POPI Update
It appears that our readers are more attuned to complying with pending legislation than public enterprises. Grant Thornton recently published an article titled: “Public Sector falling behind in POPI Act compliance”: “More than […]
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Tax Assessment Tool
Softbyte Computers recently developed a software program for UNISA to assist tax and accounting students, and is now offering our readers the same student version of WinTax software at no cost. Tony de […]
Sanlam BENCHMARK Survey
by Patrick Cairns The latest Sanlam BENCHMARK Survey, which takes stock of the behaviour of members of South African pension funds, is full of scary statistics. What is perhaps even scarier is that […]
Qualifications Lists Updated
The FSB published updated Qualification lists for FSPs and Compliance Officers. If you have a qualification, but is unsure whether it is recognised by the FSB for your specific licence category, this is […]
Attendance
Candidates are required to be at the venue 30 minutes before the commencement of the examination session. No candidate may enter the examination venue later than 30 minutes after commencement of an examination […]
Key Individual Liability
A recent order by the FSB’s Appeal Board highlighted the importance of applying the prescribed methodology where representatives under supervision are concerned. A representative under supervision, Moore, claimed that the directors of Blue […]
New FSB Fees
The new fees payable to the Registrar of Financial Services were announced on 25 March 2015. A few noteworthy changes are: Item Current Fee (R) New Fee (R) Category I Application 2180 2311 […]
LT Ombud Makes Compensation Rulings
The March 2015 edition of the Long-term Ombud’s newsletter, Ombuzz, contains information which should give heart to those who experience unsatisfactory service from product providers. Too often, such service reflects poorly on the […]
New BoZ governor tasked with finding “magic wand” to stem Zambian kwacha slide
Denny Kalyalya was inaugurated as Bank of Zambia (BoZ) governor on Wednesday, March 18. The new central bank chief was appointed at a time of currency market turmoil, with the kwacha exchange rate […]
Broker Training by CMS
The Council for Medical Schemes will be hosting a one day consultative workshop and training for accredited healthcare brokers. The Workshop aims to provide guidance and clarity on the following: Applicable sections of […]
Debarment Problems Persist
Despite warnings and guidelines from the Regulator, it appears that personal vendettas are in some instances a stronger driver than legal obligations. I received the following enquiry from a reader on 7 March: […]
Another coalition in Lesotho is unlikely to last a term
While the hastily organised elections in Lesotho on February 28 were never going to produce an outright winner, the distorted results may bring even more instability than previously anticipated. The medium-to long-term prognosis […]
New Draft Pension Fund Circular
The Registrar released a draft circular titled, The Commencement of Participation, Termination and Re-Commencement of Participation of Participating Employers in Umbrella Funds, on 27 February 2015. The introduction states that the Registrar wishes to provide […]
New FAIS Email Inboxes
FAIS Information Circular 11/2015 contains 7 new specific email addresses for queries to the FSB’s FAIS Department. It also contains a complete list of all FAIS email inboxes that the external stakeholders should […]
Risk Profiling and Asset Allocation
The Botha Determination by the FAIS Ombud certainly touched on a sensitive area, never covered before in the same detail as in this case. The Ombud found that the clients suffered loss as […]
Ombud View on Risk Analysis and Asset allocation
The latest FAIS Ombud determination should be regarded as compulsory reading for intermediaries in the investment business. The investments occurred around the time of the world economy meltdown. The determination discusses the needs […]
Improving Internal Complaints Mechanisms
The “Draft Market Conduct Framework”, published in December, is certainly a goldmine in terms of trying to gauge what the future holds for the industry. The information published below is extracted from it. […]
