Labour laws set for major overhaul

From stronger retrenchment safeguards to the inclusion of gig workers under formal labour protections, proposed amendments could redefine the future of work for millions of South Africans.

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RDR Status update November 2016 Part 1

The new “Level 2” REs and CPD Background Almost exactly six years ago, give or take a day or five, Moonstone presented the very first Level 1 Regulatory Examinations. At that time, it was […]

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New Acts Affect Sectional Titles Schemes

Miller’s Attorneys of George recently published information about new legislation which will affect Trustees and Executive committee members of Housing Development Schemes (Community Schemes). Two new acts and regulations came into operation on […]

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Quo Vadis, Insurance Intermediaries?

When American insurance guru John F. Carroll started his successful InsuranceSplash in 2009, it was informed by direct observations which led to some profound conclusions: It’s getting harder and harder to successfully market […]

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Board dismisses Discovery Health appeal

“On 31 October 2016, the Council for Medical Schemes Appeal Board dismissed the appeal lodged by the Discovery Health Medical Scheme (DHMS) regarding the issue of whether it is lawful for the rules of a […]

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RDR Status update November 2016 Part 1

A new discussion document on RDR is due for release before the end of December for industry input. At the Insurance Regulatory Seminar in Cape Town on 17 November 2016, the following information, which will […]

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Twin Peaks Progress Report

Jonathan Dixon provided more information on the Financial Sector Regulation Bill which is currently in the final stages of Parliamentary consideration. The Bill provides for staggered implementation. The Prudential Authority will be established […]

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Comparing Emerging Regulations

A bosom buddy of mine, now deceased, when asked what he would do differently if he could live his life over, said: “I would make the same mistakes, just start sooner.” I have […]

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Growing importance of Data

At the 2016 Insurance Regulatory Seminar held in Cape Town last week, Farzana Badat, Head of Insurance Compliance went to great lengths to illustrate the importance of “…reliable, dependable, quality data… to articulate […]

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Dekking vir volle finansieringsbedrag

Die FAIS Ombud het onlangs bevind dat ‘n makelaar aanspreeklik gehou moet vir die verlies van ‘n kliënt wat betref die verskil tussen die versekerde bedrag en die uitstaande skuld aan die bank. […]

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Does size matter?

In Case 1 discussed above, the Ombud also made the following statement: “The investigation further revealed that the respondent, in advising the complainant, had compared various financial products on the basis of a […]

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Lessons from FAIS Ombud Annual Report

The FAIS Ombud indicates the following concern in her 2015/2016 annual report: “One of the areas that the FAIS Ombud still has to contend with is the misconception… that the FAIS Act does […]

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The difference is day and night!

Is there incentive from the Proteas point of view to lay it all out on the field in the 3rd test? –  A quick look at the motivational factor for Faf and his […]

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Justice delayed?

We noted with great concern that there were delays of up to five years in resolving some complaints from the time the Office of the Ombud undertook to investigate the complaint. This was […]

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Post Retirement Planning

The Ombud’s annual report highlights specific problems related to advice when clients retire. South Africans continue to procrastinate when it comes to saving for retirement. Many still rely solely on the benefits provided […]

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