Explore the Category
If the Financial Services Board’s RDR proposals are legislated, it won’t necessarily be the end of the world: in fact, some advisers will hardly notice the difference, while others that are more proactive will actually thrive.
Since the Financial Services Board (FSB) first published their roadmap for the Solvency and Assessment (SAM) in 2010, traditional insurers have dedicated resources to develop their systems and processes in preparation for the SAM regime. But as captive and niche insurers typically have little to no full time employees, skilled or available outsourced service providers play an important role in the development phase and providing continuous support in implementation. This begs the question of whether captive and niche insurers are keeping pace with the onerous requirements of SAM implementation.
The lead up over the past eight years to the second draft of the demarcation regulations released by National Treasury (“NT”) in April 2014 makes for some interesting reading.
• 3 key drivers are closing the gap between corporate and societal value creation • Externalities are likely to have increasing impact on corporate value creation • KPMG sets out 6-point Agenda for Change to align corporate and societal value creation more closely
The strongest deterrent against FSP compliance missteps is or should be: