In a recent FSCA Communication the FSCA acknowledges the impact of the Corona virus on South Africa in general and the financial services industry specifically. As a result, the dates for submissions of […]
The FSCA recently published RDR Discussion Document updates and, amongst others, requested input on various aspects of the adviser categorisation model. The seven key focus areas of the document are: Section 1: Terminology […]
The FSCA recently published various RDR (Retail Distribution Review) discussion documents for comment. One of the documents provides specific updates and requests input on several aspects of the adviser categorisation model. Purpose of […]
The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]
We have become used to the publication of important regulatory changes on and after 15 December each year, but 2017 set a new “record” which will be hard to beat. We will be sharing […]
At the end of last year’s Insurance update from the FSB, Jonathan Dixon said: “We had better fasten our safety belts – this is going to be rough year”, or words to that […]
The Retail Distribution Review (RDR) of 2014 contained several comments that expressed concern about the negative effects of “churning” which it described as “inappropriate or unnecessary replacement of policies driven by intermediary incentives”. […]
On Tuesday, David Ferguson, founder and chief executive of Nucleus Financial Group in the UK, speaking at the Sanlam i3 Summit, said RDR and all the associated legislation introduced in the UK in […]
On 27th of March we published an extract from the ASISA Dispatches to give readers a perspective on the multitude of legislative changes currently underway in the financial services environment. On Tuesday, the Financial […]
I was fortunate to attend a recent presentation on this topic by Billy Seyffert, COO of Moonstone Compliance. Many see the Retail Distribution Review as the beginning of the end. In a way, […]
In case you thought this may be a rather painful dissertation on what a dentist does, think again. In the Retail Distribution Review, the Regulator aims to provide for situations where tied agents, […]
The December 2016 Retail Distribution Review update provides clarity on matters which appeared slightly confusing in earlier proposals. The Regulator did away with the “multi-tied” category of adviser – in future, you are […]
This is possibly the biggest bone of contention for advisers in the investment space. In the FSB’s RDR Update published in December 2016, the following information was conveyed: Commission on investment products As indicated […]
The RDR status review, published in December 2016, contained the following information concerning short term remuneration, and specifically regarding additional fees currently charged under section 8(5) of the Short Term Insurance Act. (f) Proposal […]
True to form, a huge amount of proposed legislative changes were published towards the end of last year. Formal consultation on the draft regulatory instruments to be used to give effect to Phase […]
Indications are that we will, in the next week or two, see updates on a number of proposed legislative changes, including the Policyholder Protection Rules. In the publication of the Phase 1 proposals in […]
In the publication of the Phase 1 proposals it was envisaged that drafts of subordinate legislation to give effect to the majority of the RDR Phase 1 proposals would be published for comment in April 2016, […]
