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Lessons from the TCF pioneers

22 November 2012

The Financial Services Board (FSB) is adamant their Treating Customers Fairly (TCF) regime is not a ‘copy and paste’ from the similarly named Financial Services Authority (FSA) legislation. They do however admit that there is no point in re-inventing the

The treating customers fairly evolution

23 October 2012

As stakeholders in the financial services industry fine tune their operations manuals to accommodate Solvency Assessment and Management (SAM) and the new Binder Regulations (to name a few) the Regulators are already putting the finishing touches on the ne

Less advice and lower adviser remuneration on the cards

15 October 2012

On 14 May 2012 National Treasury published a document titled Strengthening Retirement Savings: An Overview of Proposals Announced in the 2012 Budget. The document provides a broad brushstrokes outline of Treasury’s thoughts on reforming the South African

Non-financial legislation adds to compliance burden

11 October 2012

Stakeholders in the financial services industry are beset by legislation. Financial advisers have a particularly tough time ensuring they comply with the myriad laws applicable to the product they sell, the advice they give, and how they interact with con

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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