FSCA to act to recover R495m in fines owed by Jooste

Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.

Ombud Complaints Analysed

Ombud Complaints Analysed A reader recently pointed out an interesting statistic published in the FAIS Ombud’s annual report. Less than 20% of the complaints received in the last year, concerned investments. He says […]

Inseta Vouchers Available

Inseta has 1 000 vouchers available to those looking for financial support in obtaining a full qualification. This applies equally to those already studying towards a recognised qualification, and those wanting to start […]

Guaranteed annuities, Ugly Ducklings?

This article was published in IG eZine October 2012. In view of the current debate on changes to retirement provision, it is essential reading to provide a more balanced perspective on the choice […]

Licence Profile Changes

Authorised financial service providers are legally required to advise the FSB in the prescribed manner of any changes to their licensing conditions, within 15 days of such changes. Many FSPs are not aware […]

Personal Services Providers

We published an explanation from SAIA in Thursday’s Moonstone Monitor on this topic. This elicited more responses from readers. SARS published Interpretation Note: No. 35 (Issue 3), on 31 March 2010. It contains […]

FSB On-Site Visits

On Monday we discussed the functions of the FSB’s FAIS Compliance Department in an article by the same name. We indicated where they get information which leads to further action, including on-site visits […]

CPD Postponed

Board Notice 163 of 2012, published on 3 October 2012, effectively postpones continuous professional development “until further notice.” Readers are reminded to be wary of providers offering workshops claiming that attendance will attract […]

The War of the RA Roses

The Professional Provident Society (PPS) announced in a media release last week that, from 1 October, the PPS RA (underwritten by Sanlam) will be closed for new business, as well as for new […]

The Cost of Compliance: Survey

This research, conducted in February this year, was prompted by growing concerns that the legislative framework as represented by the Financial Advisory and Intermediary Services Act of 2004 (FAIS) is placing a heavy […]

RA Commission under the Spotlight

The National Treasury released two technical discussion papers on promoting household savings and reforming the retirement industry. These papers, numbered B and C respectively, are titled Enabling a better income in retirement, and […]

High Court Judgement on Deeb Risk Case

The judgement can be regarded as a ground-breaking ruling regarding the powers of the Ombud as an alternative resolution platform. The main point concerned the right of a respondent, against whom a complaint […]

FSB Levy Deadline

The annual levies payable to the Regulator is calculated on your position as at 31 August 2012. This is for the period 1 April 2012 to 31 March 2013. Should your information have […]

FSB Contact Details

The latest FSB newsletter, published in January this year, contains a list of e-mail addresses for submission of documentation to the Regulator. Please download and store this in easily accessible format. We have […]

Driving home the advantage

Bobby Londt reports: After the epic lesson given at The Oval, the cricketing world keenly awaited the next round of this mini world championship. The second tests starts today at Headingley in Leeds. I […]

Continuous Professional Development

In May we published a series of articles on what can be regarded as phase 3 of the Regulatory Examinations: Continuous Professional Development (CPD). It now appears as if a number of training […]

Annual Financial Statements

The information below was published in FAIS Circular 5 of 2012. We extracted what we regard as the essence of the communication to assist readers in complying with this annual obligation. Section 19 […]