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Press Room (Page 2)

Press Archive »

Iza Wealth (Pty) fined R50 000 for Collective Investment Schemes Act Contravention

Published: Wed, 12 Apr 17

The Registrar of Collective Investment Schemes (the Registrar) referred a case against Iza Wealth (Pty) Limited (the Respondent) to the Enforcement Committee of the Financial Services Board. The referral related to a contravention of section 65 of the Collective Investment Schemes Act, 45 of 2002. The Registrar ...
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FNB launches Augmented Reality on its App

Published: Wed, 12 Apr 17

FNB continues to shape the future of banking by introducing Augmented Reality and FNB TV on the FNB Banking App. Launched this week, the eBucks Partner locator on the FNB App uses augmented reality technology to help customers find nearby eBucks retail partners, and FNB TV to help customers navigate banking easily ...
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Bowmans advises on high-profile competition matters recognised at the Global Competition Review Awards

Published: Wed, 12 Apr 17

Pan-African law firm Bowmans advised or was associated with three matters that were recognised as winners at the 7th Annual Global Competition Review (GCR) Awards held in Washington on Wednesday, 28 March 2017. The GCR Awards recognise the best competition and antitrust matters of the year based on votes by members ...
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One time when ‘too good to be true’ is true

Published: Tue, 11 Apr 17

There is an estimated R20bn due to as many as 3. 5 million South Africans in pay-outs from financial services policies, which have not been claimed. The unclaimed benefits space is getting a long overdue disruption. Deidre Wolmarans, Head: Life Events Solutions at Metropolitan, says that most of the money is residuals ...
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Liability cover and the operation of the retroactive inception date

Published: Tue, 11 Apr 17

    Patrick Bracher, Director Norton Rose Fulbright South Africa Inc.     Where an insurance policy had a retroactive date so that there was no indemnity for any claim ‘arising from or in any way involving any act, error or omission committed’ prior ...
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The 10 key themes investors must not ignore in 2017

Published: Tue, 11 Apr 17

Marianna Georgakopoulou Head of Asset Allocation at Ashburton Investments   Global macro indicators are currently strong, with a clear cyclical recovery underway in most regions of the world. In particular, industrial and consumer survey data in the US is extremely positive. However, we are cognisant expectations ...
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From Inclusive Growth to Radical Economic Transformation

Published: Mon, 10 Apr 17

    Jac Laubscher, Economic Advisor: Sanlam Limited       The rationale given by President Zuma for his recent cabinet reshuffle is to improve the efficiency and effectiveness of the government in furthering the agenda of “rapid economic transformation” ...
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Could tourism be the new mining boom for SA?

Published: Mon, 10 Apr 17

Throughout the economic downturn, which began in 2008, the tourism industry has continued to be an economic driving force for South Africa. With all the challenges experienced in the mining and manufacturing sector in 2015 and 2016, tourism has been one industry that continued to prove its economic potential in a ...
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What's Your Back Pocket Story?

Published: Fri, 07 Apr 17

      Jacques de Villiers www. jacquesdevilliers. com       There are times in the life of a professional speaker where he or she is going to run into trouble. Most speakers have stories from their lives and should have them ready in case things go wrong ...
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SA urged to remain positive despite downgrade

Published: Fri, 07 Apr 17

Pretoria: National Treasury on Friday urged South Africans to remain positive and continue to work towards turning the economy around. This as ratings agency Fitch Ratings (Fitch) announced earlier on Friday that it has downgraded government’s long-term foreign and local currency debt to 'BB+' from 'BBB-' ...
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Fitch downgrades SA to junk status, but outlook revised to stable

Published: Fri, 07 Apr 17

By Sanisha Packirisamy, Economist at Momentum Following the lead of Standard and Poor’s Global Ratings (S&P), Fitch downgraded SA’s foreign currency rating to junk Similar concerns led Fitch Ratings agency to downgrade the country’s long-term foreign and local currency ratings by one notch ...
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BASA response regarding Fitch Ratings Announcement

Published: Fri, 07 Apr 17

By Cas Coovadia, MD of the Banking Association of South Africa   The downgrading by Fitch, of both the foreign and local currencies of SA to sub-investment grade is devastating, though not unexpected. The fact that Fitch has directly attributed its downgrade to the actions of the President demonstrates ...
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SA’s investment potential more than its credit rating

Published: Fri, 07 Apr 17

Johannesburg: Despite the decision by Standard & Poor’s (S&P) to downgrade South Africa’s sovereign credit rating, the country could continue to improve its attractiveness as a Foreign Direct Investment (FDI) destination, according to leaders of some of the country’s most respected companies ...
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FSB grants A2X (Proprietary) Limited (“A2X”) an exchange licence

Published: Thu, 06 Apr 17

In terms of section 9(1) of the Financial Markets Act, 2012 (“the Act”) the Registrar of Securities Services (“the Registrar”) may, after consideration of any objection received as a result of a notice referred to in section 7(4) and subject to any conditions which the Registrar may consider ...
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What should South Africans do following the credit rating downgrade?

Published: Thu, 06 Apr 17

The recent decision made by credit rating agency Standard and Poor's (S&P) to downgrade South Africa's rating to junk status has compounded uncertainty in the local market and resulted in the continued weakening of the country’s currency. While this decision will likely result in higher ...
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BASA meeting with new Minister of Finance

Published: Thu, 06 Apr 17

By Cas Coovadia, MD of the Banking Association of South Africa   The leaders of South Africa’s banks met yesterday afternoon, with the National Treasury team comprising of new Minister of Finance, Malusi Gigaba, Deputy Minister of Finance, Sifiso Buthelezi and other senior officials. The ...
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Coface appoints local CEO

Published: Thu, 06 Apr 17

            Coface South Africa CEO-country manager, Jacqui Jooste             Coface, the French-based trade credit insurer, has announced the appointment of Jacqui Jooste as Coface South Africa CEO-country ...
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Director General to leave National Treasury

Published: Thu, 06 Apr 17

Pretoria: The Director General at National Treasury, Lungisa Fuzile, will leave Treasury next month. The Director General’s contract was due to end in May 2018, Treasury confirmed on Wednesday. “However last week, he requested former Minister Pravin Gordhan for a redetermination of his contract with the ...
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FSB warns the public against Zip Toch (Pty) Ltd trading as African Loans Online

Published: Wed, 05 Apr 17

The Financial Services Board (FSB) would like to warn the public to act with caution when dealing with Zip Toch (Pty) Ltd t/a African Loans Online. Zip Toch (Pty) Ltd t/a African Loans Online is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render ...
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FSB warns the public against Info Loans Services

Published: Wed, 05 Apr 17

The Financial Services Board (FSB) warns the public to act with caution when receiving correspondence from Info Loans Services offering loans. The certificate of Stanlib Wealth Management Limited, with FSP number 590 is attached to the correspondence sent to prospective clients of Info Loans Services. The ...
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