The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
Read more
On 11 August 2017, the National Credit Regulator (NCR) released a media statement on the final credit life insurance regulations published under Government Gazette Notice No 103 which became effective on 10 August 2017. In […]
FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we […]
Do you understand the difference between the “27.5% of remuneration or 27.5% of taxable income” rule? Tony de Wijn of Softbyte Computers in Durban kindly offered subscribers a gratis programme which you can […]
Results reveal that small medical aids also offer good value, and highlights that consumers may be unaware of their own medical aid plans and the benefits contained therein. Smaller medical schemes perform well […]
The latest hearings schedule of the FSB Appeal board contains details of three appeals against decisions made by the FAIS Ombud in 2016 which are to be heard in June 2017. The Wallace determination […]
The decision in the Hlumbane case by the Appeal Board of the FSB provides very interesting information about the Board’s powers in terms of decisions made by the Registrar of Financial Services Providers, […]
The Registrar of Securities Services published a draft Trade Reporting Obligation Board Notice on Over-the-Counter (OTC) Derivatives for a second round of public consultation. “Establishing a harmonised reporting framework is an important aspect […]
Board Notice 51 of 2017 is a 31 page addition to the current list of recognised qualifications for FSPs and compliance officers. We note that all the qualifications are now marked as “G” […]
The Ombudsman for Short-Term Insurance published an information document for the public on the importance of providing accurate “regular driver” details. The regular driver is the person who drives the vehicle most often […]
The FSB’s Appeal Board came to an interesting decision in the last case published in 2016. This was an appeal against two previous decisions against a FSP by the FAIS Ombud in a […]
Revised Draft Default Regulations on Lowering Charges and Improving Market Conduct for Retirement Funds: National Treasury today publishes a second draft of the retirement funds default regulations, made in terms of section 36 […]
In its report on the Twin Peaks legislation to parliament, dated 30 November 2016, the Standing Committee on Finance (SCoF) raised a number of interesting issues. International guidelines Whilst commentators expressed criticism about certain matters […]
The Minister of Finance announced a Special Voluntary Disclosure Programme (SVDP) during the 2016 Budget Speech. This SVDP will be implemented in terms of Regulation 24 of the Excon Regulations and Part B of Chapter 16 […]
The 7th Insurance Regulatory Seminar is one event not to miss if you are involved in the financial services industry. This year’s seminar was certainly packed with important information. There can be no […]
The families of South Africa’s 14 million income earners face a combined insurance shortfall of R28.8 trillion should these breadwinners die or become disabled. This amounts to an insurance gap – the difference between […]
On Friday, 28 October 2016, draft Demarcation Regulations were published on which types of contracts are regulated under the LTIA and STIA as health policies and accident and health policies, and accordingly excluded […]
