FAIS Act is unclear about what services should be licensed

Posted 27 June 2017

The Financial Advisory and Intermediary Services Act (“Fais”) is unclear about which intermediary services require licensing. It violates the Rule of Law principle that laws must indicate with reasonable clarity what is. 

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The case for less rather than more regulation of financial services

Posted 05 February 2016

The government is intent on micro-managing the financial serices sector with layer upon layer of regulation. Now it is the turn of insurers. New regulation will be dumped on the sector despite evidence that customers are on the whole rather satisfied, writes independent consultant Gerrit Sandrock.

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Celebrating a decade of FAIS

Posted 05 October 2014

The Financial Advisory and Intermediary Services (FAIS) Act turned a decade old this week. By all accounts, it has fulfilled its promise of greater transparency and fairness in the marketing and sale of financial products.

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Fais is a flop and should be scrapped

Posted 03 July 2013

Few of the benefits promised when the Financial Advisory and Intermediary Services (Fais) Act was introduced more than a decade ago have come to pass. It should be scrapped, writes Leon Louw of the Free Market Foundation. 

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We are all tax collection agents now

Posted 07 April 2013

South African Revenue Services (SARS) has the power to appoint anyone as its collection agent. It has done it to employers, banks and now retirement funds, writes Ciaran Ryan.

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Budget 2013 Procurement and combating corruption

Posted 28 February 2013

Budget Speech 4The 2013 budget is about delivering "value for money" said finance minister Pravin Gordhan. That means getting serious about stamping out corruption.

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Budget reaction: good job Pravin, but how are we going to get growth above 5%?

Posted 27 February 2013

Budget Speech 3Economists and tax specialists were generous in their praise of finance minister Pravin Gordhan’s 2013 budget delivered yesterday, but the big question remains: where is the growth?

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Personal tax relief of R7 billion announced in 2013 Budget

Posted 27 February 2013

Budget Speech 2Finance minister Pravin Gordhan has announce personal tax relief of R7 billion over the 2013 tax year. Adjustments to the medical tax credit and other relief will add R350 million in relief to South African tax-payers.

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2013 Budget highlights

Posted 27 February 2013

Budget Speech

Finance minister Pravin Gordhan’s 2013 Budget proposals make modest concessions to demands for austerity while continuing to service the growing demands for social welfare. 


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What to expect in the Budget 2013

Posted 25 February 2013

Budget Speech 5There seems to be an emerging consensus among Budget watchers that finance minister Pravin Gordhan will announce tax increases – but not yet.

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