RE Results and Certificates
We receive numerous requests on a daily basis for copies of results, or RE1 and RE 5 certificates from candidates who mislaid theirs. You can download this from our website in your own […]
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Changes to aspects of FAIS Ombud’s approach to handling complaints
The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
Read moreRetirement Reform Update
The Minister of Finance met the CEOs of service providers in the retirement fund industry on Thursday, 20 June 2013 to discuss the 2012 and 2013 Budget Retirement Reform proposals. The primary objective […]
PI Cover Increase
We recently reported on an experience of a FSP who found that his PI cover premium had nearly doubled at renewal. We speculated that this may be the result of an expected rise […]
2013 Levy Calculator
Since the introduction of levies in 2007, this cost to FSPs has nearly doubled. My colleague, Paull Lawrence, very kindly updated his levy calculator. You can use this to calculate your obligation, […]
Old Mutual Rectifies Structures
In a media release on 21 May 2013, the Financial Services Board (FSB) announced that it had initiated regulatory action against Old Mutual for transgressions of Directive 159.A.i which applies to both the […]
2013 Levies Announced
The levies in respect of those listed below show an increase of 8%, compared to last year. The same dates used in the past will apply – payment is due by the […]
BN 119 of 2013: Level 1 Exemptions
This Board Notice (BN 119 of 2013) provides for an exemption from the current Fit and Proper requirements to two categories of FSPs, and affirms the dates for those not included in this exemption. […]
BN 120 of 2013: Level 2 Exemptions
This Board Notice, (BN 120 of 213) published on 5 June, exempts all FSPs from having to write the level 2 REs until further notice. No rationale for this decision is contained in […]
2013 Compliance Reports
The information below was copied from FAIS Circular 5. The Compliance Reports for 2013 were published on 29 May 2013 in the Government Gazette as the following Board Notices: 105 of 2013 Category […]
FSB Circular Download Problems
Those of you who use Mozilla Firefox will experience problems when downloading links to the FSB website. The FSB home page contains the following disclaimer: Opening and downloading of documents on this website […]
Treating Customers Fairly
TCF is closer than we think. It appears to be on the FSB’s radar screen already, despite expectations that it will only become a reality next year. In an article we published on […]
Amended guidelines on Rep registers and debarments
FAIS Information Circular 4 of 2013, dated 27 May 2013, provides guidance regarding: Changes to the rep register, which was last amended in December 2009 The introduction and implementation of an electronic platform […]
Treating Customers Fairly in Action
TCF is closer than we think. It appears to be on the FSB’s radar screen already, despite expectations that it will only become a reality next year. In an article we published on […]
FAIS Ombud Extends her Reach
We have long bemoaned the fact that determinations by the Ombud seemed to involve the advisor only, and not the product provider. In the recent Bekker determination, the Ombud makes the following point: […]
FSB Initiates Regulatory Action Against Old Mutual
In a media release on 21 May 2013, the Financial Services Board (FSB) announced that it has initiated regulatory action against Old Mutual for transgressions of Directive 159.A.i which applies to both the […]
Reference Material for REs
Not a day goes by without us being asked for advice on the best study material for the level 1 REs. In terms of our status as an approved regulatory exam body, we […]
