The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
Read moreThe Minister of Finance announced proposals in the 2013 Budget Speech to reform the retirement industry, with a focus on governance, preservation, annuitisation and harmonisation of retirement funds. These proposals follow a series […]
We receive numerous requests on a daily basis for copies of RE1 and RE 5 certificates from candidates who mislaid theirs. You can now download a copy from our website in your own […]
The article we published last week was based on information contained in the FSB FAIS circular 13. This proved to be a rather unfortunate number. We publish below relevant excerpts from the article, […]
The latest newsletter from the FSB focuses on communication with the FSB. A number of readers were unable to open the link contained in e-mail sent on Friday. We obtained a copy this […]
This document, entitled “Disclosure of Fees and other potential Conflict of Interests on Third Party Collective Investment Scheme Portfolios” proved to be difficult for some people to download. Please click here to download […]
A document containing National Treasury’s responses to comments on the Financial Services Laws General Amendment Bill was published recently. The 110 page document makes for heavy reading if you are not a legal […]
US tax revenue: $2,170,000,000,000 Federal budget: $3,820,000,000,000 New debt: $1,650,000,000,000 National debt: $14,271,000,000,000 Recent budget cuts: $38,500,000,000 Let’s now remove eight zeros and pretend it is a household budget: Annual family income: $21,700 […]
The publication of Board Notice 202 of 2012 brings about very important changes to the definitions of “Annual Expenditure”, “Liquid Assets” and “Management Accounts”, amongst others. This may impact significantly on your financial […]
This is a follow-up circular to FAIS circular 12/2012 distributed on 7 December 2012. The purpose of this circular is to communicate information regarding the following: Additional information regarding the extension of the […]
A draft policy document on accreditation for brokers and broker organisations was published for comment by the Council. Please click here to download a copy. Affected parties have until 13 January 2013 to […]
This circular provides information on the level 1 regulatory examinations. The following aspects are addressed: The extension of the re-write deadline for the RE3 (Key Individual: Category II and IIA) and RE4 (Key […]
The Financial Intelligence Centre (FIC) has established a Compliance Contact Centre to deal with queries related to compliance with the Financial Intelligence Centre Act, No. 38 of 2001, as amended (FIC Act). A […]
The introduction of the FAIS Act changed the rules of the game as far as programmes used to determine client needs, are concerned. Perhaps it is more accurate to say that it should […]
This article received quite a bit of attention from the market. We respond to two of the questions received from from readers. I just recently received the Moonstone Monitor for today and have […]
In FSB Newsletter 12, the regulator expresses concern that the duty of a compliance officer to report real, or suspected irregularities, does not always receive the attention it should. Section 17(1)(c) of the […]
