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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On 16 March 2018, the High Court in Cape Town provided its favourable ruling on the matter brought by the retailers, Truworths Limited, Foschini Group Limited and Mr Price Group Limited (the “Applicants”) […]
The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the […]
A national client survey by Santam revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars. 64% “very or extremely […]
The National Credit Regulator recently published a circular and guideline in respect of the new fees that debt counsellors may charge consumers during the debt review process. The new fees are effective from […]
We received a substantial number of enquiries about this topic in response to articles published last week. It is not only important to those who are required to do Class of Business (CoB) […]
Cases heard by the Appeal Board of the FSB often provide more stringent legal certainty to matters in the financial services industry, particularly in so far as decisions by the FSB itself and […]
I recently downloaded a 16-page white paper titled The Advisor’s Guide to Digital Marketing which offers a wide variety of tips on how you can use various platforms to optimise your client contact […]
The respondent, Mrs Landman, is a 65 year old widow and pensioner who invested the proceeds of her late husband’s life savings/pension of R650 000 on 6 May 2006 in the Sharemax Zambezi Retail Park Holdings […]
FAIS Newsletter 25 from the FSB is dedicated to the Financial Intelligence Centre Act and, more specifically, to substantial changes which came into effect in June and October. The amendments are designed to […]
The Prescribed Minimum Benefits (PMB) Code of Conduct (CoC) published in 2010 has been reviewed, and following the incorporation of inputs received from all the task team groups; the first draft of the […]
Insurance Bill B1B, as amended by the Standing Committee on Finance was passed in the National Assembly on 28 November 2107. It will now be referred to the National Council of Provinces for consideration. The […]
Whilst determinations by the Ombud receive wide exposure in the media, settlements are only published in her annual report. This year, there were 1005 settlements and 68 determinations. The settlement amounts in case […]
The Registrar of Pension Funds published, for comment, a draft Directive to determine conditions in respect of inducements and acceptance of gratification to ensure compliance with and to prevent contraventions of the objectives […]
We commented earlier on this white paper, published in the USA in September. Whilst it expands on “Leveraging Technology to Drive Profitability, Scale, and Growth”, there is certainly another aspect of great interest […]
The October edition of the OSTI Briefcase contains some interesting insights on two complaints, in particular. Promissary warranty The issue for determination in this matter was whether the insurer was entitled to reject […]
Views ‘on-the-road-costs’ as not being in line with prescriptions On 3 August, we published an article on the National Credit Regulator’s (NCR) media statement, warning vehicle financiers (being registered credit providers) that they […]
