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Amended long-term insurance regulations

By Patrick Bracher and Claudia Eisenberg Jackson Norton Rose Fulbright South Africa Inc. The amendments to the Long-term Insurance Regulations gazetted on 15 December 2017 became effective on 1 January 2018 with some later effective dates below. The corresponding amendments to section 49 of the Long-term ...
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Registrar issues guidance note on reappointment of debarred reps

A newly published document by the Registrar attempts to address some of the practical problems experienced in the past “16. The frequency of representative complaints reported to the Registrar's office, and the intensity of debate around the issue of debarments by FSPs in terms of section ...
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Fais: New Fit and Proper Regulations and the Regulatory Exams

The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. Do not be fooled by the fact that the determination, sans the annexures, only consists of 40 pages. We will cover this in more detail ...
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FSB Appeal Board Halves Debarment Period in Baloyi Case

A recent case before the FSB Appeal Board saw the period of debarment halved which is an interesting deviation from previous views held by the Board on its powers to interfere in decisions by the Registrar. In May last year we published an article in which we discussed this very matter: Appeal Board ...
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Old Mutual Emerging Markets is on track with managed separation

Further to the media release on 9 January 2017, we are pleased to announce that the Competition Tribunal has approved the acquisition of Old Mutual plc by the newly incorporated Old Mutual Limited, as was recommended by the Competition Commission. This approval by the Competition Tribunal is a significant ...
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Acceptance Period:

The period of time after the inception of a contract during which the investor may withdraw from the contract without any penalties.
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