of the fraudulent and dishonest claims was almost the […]
A closer look at the background to non-disclosures The “Momentum debacle”, as it became known in the media, has certainly drawn a lot of public and media comment and interest. Many a commentator […]
Non-disclosure drama – Tips on the broker’s role to ensure a better outcome at claim stage In the midst of a raging social media war, journalists writing about the pros and cons of […]
In a recent (5 October 2018) matter heard before the Financial Services Tribunal, the applicant, Ms X, applied for a reconsideration of a decision taken by the respondent, Y (the FSP). The FSP […]
How did the FAIS Ombud fare against its goals in the 2017/2018 financial year? Nhlanhla Nene, previous Minister of Finance, states in the Foreword of the FAIS Ombud Annual reports that “the overhaul […]
The new Determination of Fit and Proper Requirements for Financial Services Providers, 2017 (Board Notice 194 of 2017) sets out a number of new requirements relating to the financial soundness requirement of representatives. […]
Board Notice 194 of 2017 which contains the latest Fit and Proper requirements introduced a new concept called “Good standing”. This does not refer to your ability to consume copious amounts of alcohol […]
The Association for Savings and Investment South Africa (ASISA) recently released the Collective Investment Schemes (CIS) industry statistics for the quarter and year ended June 2018. The statistics show that the strong net inflows […]
In the midst of the world cup soccer hype, Neymar memes and speculation on which team will be crowned as the winners of World Cup 2018, the role of soccer coaches sometimes fades […]
Voluntary retrenchment plan for public sector workers – Test for Default Pension Fund Regulations Legalbrief Today recently commented as follows on a Business Day article: Thousands of public sector workers over the age […]
The new Fit and Proper Determination requires that certain individuals are required to obtain a specified number of Continuous Professional Development (CPD) hours between 1 June 2018 and 31 May 2019. In response to an application to […]
Registration for Class of Business training by Moonstone Business School of Excellence (MBSE) is now Open What and When? The Act stipulates that a FSP and representative must complete the class of business […]
The amended Determination of Fit and Proper Requirements come into effect on 1 April 2018. The competence requirements relating to regulatory examinations contained in the amended Determination apply to all FSPs, key individuals and representatives […]
The sustainability of independent financial advice was always a key aspect in the Registrar’s approach to the Retail Distribution Review. Board Notice 181 of 2017, published on 10 November last year, aims to level […]
The Financial Services Board subcontracted the beleaguered KPMG to do an impact assessment on the proposed amendments related to the Fit and Proper requirements, as published in the Draft fit and proper requirements […]
