Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
Read moreThose FSPs whose financial year ends on 28 February, received a reminder from the FSB about the deadline for the compulsory submission of their financial statements.. The Regulator’s website contains guidelines on how […]
Does the benefit of hindsight count against advisors in so far as the FAIS Ombud is concerned? This is what went through my mind when I read the latest determination by the Ombud. […]
The following section appears in the implementation document published on 1 February 2013. Moving towards a twin peaks model of financial regulation will result in the South African Reserve Bank’s organisational design changing […]
The FSB would like to encourage all its stakeholders and interested parties to participate in the consultation process initiated by the publication of A safer financial sector to serve South Africa better in […]
It has become a hackneyed phrase to term an event “ground breaking”. In this instance, I think it applies. We have for a very long time voiced our concern over the fact that […]
I can still recall my initial reaction, way back when, when I first read that honesty and integrity would be one of the fit and proper requirements. There is no disputing the need […]
Newsletter 13 provides guidance on how you can ensure that your records at the Regulator are up to date. The onus is on you to ensure this, so please follow these easy guidelines: […]
The latest figures released by the FSB shows that 313 FSPs had their authorisation suspended between 4 December 2012 and 24 January 2013. There were relatively few other “offs” and “ons”, with the […]
“The FAIS Ombud’s role is to resolve disputes between financial services providers and their clients in a procedurally fair, informal, economical and expeditious manner.” Thus reads the home page of the Ombud’s website, […]
Board Notice 208 of 2012 provides a measure of relief in terms of certain mandate and liquidity requirements to persons conducting financial services related business with private equity funds. The Board Notice contains […]
The latest (and hopefully last) determination by the FAIS Ombud in 2012 contains two interesting new developments. The first quirk is that both respondents were ordered to pay the obligatory case fee of […]
A constant refrain in comments from readers is the number of service providers who, in their opinion, jumped on the band wagon to make money out of advisors. Here is an opportunity for […]
The latest determination by the FAIS Ombud is a good example of why it is so necessary to make sure that you inform your client of any material changes to an existing product. […]
The content of an article in Moneyweb entitled Rogue broker ignores FAIS Ombud was covered in this newsletter in June. Frank McCarter and his wife are one of many investors who received bad […]
Was it coincidence? I was working on this article on Tuesday, and on Wednesday saw an article in Sake24 entitled: Finansiële waghond ‘aan die slaap’. According to this report, the members of parliament […]
Four years ago, former FNB financial adviser, Clynton Cotton, pleaded guilty to stealing R12 million from his clients. One of them, Carmen Goodman, finally won her court battle with the bank. FNB was […]
