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Co-operation, collaboration, and corporate governance with Sabinet’s Financial Regulatory Instruments

10 November 2022 | General

The Financial Sector Regulation Act, 2017 (FSRA) requires the Financial Sector Conduct Authority (FSCA) and the South African Reserve Bank (SARB) to cooperate and collaborate with one another when performing their functions in terms of financial sector laws and on matters relating to financial stability.

Are your clients tripping up over this insurance gap?

10 November 2022 | Association for Savings & Investment SA (ASISA)

South Africa’s life and disability insurance shortfall remains virtually unchanged from three years ago, with the 2022 Life and Disability Insurance Gap Study confirming a staggering ZAR34.3 trillion ‘gap’ measured across all earners. The study, released by the Association for Savings and Investments South Africa (ASISA), and researched by True South Actuaries and Consultants (True South), revealed that the average local income earner had a life insurance shortfall of at least ZAR1 million and a disability cover gap of around ZAR1.4 million at the end of December 2021.

Compliance is key in a post-pandemic world

09 November 2022 | General

The impact of Covid-19 spanned many facets of the business world. The policies and controls that prevent an auditing firm from taking on the ‘wrong’ clients or kind of work fall under our Quality and Risk Management (QRM) function, and the pandemic was able to teach us many valuable lessons about compliance in this regard.

Funds must be harder on employers who fail to pay contributions

08 November 2022 | PFA - Pension Fund Adjudicator

An employer who deducted provident fund contributions monthly from an employee’s salary but failed to pay it over to the fund has been ordered to pay the arrear contributions together with late payment interest.

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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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