Compliance - Regulatory

Do you know…about the new policyholder protection rules? - Part 7

A tough first quarter for local collective investment schemes

The local Collective Investment Schemes (CIS) industry reported a 3.2% drop in assets under management for the first quarter of this year as a result of difficult market conditions and subdued net inflows on the back of bruised investor sentiment.

Whose fault is it?

In a recent determination by the Financial Advisory and Intermediary Services Ombudsman (FAIS Ombud), the complaint arises out of the rejection of the complainant’s claim for a stolen motor vehicle on the basis that the complainant had not complied with the minimum-security requirements.

FSCA warns the public against Donafin (Pty) Ltd

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with an entity called Donafin (Pty) Ltd (“Donafin”) and its representatives Sean Westcott (“Mr Westcott”) and Leon Lincoln (“Mr Lincoln”). Donafin, Mr Lincoln and Mr Westcott are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render any financial advice and intermediary services.