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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The latest FAIS Ombud determination provides clarity on a few perspectives of great importance to FSPs and is discussed separately in this newsletter. The parties are Jacques Du Toit, the complainant, Barrington Insurance […]
A respondent’s appeal against a FAIS Ombud determination was recently dismissed by the Appeal Board. The Appeal Board decision states that, in the original determination, the Ombud found that the appellant, “… in […]
Masimdumise Gabriel Bhengu (the complainant) referred a declined claim by Outsurance Insurance Company Limited (the respondent) to the FAIS Ombud. The complaint stems from the complainant’s view that Outsurance failed to ensure that […]
And off they go Somehow, losing the T20 series against Australia was not such a gut-wrenching experience as defeat against our favourite foe normally is. In a way, it was more like trials […]
According to an article in Netwerk24, the panel who is currently conducting research on private healthcare posed a number of questions regarding the impact of commission on rising costs, including how commission works, […]
It should come as no surprise that executives of South African companies are less optimistic today, compared to a year ago. A recent survey by Mercantec reveals the CEOs in the financial services […]
The Financial Intelligence Centre (FIC) has revised Public Compliance Communication 07 (PCC07) to explain the duties of motor vehicle dealers when reporting cash transactions of more than R24 999.99 to the FIC. The Centre […]
LegalBrief Today commented as follows on the outcome of the Scheme’s application for leave to appeal against an SCAS finding. In what a Business Day report says is a decision that has far-reaching […]
The Financial Intelligence Centre (FIC) is preparing to launch a new registration and reporting system called goAML at the end of April 2016. New Registrations The last day for an accountable and reporting institution […]
In 2014, the four major banks were fined a collective R125 million for failing to implement adequate anti-money laundering controls. The Financial Intelligence Centre does not only focus on them, though. FAIS Newsletter […]
Imran Tahir’s timely return to form is great news for the Proteas. With spin bowling such an important element in the bowling attack, it is doubly reassuring, given the problems poor old Aaron […]
Join the debate and receive a free guide ‘How to use Social Media to enhance our reputation and win new business’ We are excited to again be part of a project to support […]
The Financial Planning Institute provides its members with a list of approved training providers. Moonstone Business School of Excellence (MBSE) is one such provider who complies with the FPI’s requirements in terms of […]
FAIS Newsletter 19 contains an article on this subject: During November 2015, the Registrar imposed a fine of R150 000 against a FSP for failure to observe section 2 of the Code. The FSP kept […]
Finance Minister Pravin Gordhan pulled several rabbits out his Budget hat on Wednesday, February 24, when he delivered the first Budget Speech of his current, second term. However, the rabbit one marked ratings […]
An interesting case was published in the December Short-term Ombud’s Briefcase. Mr. J submitted a claim against his insurer for contents stolen from his home during a burglary. The insurer rejected the claim […]
