Tag: code of conduct

In a first for the local financial services sector, a diverse collaborative industry work group established following the inaugural SA Market Surveillance Conference held last year, has developed a draft industry code of conduct to guide financial institutions and align with international standards to bolster market surveillance in the country.

In a South African context, ‘dignity’ is a word that is often supercharged, laden with meaning and emotion. Given our dark history where apartheid stripped whole groups of people of their dignity – and because of the prevailing gap between rich and poor, with South Africa having the highest Gini coefficient in the world – we not only have to believe in dignity, we must also strive to uphold it across all aspects of society.

COVID-19 came with its own challenges for businesses, requiring companies to pivot and adapt to new ways of working and changed the working environment completely. Small auditing firms were not spared from this, they needed to quickly adapt and fully equip their employees with resources to ensure that they continue to operate and serve their client’s needs.

From 1 March 2024, latecomers to the Consumer Goods and Services Ombud scheme will face a five per cent increase on the late joiner’s fee imposed by the Board in March 2022. The fee is based on a percentage of the annual participation fee, which in turn is based on turnover (see table below).

There are tens of thousands of financial advisors in South Africa, but there is considerable variability in the quality of advice they offer. Many will focus on investments and other financial products you may need, but a good advisor’s role is a more demanding one.

Conclusions and recommendations made in part one of the state capture inquiry report align closely to a letter sent by the Institute of Directors South Africa (IoDSA) to the Zondo Commission in September 2021. The letter included recommendations on director competencies as well as the nomination and selection of directors.

In order for a representative to be debarred, there must be non-compliance by the representative or the key individual of the financial services provider with, amongst other things, the 'fit and proper' requirements of the FAIS Act.

Keep up to date on the most important Financial Services Regulation developments in South Africa in June 2021.

On 10 December 2020, the Competition Commission issued the final guidelines for competition in the South African Automotive Aftermarket (Automotive Guidelines). The Automotive Guidelines are forward thinking as the measures proposed therein apply not only to internal combustion engines (ICE) but also to electric vehicles (EV's) and to propulsion by other means (i.e. hybrid).

Integrity costs nothing, but when you lose it, you lose everything. Integrity is key to everything we do. It is pivotal to business. We need to impart integrity to the youth, act with integrity in relationships, show integrity in parenting and, in fact, in everything we do.