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In an environment focused on customer centricity and treating customers fairly, the regulatory landscape is inherently more complex, with supervision and enforcement more confrontational, intensive and intrusive. This is according to Benjamin Vosloo, Manager at KPMG South Africa.
It is coming close to crunch time, the time of the year when the South African public gets insight into the country’s financial wellbeing as well as how much money will be spent on certain parts of the economy.
Over the past two years, brokers and advisers in the insurance industry have had to deal with a lot of change with regards to the way they engage with clients and the way they will be remunerated in the future. This has had some form of impact on the way that business in the industry is conducted. While the industry waits for a period of calm, 2016 will not be that year.
As tax season closes, government is counting the pennies and factoring into their calculations the financial wellbeing of the state. Over the past few years, we have heard the age old story of the budget being a fine balancing act, but have we overcome this to finally tread the line towards prosperity?
The strongest deterrent against FSP compliance missteps is or should be: