South Africa to bring in 50% cap on upfront commission

South Africa to bring in 50% cap on upfront commission...

South Africa’s Financial Services Board (FSB) will limit upfront commission to 50%, with the remainder set to be paid on an “as and when” basis as further details emerge on how the regulator will introduce the first set of Retail Distribution Review (RDR) measures.

Published : 5, Jan 2017
Aisa International moves into South Africa with fee-based firm

Aisa International moves into South Africa with...

Cross-border financial planning firm Aisa International has expanded into South Africa after being granted a licence by the country’s financial services regulator.

Published : 4, Jan 2017
South Africa sets out commission ban under RDR

South Africa sets out commission ban under RDR...

South African regulator, the Financial Services Board (FSB), has revealed details on how it will implement a cap on commission payments as part of the country's Retail Distribution Review (RDR).

Published : 4, Jan 2017
Optimus launches offshore pension fund for South Africans

Optimus launches offshore pension fund for South...

Isle of Man-based pension provider Optimus has launched a new offshore retirement fund aimed at wealthy South Africans.

Published : 14, Dec 2016
South African IFA firm to expand adviser training school

South African IFA firm to expand adviser training...

Cape Town-headquartered IFA firm Carrick Wealth is expanding its flagship Invictus programme, a training academy launched earlier this year aimed at the company’s would-be advisers.

Published : 30, Nov 2016
South Africa considering tax changes to offshore pension funds

South Africa considering tax changes to offshore...

South African tax authorities may clamp down on the way overseas pension products are taxed, according to Martin Hall, director of Isle of Man-based Optimus.

Published : 29, Nov 2016
Sanlam increases stakes in two Indian insurance companies

Sanlam increases stakes in two Indian insurance...

South African financial services group, Sanlam has acquired bigger stakes in two Indian insurance companies, following recent regulatory changes that allow up to 49% foreign shareholding in insurance companies in the country.

Published : 16, Nov 2016
Five top advisers predict the perfect business in five years

Five top advisers predict the perfect business...

The financial advisory space is undergoing an enormous amount of flux at the moment.

Published : 16, Nov 2016
Caldora follows Belvedere in losing Mauritius licence

Caldora follows Belvedere in losing Mauritius...

Caldora Asset Management, operators of the Mauritius-domiciled Caldora Offshore Balanced Fund which suffered a spectacular drop in returns after its launch, has had its licence terminated.

Published : 9, Nov 2016
S. Africa rand jumps after state corruption report released

S. Africa rand jumps after state corruption report...

The rand got another lift on Wednesday reaching its strongest level in over a month against the dollar after the courts ruled that the Public Protector’s report into so-called ‘state capture’ must be released.

Published : 2, Nov 2016
Mauritius suspends Belvedere unit's fund management licence

Mauritius suspends Belvedere unit's fund management...

Belvedere Fund Manager Ltd, part of the troubled Mauritius-based fund house Belvedere Management Group (Belvedere), has had its licence to operate collective investment schemes (CIS) suspended by the Indian Ocean island nation.

Published : 31, Oct 2016
Tackling the offshore return conundrum from South Africa

Tackling the offshore return conundrum from South...

“One of the biggest challenges I have faced as an adviser in South Africa in the past few years is generating a positive return for clients from international equities,” says Mark Jurgens, head of the Jurgens Group.

Published : 26, Oct 2016
South Africa contemplates introducing new wealth tax

South Africa contemplates introducing new wealth...

South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.

Published : 25, Oct 2016
Australian regulator signs fintech agreement with Kenya

Australian regulator signs fintech agreement with...

The Australian Securities and Investments Commission (ASIC) has signed a cooperation agreement with the Capital Markets Authority of Kenya (CMA) in a bid to boost financial services technology for both countries.

Published : 24, Oct 2016
South Africa’s Inkunzi launches new robo-adviser app

South Africa’s Inkunzi launches new robo-adviser...

South Africa’s Inkunzi Wealth Group (IWGSA) has launched a robo-advice tool aimed at the country’s professionals.

Published : 19, Oct 2016
Kenya targets Islamic sukuk in financial services push

Kenya targets Islamic sukuk in financial services...

Kenya has unveiled a new body dedicated to promoting its fledgling Islamic finance industry, as part of a wider strategy to position itself as an International Finance Centre (IFC).

Published : 17, Oct 2016
South African IFA Carrick Wealth moves into Botswana

South African IFA Carrick Wealth moves into Botswana...

South African advisory firm Carrick Wealth has opened a new office in Botswana as part of a wider expansion across the continent, the firm has revealed.

Published : 5, Oct 2016
Concerns raised over plans to create Kenyan super regulator

Concerns raised over plans to create Kenyan super...

Kenya’s financial services industry has raised concerns over plans announced by the country’s government earlier this year to merge four supervisory authorities in order to create one super regulator.

Published : 3, Oct 2016
Morocco's Saham Finances buys Mauritian insurer Sun Insurance

Morocco's Saham Finances buys Mauritian insurer...

Moroccan insurer Saham Finances has bought Mauritian insurer Sun Insurance for an undisclosed sum, the company has confirmed.

Published : 23, Sep 2016
Major Sth African insurer targets international life markets

Major Sth African insurer targets international...

Provisca, the international distribution business launched in August by Nigel Watson and Bryan Low, has signed its first partnership agreement, opening up the products of South Africa’s third largest listed insurer to international markets.

Published : 5, Sep 2016

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