Second Appeal also unsuccessful
The Ombud made a determination on 30 March 2012, holding the appellants liable for the repayment of the amount invested. An appeal was upheld by the Appeal Board on 26 February 2014. In terms of the order, […]
Massive interest in two-pot withdrawals puts administrators to the test
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
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Die vis vrot van sy kop af
Die spreekwoord sê dinge kan nie doller as kopaf raak nie, maar as ek so na SA politiek en sport kyk, smaak dit my ons gaan die idioom herskryf. Dit wat nou by […]
Deadlines Revisited
A reader recently wrote: My query relates to the article headed “Qualification deadline at hand – 30 June 2016 is a very important date”. I understand that representatives appointed after 2010 has 6 years in […]
Sole Proprietor Practicalities
In response to Alan Holton’s article on business continuity and succession planning, Tony Calitz, a sole proprietor in Durban, raised a number of very important considerations. Most clients will NOT simply grant permission […]
The future looks bleak!
The terrifying prospect of facing the All Blacks due to what we have seen in the last couple of months from Alistair and his charges, have lots of Bok fans planning alternative activities […]
Council of Medical Schemes – New fees announced
In a recent communication from the Council of Medical Schemes: Amendments to Regulation 31 and 32 published in terms of the Medical Schemes Act 1998 (Act No. 131 of 1998) ), the following […]
TCF in Dispute Resolution
An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let […]
Embracing Technology in Your Business
A fluctuating economy, a competitive financial services landscape and abundant new legislation are just three of the countless challenges South African financial advisers contend with today. But while these challenges will undoubtedly contribute […]
KYC – Knowing your client or killing your client?
Nearly all financial institutions understand the “know your client” (KYC) requirements. It is an important step developed globally to prevent identity theft, financial fraud, money laundering and terrorist financing. Knowing customers is an […]
Compliance Officer Requirements amended
The Registrar of Financial Services Providers has published the following documents on the official web site of the Financial Services Board: The Amendment of the Notice on Qualifications, Experience and Criteria for Approval […]
TCF in Dispute Resolution
An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let […]
Business Continuity and Succession Planning – Part II
In Part I we discussed the close relationship between the two elements, stating that succession planning could be considered a subset of business continuity planning, and how the TCF requirements added a dimension […]
Alistair’s Bok selection…
Humour me for a moment please, as we look at Saturday’s team of 23: A fly half playing full back, a left wing playing right wing, a scrumhalf playing left wing, a full […]
What to look for in structured products
In today’s uncertain climate, financial advisers have to consider risk very carefully. How much risk is appropriate for different clients, and how it is managed are critical questions when putting together investment plans. […]
Contradictory views on Material Terms?
The latest Newsletter from the Short-term Ombud contains details of a rejected claim as a result of the fact that, at underwriting stage, the client did not inform the insurer of previous losses. […]
New User Guide for the FAIS Online Reporting System
It is of the utmost importance that FSPs download and save a copy of this important document. It provides step-by-step guidelines on how to interact with the Regulator on the following matters: Submission […]
