Regulatory Exams – Testing Times Ahead

Whilst many advisors breathed a large sigh of relief as they managed to accrue the necessary credits at the end of last year and wondered if there would be any further tests of knowledge forthcoming from the Financial Services Board. For some time there were rumours and whispers that a further set of examinations would […]

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Ensuring Compliance Independence

It is a fundamental principle of compliance practice that the compliance function should be sufficiently independent of the business activities to be able to discharge its responsibilities objectively. This includes being able to operate and communicate in an unhindered manner, says Julie Methven CEO of The Compliance Institute of South Africa. Segregating duties is one […]

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Compliance independence – avoiding conflicts of interest

The recently published Generally Accepted Compliance Practice Framework (GACPF) stresses that in order for the compliance function to be effective it must be independent of other business activities, so it can discharge its duties objectively, both to the company and to the relevant regulator.  This can sometimes be difficult in practice, and avoiding conflicts of […]

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It’s not the thought that counts

When was the last time you had a good idea – one that really worked for you? On the other hand, have you been in a situation where you thought you had a good idea and it didn’t work out the way you expected? You may feel that you may not need new ideas to […]

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Financial Adviser Numbers Decline as Regulation and Recession Take Their Toll

But the emergence of younger blood should contribute to renewal in financial services The number of registered financial advisers active in the South African financial services industry has declined over the past year as intermediaries battle to deal with the challenges of more demanding regulation and the tough socio-economic environment. The number of financial advisers […]

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Does your ‘buy and sell’ agreement effectively ensure your business’ continuity?

Continuity is a key business risk faced by many independent financial planners. In essence, business continuity provides a sense of certainty and peace of mind around an unpredictable future event. For financial planners, succession planning is vital in ensuring business continuity and sustainability. However, according to a recent survey among local compliance officers, very few […]

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The potential impact of the draft Regulation 28 on retirement annuities

The recent release of the draft amendments to Regulation 28 of the Pension Funds Act has led to much speculation about the potential impact on certain savings and investment products. The assumption has been made, for example, that the proposed amendments to Regulation 28 of the Pension Funds Act would make retirement annuity (RA) funds […]

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Strong disinflationary pressures will keep CPI lower for longer

At 4.8%, CPI inflation surprised the market yet again. Although a good headline number, the real story is in the detail. This is the first time since we have started forecasting inflation that every single item came in better than our expectations and I expect this was probably the case across the market. Food was […]

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Rezco Outperforms for the Second Year in a Row

For the second year in a row Rezco Value Trend Fund has won a prestigious Raging Bull Award, outperforming all its competitors in the flexible asset allocation sector over five years. Rezco’s strategy has enabled the fund to show a return of 19.6 percent a year over the five years to December 2009.  The Raging […]

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Government debt has risen to worrying levels, especially in the large mature economies

What a difference a year makes. The intense fear of a global banking system collapse and impending global depression, which prevailed at the end of 2008 and the start of 2009, has been dispelled and replaced by cautious optimism for a modest global economic recovery in 2010. In the early part of 2010, the global […]

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