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Battling companies must apply for business rescue, says PFA

06 May 2015 | PFA - Pension Fund Adjudicator

A company under financial stress and having difficulty meeting its obligations, including payment of provident fund contributions, would do well to apply to be placed under business rescue, says Pension Funds Adjudicator Muvhango Lukhaimane.

Dti remains mum on amended BEE codes despite looming 1 May deadline and industry confusion

04 May 2015 | BEE (Black Empowerment)

With just hours to go before the B-BBEE Amended Codes of Good Practice come into law on 1 May, the dti has yet to clarify several important points, including the draft QSE codes and revision of sector codes, and agencies have still not been accredited to issue certificates under the new codes.

Hidden truths are spoken lies

30 April 2015 | FAIS Ombudsman

Author Fyodor Dostoyevsky once said, “the man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others.”

Where do duties begin and end

29 April 2015 | PFA - Pension Fund Adjudicator

For much of the 19th century, the mystery of the Nile was one that was foremost on the public’s minds. Where did the Nile begin? In a sense, a similar question is plaguing the minds of many in the financial services industry. In the new regulatory environment that the Financial Services Board (FSB) hopes to create, where does one’s responsibility to the client begin and where does it end?

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Question

Are financial advisers ready for the combined impact of COFI and AI?

Answer

Yes, fully prepared and already adapting Somewhat prepared, but still facing implementation challenges Not yet prepared, more time and support needed Unsure / still assessing the impact

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