Bye bye FSB, hello FSCA


By Shayne Krige, direct and head of invesemtns funds at Werksmans Attorneys.​ As of 1 April 2018, there is a new sheriff for the South African financial services sector. The Financial Services Board (FSB) has been replaced by the Financial Sector Conduct Authority (FSCA).  Here are five things you need to know about this development. The change from the […]

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Old Mutual Limited expected to list on the JSE  on 26 June 2018

Old Mutual Limited has made public its pre-listing statement, an important step towards its launch as an independently listed, leading financial services group.  It is expected that listing will take place on 26 June 2018 following receipt of the requisite approvals, including approval by the Old Mutual plc shareholders. Peter Moyo, OML CEO says, “We […]

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OSTI releases Annual Report

The Ombudsman for Short-Term Insurance (OSTI) has released its Annual Report on Operations for 2017. Key highlights for the year are that 9 962 complaints were resolved in an average turn-around time of 131 days with an amount of R87 101 354 recovered for consumers. (more…)

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President Ramaphosa: SA is creating an enabling environment for investment

  LONDON, United Kingdom, April 19, 2018/ — President Cyril Ramaphosa told investors and business leaders that South Africa is on the road to economic recovery as government is creating an enabling environment to boost investor confidence. (more…)

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Responsible investment: A set of principles, not a product

In an environment where listed companies are seeing massive share-price drops over claims of governance failures and health scares around the listeriosis outbreak, there is a growing awareness of a need for responsible investing – by individual and institutional investors. (more…)

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PSG Konsult announces strong annual results

PSG Konsult (KST) announced today that it delivered a solid 16% rate of growth in recurring headline earnings per share and a return on equity of 24% for the period ended 28 February 2018. This was achieved during a year of tough operating conditions, in which the country continued to be plagued by low economic […]

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Optimism returning to East Africa

There is a returning sense of optimism in East Africa, and the investment community is gearing up to take part in the next chapter of the region’s blossoming. (more…)

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Fun for all at the 2018 Glacier Cradle Traverse

The 2018 Glacier Cradle Traverse took place from 6 – 8 April at Avianto Estate in Muldersdrift, Gauteng. The annual event features three-day, two-day and fun ride options and provides mountain bikers with the chance to explore some of Gauteng’s best singletracks in a relatively non-competitive atmosphere. (more…)

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Cryptocurrencies and tax – what you need to know

By Doelie Lessing, tax director at Werksmans Attorneys. The advent of cryptocurrencies, and in particular the substantial gains that are associated with investments in cryptocurrencies, caught the attention and interest of the world – and not least of all, that of the taxman.  Because where money abounds, tax is normally to be collected.  (more…)

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The magic duo in financial planning: man and machine

Technology is changing the playing fields in business – and in the financial planning environment in particular, can allow intermediaries to enhance their business operations and their client engagement. On the other hand, the human element is similarly important – for insight, holistic thinking and a trusted relationship. Optimally combining the two, in a well-considered […]

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Employees’ over-indebtedness and how employers can help

Debt is spending money that you have not yet earned. Examples of debt include long-term debt such as your mortgage loan – this is a form of secured debt or “good debt” because over time the asset (your house) appreciates in value and, should you default on the debt, the house can always be sold […]

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