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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The Financial Intelligence Centre (FIC) has revised Public Compliance Communication 07 (PCC07) to explain the duties of motor vehicle dealers when reporting cash transactions of more than R24 999.99 to the FIC. The Centre […]
In a media release by the Association for Savings and Investment South Africa (ASISA) on 10 February 2016, it announced details of a new “meaningful” basis to allow consumers and advisers to compare charges and […]
An appellant received an early Christmas box on 24 December when he appealed successfully against a five year debarment for failing to meet the personal character qualities of honesty and integrity. The FSB debarred […]
The tax harmonisation reforms of retirement funds will be implemented from 1 March 2016. What are the changes that will come into effect on 1 March 2016? “The Taxation Laws Amendment Act, 2013 will come into effect […]
The Registrar published a draft notice setting out conditions for investments in hedge funds by Pension Funds. Despite the declaration of a hedge fund as a collective investment scheme, any investment by a […]
Whilst Ombud determinations receive fairly wide coverage, the same does not apply to cases where a settlement is reached between the complainant and the respondent. We extracted the cases discussed in the FAIS […]
The latest PWC study titled Insurance 2020 & beyond: Necessity is the mother of reinvention, provides important insights into how technology will empower and shape the financial services industry in future. The information […]
It is not often that a determination by the FSB Appeal Board reveals some of the sad human realities of our society. The Appellant was debarred for two years for submitting false applications. […]
Hierdie artikel word gepubliseer met die goedgunstige toestemming van Van der Spuy en Vennote. Die munisipaliteit het my in kennis gestel dat hulle my elektrisiteitvoorsiening gaan afsny omdat daar uitstaande betalings ten opsigte […]
Having just spent ten days travelling extensively in Namibia, I am acutely aware of the dangers of running into animals. There are even warning signs against wart hogs, which I thought would not […]
MSC Circular 59 of 2015 contains proposed amendments to the Medical Schemes Act, including various fee increases. Regulation 31 deals with the amounts payable to register a medical scheme, to accredit an administrator, […]
The Council for Medical Schemes (CMS) published Circular 54 of 2015 which contains details of the framework and principles to allow the introduction of Low Cost Benefit Options (LCBOs) within the medical schemes […]
Published with the kind permission of Van der Spuy & Partners Your agreement is signed, sealed and delivered! You know that in the agreement a non-variation clause stipulates that no variation or consensual […]
Proposal I in the RDR draft document (see link below) provide for the inclusion of specifically identified forms of referrals and leads in the regulatory framework as a form of financial intermediation. It […]
Proposal I: Conduct Standards for referrals and lead generation Certain specifically identified forms of referrals and leads will be included in the regulatory framework as a form of financial intermediation, and will be […]
Section 11 of the General Code of Conduct states: `A provider must at all times have and effectively employ the resources, procedures and appropriate technological systems that can reasonably be expected to eliminate, […]
