Posted on 14 May 2019
All FSPs whose financial year end was 28 February 2019 must ensure that their annual financial statements are submitted to the FSCA by 30 June 2019. Please ensure that your accounting records are sent to your accountants/auditors as soon as possible and that they are on track to meet the deadline. It remains the responsibility of the FSP … Continued
Posted on 14 May 2019
The Financial Sector Conduct Authority (FSCA) recently published the first Draft Conduct Standard applicable to Banks. The objective of the draft Conduct Standard is to introduce requirements that promote the fair treatment of financial customers of banks. Submissions on the draft Conduct Standard must be sent to the FSCA at FSCA.RFDConductStandardBanks@fsca.co.za by 18 June 2019 … Continued
Posted on 14 May 2019
The Office of the Ombud for Financial Services Providers recently published their newsletter: FAIStime Newsletter Quarter 4 of 2019 which focuses on consumer rights and responsibilities towards their respective financial services providers. Some of the topics discussed are: Risk profiling The responsibilities of the insurer, the broker, and consumer in terms of the Long-term and … Continued
Posted on 14 May 2019
The latest newsletter of the Ombud for Short-term Insurance (OSTI): The Ombudsman’s Briefcase Issue 1 of 2019 published on the OSTI’s website contains a few case studies, consumer tips and announcements. Some of the announcements are the OSTI’s Annual Report launch and the OSTI’s new complaint handling process. The OSTI’s Annual Report for 2018, which … Continued
Posted on 14 May 2019
The Council for Medical Schemes (CMS) recently published CMS Circular 36 of 2019: Amendment to Regulations 31 and 32 of the Medical Schemes Act. Regulation 31 deals with Fees Payable and Regulation 32 deals with Penalties. We have set out all the proposed changes in Table 1. FSPs and their representatives that are approved or … Continued
Posted on 14 May 2019
There has been much debate about risk profiling and its relevance – or lack thereof – in determining an appropriate investment solution for customers. Stepping away from this controversy, we look at what else financial advisors should consider about the customer when deciding on an investment strategy. Gathering information is a critical step in the … Continued
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