Update on Retirement Reforms
The 2014 Budget announcement contained more detailed information on where we currently are on the road to extensive reforms of the retirement industry. A media release by National Treasury on 14 March 2014 […]
Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.
Read moreThe 2014 Budget announcement contained more detailed information on where we currently are on the road to extensive reforms of the retirement industry. A media release by National Treasury on 14 March 2014 […]
From the February 2014 edition of the Asisa’s Dispatches: A number of members and stakeholders have asked us to provide context to the announcement by Finance Minister Pravin Gordhan as part of his […]
The FAIS Supervision Department of the FSB follows a risk-based approach in supervising financial services providers (FSPs). Licenced entities are categorised in five sectors, ranging from high impact to small FSPs, with the […]
The definition of an intermediary service was the subject of a number of discussions and reviews, including an article published by the FSB to provide clarity on what actually constitutes such a service. […]
The fair treatment of clients by certain product providers was recently questioned by Bruce Cameron in an article on causal event charges. A key part of ensuring proper market conduct is a new […]
The Taxation Laws Amendment Act No. 31 of 2013, published in Government Gazette No. 37158 on 12 December 2013, contains very important changes to the tax treatment of contributions to retirement funding. Hettie […]
The National Treasury and the Financial Services Board (FSB) published a Joint media statement outlining their preliminary response to stakeholder comments on proposals released in September 2012 for regulating hedge funds. Annexure A, […]
A recent article in Business Day shed light on why the FSB suspended the licence of Blue Financial Services, a player in the micro-lending business. “The FSB has suspended the licence as a […]
The latest determination by the Pension Fund Adjudicator (PFA) brought the levying of penalties on retirement annuities, when changes are effected, to the fore again. I was unable to obtain a copy of […]
The FSB published details of a settlement reached with a company trading as “MyLawyer” (the respondent) who acknowledged that it had contravened section 7(1)(a) of the Short-term Insurance Act (STIA). From November 2011, […]
We frequently receive enquiries about legislative changes, specifically regarding Treating Customers Fairly (TCF) and the Protection of Personal Information Act (POPI). Some product providers have even requested advisors to sign TCF declarations. As […]
The long-standing battle by the Council for Medical Schemes to have gap cover and hospital plans clearly demarcated as insurance, and not medical products, is indicative of its determination to ensure that clients […]
An article on the Norton Rose Fulbright website poses an interesting and challenging question to trustees in terms of their obligation as far as the distribution of death benefits is concerned. Prior to […]
A recent press release by the FSB named nine funeral services providers who appear to be acting outside of the law. Is it only the Regulator’s duty to expose such transgressors, or do […]
The regulatory examinations took precedence for most people in the industry, and may have averted the focus from the qualification requirement, particularly in the case of representatives working under supervision. Industry demands for […]
Last year, we published an article titled Charges in Respect of Investment Policies. I referred the matter to the FSB for comment, particularly in view of the following opinions expressed by the Long-term […]