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FSB responds on Jacobus Kellerman

27 March 2015 | Financial Sector Conduct Authority (FSCA) (was FSB)

Following media articles regarding the investigations carried out by the Mauritian Financial Services Commission and the Guernsey Financial Commission into the affairs of Mr Jacobus Kellerman and his associated entities and persons, the Financial Services Board (FSB) has received a number of enquiries about his status as a regulated person and associated financial services provider. Information about regulated persons or entities is freely available on the FSB website: www.fsb.co.za.

Regulation in the insurance industry

23 March 2015 | General

There has generally been a lack of trust within the insurance industry. The industry was perceived to be a necessary evil within the public domain and this perception did very little in driving trust between insurers and policy holders.

Life Ombud - Ombuzz - Compensation

19 March 2015 | Life Ombudsman

Irrespective of the outcome of a complaint on its merits, our office can award compensation for inconvenience, distress or financial loss caused by an insurer's mistake or poor service.

FSB acts to prohibit sign-on bonuses for financial advisers

16 March 2015 | Financial Sector Conduct Authority (FSCA) (was FSB)

Up front bonuses being offered by insurance companies to financial advisers to entice them to leave their current insurer and join them were prohibited by the Financial Services Board (FSB) in December 2014.

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

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

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