Posted on 29 Sep 2021
Are you pondering how to grow your revenue after the massive financial impact of the current worldwide pandemic? Whether you operate as a typical sole proprietor or an FSP with representatives, your business could benefit significantly with the targeted help of representatives. Consider the value that representatives could or do add to your business, and … Continued
Posted on 29 Sep 2021
The Ombudsman for Short-term Insurance (OSTI) has published the second edition of its newsletter for 2021: The Ombudsman’s briefcase Issue 2 of 2021. This issue contains news and events, case studies, consumer tips, as well as some statistics and trends from 2020. Some of the OSTI’s statistics for 2020 reveal the following: Motor Vehicle Insurance … Continued
Posted on 29 Sep 2021
One of the important elements of the Office of the FAIS Ombud’s (the Ombud) mission is to ensure the fair and expeditious resolution of complaints. However, in a recent determination, Fredrick Hendrik Kotze v Ombud and Another (FAB38/2021)[2021], the Financial Services Tribunal (the tribunal) set aside the Ombud’s determination to hold the financial advisor liable … Continued
Posted on 29 Sep 2021
The Minister of Finance has published draft regulations which propose to designate the “provision of a benchmark” as a financial service in accordance with the Financial Sector Regulation Act (FSR Act) and to specify that the Financial Sector Conduct Authority (FSCA) is the responsible authority for the regulation, supervision and oversight of the financial service. … Continued
Posted on 29 Sep 2021
The Financial Intelligence Centre (FIC) released its 2020/21 Annual Report which contains an overview of the work that the FIC has been involved in during the reporting period. The report highlights new and adapted approaches that the FIC took in finding ways to continue fulfilling its obligations amidst the pandemic, how it accepted additional oversight … Continued
Posted on 29 Sep 2021
Liquidity Calculation FSPs (CAT II, IIA, and III) who are required to maintain liquid assets and whose financial year end was 28 February 2021, are required to submit Form A: Liquidity Calculation (Annexure six of BN 194 of 2017) to the FSCA by 15 October 2021. Deadline for payment of Levies FSPs are … Continued
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