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An industry punching well above its weight

03 November 2014 | General

The insurance industry plays an important role in providing financial security to the public. Both the short-term and the life sectors work hand in hand to create an industry framework which offers the public a peace of mind that should a significant event happen to them, be it death, disability or unemployment, they will be protected.

Investigation into the FSB

03 November 2014 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Services Board (FSB) is aware of a media statement circulated on 30 October by Kadesh Consulting, which alleges that there is an investigation underway into amongst others, representatives from the National Prosecuting Authority, the FSB and the curator of Fidentia.

RDR – survive and thrive

28 October 2014 | General

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.

Captive insurers, are you ready for SAM?

23 October 2014 | General

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.

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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