Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
Read moreThe 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 […]
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 […]
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 […]
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: […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
More clarity on what constitutes causal event charges emerged from a recent Pension Fund Adjudicator determination after the complainant submitted that the deductions were “…exorbitant and do not comply with the principles of […]
The swift reaction by the FSB to finalise this matter needs to be commended, particularly if one takes into account that the process, which was announced on 1 September, included consultation with the industry. […]
The successful appeal by the State against the judgment by the High Court against J Arthur Brown certainly makes for interesting reading. The judgment found that the Western Cape High Court erred in […]
A recent determination by the Ombud highlights a number of important issues when it comes to an advisor’s obligations towards clients. The complainant enjoyed comprehensive cover with Zurich Insurance. On 8 April 2013, he requested […]
The FAIS Ombud’s annual report contains a list of trends picked up during the course of the year. The golden thread which runs through all of these, concerns insufficient disclosure across all sectors […]
Two important FSB documents which saw the light this week see a firm shifting of Treating Customers Fairly (TCF) from a theoretical basis to a practical one. The publication of the TCF Complaints […]
