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Beneficiary nomination form is only a guide, says PFA

30 January 2014 | PFA - Pension Fund Adjudicator

The Pension Funds Adjudicator has ruled that the inclusion of a complainant in the beneficiary nomination form did not entitle her to automatically receive a share of the death benefit.

FSB Enforcement Committee fines My Lawyer Legal Assistance

30 January 2014 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Enforcement Committee of the Financial Services Board has imposed a penalty of R200 000 on My Lawyer Legal Assistance (“My Lawyer”) for selling insurance policies that were not underwritten by a registered insurer.

Determination shows the need for draconian measures

30 January 2014 | FAIS Ombudsman

While there is no doubt that combatting fraud and corruption within the financial services industry is a major challenge, one needs to determine how wide the net is, and where the unsavoury activities are rooted before an appropriate solution can be sought.

Business continuity and disaster recovery planning

27 January 2014 | General

While some companies have developed contingency plans, most have not. This lack of preparedness not only threatens the viability of sectors around the world but also jeopardises the delivery of critical goods and services.

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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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