Explore the Category

Scam alert: The FAIS Ombud warns against funeral policies offered on social media platforms

06 December 2022 | FAIS Ombudsman

The Office of the FAIS Ombud warns consumers to be cautious of funeral service providers offering their services to consumers exclusively on social media platforms.

Not clear yet, if the regulator is comfortable

06 December 2022 | General

The South African Reserve Bank (SARB) announced the intention to declare cryptocurrency as a financial product. The question is… will we finally see crypto regulation in South Africa?

Complacency on cyber threats is a compliance disaster waiting to happen

30 November 2022 | General

The work-from-home revolution has largely shifted to a hybrid model, with going into the office being the norm again for many. While compliance around Covid-19 safety regulations has relaxed, complacency at work may have crept in on some crucial factors for business to continue safely and securely.

Great job FAIS Ombud; but what about that syndication mess?

28 November 2022 | FAIS Ombudsman

The FAIS Ombud Annual Report 2021-22 released late November 2022 details the busiest year on record for the institution tasked with resolving consumers’ complaints against poor advice or conduct by South Africa’s financial intermediaries. During the period under review, the Office of the FAIS Ombud (Office) received a record 11 827 new complaints, growing by 10.8% over the prior year. More than two thirds of the complaints received, or 8 011 cases in total, fell within the office’s mandate for further investigation.

quick poll

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

View the Results