Posted on 11 Sep 2018
The Office of the Ombud for Financial Services Providers recently published the first edition of their changed newsletter called FAIStime. In this Quarter 2 of 2018 edition, read about: Changes and new concepts introduced by Twin Peaks; The new FAIS Ombudsman, Mr. Naresh Tulsie; The effects of technology on the financial services industry; The Ombud’s … Continued
Posted on 11 Sep 2018
On 30 August 2018, the Financial Sector Conduct Authority (FSCA) warned the public to act with caution when dealing with Tshwaranang Community Stockvel (Tshwaranang) as this Stockvel is not authorised to render any financial advice and/or intermediary services. According to the information received by the FSCA, there is a person(s) purporting to act for Tshwaranang … Continued
Posted on 11 Sep 2018
The Financial Sector Conduct Authority published the consultation paper on 31 July 2018 to obtain public comment on the Exemption on Services under Supervision. The paper makes provision for representatives who do not meet all the competence requirements to work under supervision with certain conditions. In this article we focus on the entry level requirements … Continued
Posted on 11 Sep 2018
“It takes many good deeds to build a good reputation, and only one bad one to lose it.” Benjamin Franklin Many advisors do not follow all the necessary steps when providing advice, which leaves them exposed to client complaints. If these are escalated to the FAIS Ombud, who then finds in favour of the complainant, … Continued
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