The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
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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 […]
If there was ever any doubt about just how serious the world is about money laundering and related crimes, this was dispelled by the recent example of Australia’s Commonwealth Bank agreeing to a […]
The Financial Sector Conduct Authority (Authority) intends to replace the current compliance reports with the proposed Conduct of Business Report (COBR) that was published for public comment on the official web site of […]
Results of the 2017/2018 Old Mutual Millennial survey shows that better educated, tech-savvy and optimistic millennials – South Africans born between 1982 and 2000 – are more likely to seek financial independence and […]
Are you, as a financial advisor prepping for your RE exam, feeling intimidated by the changes introduced on 1 April 2018? The updated version of the regulatory examinations, based on the new Qualifying Criteria became […]
The Financial Sector Conduct Authority (FSCA) has just published a general communication to Accountable Institutions (AIs) on its supervisory approach to implementation of the Amendments to the Financial Intelligence Centre Act, 2001 (FICA). […]
The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular […]
We published an article on 16 November 2017 titled Insurer Obligations re Credit Reports which dealt with the National Credit Regulator’s (NCR) guideline for the submission of credit information and indicated that a fee structure […]
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 […]
A newly published document by the Registrar attempts to address some of the practical problems experienced in the past. “16. The frequency of representative complaints reported to the Registrar’s office, and the intensity […]
A recent case before the FSB Appeal Board saw the period of debarment halved which is an interesting deviation from previous views held by the Board on its powers to interfere in decisions […]
On 24 November 2017, the Portfolio Committee on Trade and Industry published its Draft National Credit Amendment Bill, 2018 (the Bill) in the Government Gazette. The Bill is generally referred to as the Debt Relief […]
“The National Treasury, the South African Reserve Bank, the Financial Services Board, the South African Revenue Service and the Financial Intelligence Centre, published a document titled “User Alert – Monitoring of virtual currencies”. […]
In future, insurers will have to submit credit information in order to continue accessing consumer credit reports from credit bureaux. On 3 November 2017, the National Credit Regulator (NCR) published its final guideline […]
Perceived disparities between remuneration for tied agents and independent advisers have been a bone of contention for ages. The Registrar also expressed concerns about the possibility of using remuneration, other than commission, to […]
The National Credit Regulator (NCR), in a media release on 24 October 2017, also issued a compliance notice to Volkswagen Financial Services South Africa (Pty) Ltd (VW) for charging consumers an on-the-road fee, admin fee […]
