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How GameStop heroes had their asses handed to them!

08 February 2021 | The Stage

The Reddit / Wall Street Bets price manipulation of GameStop has been reported in the mainstream media as a great victory for amateur traders over the evil hedge fund guys; but history will report the event differently. An objective review of the so-called short squeeze that played out on US markets in January and February 2021 will reveal how gullible individual investors were cajoled into purchasing worthless paper to enrich a handful of their peers. It will also be remembered as a time when gamblers and speculators outnumbered investors in global markets by thousands to one.

A broker by any other name

03 February 2021 | Featured Story

The South African financial advice community should be raked over the coals for failing to define key role players in the sector despite discussing the matter for more than six years. This staggering inability to place appropriate labels on financial advice-givers, and yes, we use advice-givers intentionally, is among the reasons that local consumers are so confused today. How can the industry expect to improve financial advice outcomes when it cannot even reach internal agreement on who consumers should ‘call’ for advice? Let us take a moment to reflect on the history.

Will brokers survive NHI?

02 February 2021 | Straight Talk

South Africa’s healthcare brokers and medical schemes will come under increasing pressure during 2021 as the combined impact of COVID-19 pandemic and the fast-tracking of an un-costed National Health Insurance (NHI) hits home. The CMS Annual Report 2019/20, which was launched on 7 December 2020, confirmed the regulator’s commitment to being a significant player in the implementation of the NHI. This, or so it is written, is in keeping with its mandate to protect medical scheme members’ interests. The irony is that a full implementation of NHI will have negative outcomes for many of the businesses operating in the private healthcare industry, including the CMS.

SARS: ‘Learn from your mistakes; go directly to jail’

29 January 2021 | The Stage

The South African Revenue Services (SARS) has received the green light to criminalise otherwise well-meaning taxpayers for something called negligent non-compliance. In simple language the tax authority could fine or imprison an otherwise law abiding citizen for making an error or mistake on their annual tax return. The handful of citizens applauding this move should reflect on whether their multi-year interactions with SARS are up to code. And that includes the returns filed by tax practitioners on their behalf.

quick poll

Question

Do you think short-term insurance broking will survive the AI plus humanoid robotics age?

Answer

Human first always Not a chance Possibly maybe Yes, but reimagined

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Rule 19 and the replacement advice record

26 January 2021 | Featured Story

Fast-food and the consequences of collective bargaining

22 January 2021 | The Stage

The broker’s dilemma

13 January 2021 | Featured Story

Conflict of interest at the heart of negative financial outcomes

12 January 2021 | The Stage

2021… respond, recover and thrive

12 January 2021 | Straight Talk

Kidnapping and murder rife in insurance fraud

07 December 2020 | Straight Talk

If you’ve got coal, you’ve got problems ~ Buffett: Solving SA’s power conundrum in an age of clean emissions and climate change

27 November 2020 | Straight Talk

Insurers must pay COVID-19 BI claims

19 November 2020 | Featured Story

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