The FIA strives to keep abreast with the constant evolution of the consumer, business and legislative landscape. In line with ensuring that our members are up to date with current affairs, here are the top stories from the industry this week.
- Is TCF serving its purpose?
The purpose of regulatory reform is to establish a set of rules and guidelines within an industry that will determine how business is done within that industry. Read more
- Shocking statistics reveal things are getting worse
The cost of crime in South Africa is very difficult to determine, however, there is no doubt the losses are in excess of hundreds of billions of Rands. Bryte Insurance released its Q4 2017 Crime Tracker; an indicator of long term crime trends in South Africa as captured by insurance claims for the period October to December 2017. Read more
- Elite Risk Acceptances to provide unique insurance offering
Elite Risk Acceptances, a specialist underwriter and wholly-owned subsidiary of Old Mutual Insure, is a new entry into the high-net-worth insurance market which will be providing bespoke short-term insurance and personal risk solutions to wealthy. Read more
- Withdrawal of the FPI as a recognised examination body
The FSCA confirms that the recognition of the Financial Planning Institute as an examination body will be withdrawn. The process of transferring all examination data, records and archives over from the FPI to the FSCA will be completed by November 2018. Read more
- Investors in unit trusts could expect more taxes
In the recently published draft Taxation Laws Amendment Bill (draft TLAB), Treasury appears to have taken a tough and inflexible stance in addressing the ongoing industry debate on the income tax treatment of disposal of assets within a Collective Investment Scheme (CIS) – commonly known as a unit trust. Read more