South Africa budget targets high earners with top rate hike

South Africa budget targets high earners with...

South Africa finance minister Pravin Gordhan has announced a new top tax bracket of 45% in his 2017 Budget.

Published : 24, Feb 2017
South Africa’s Lombard Life fined by regulator

South Africa’s Lombard Life fined by regulator...

The Financial Services Board (FBS) of South Africa has fined Lombard Life for not complying with rules about informing policyholders of their right to appeal after the company rejected their claims.

Published : 21, Feb 2017
Ex-boss of £6m S. African scam fund loses ban appeal

Ex-boss of £6m S. African scam fund loses ban...

South Africa’s financial services regulator has dismissed an appeal to overturn the ban of the former boss of collapsed asset manager Interneuron, which swindled investors out of R100m (£5.9m, $7.4m, €6.9m).

Published : 10, Feb 2017
DeVere Acuma admits not disclosing commission in S Africa

DeVere Acuma admits not disclosing commission...

South African advisory firm deVere Acuma has confirmed that it did not disclose commission charges of nearly £65,000 ($81,114, €75,198) taken from a client’s portfolio over four years, reports local news feed Moneyweb.

Published : 6, Feb 2017
Expats in South Africa facing ‘turmoil’ ahead of tax hikes

Expats in South Africa facing ‘turmoil’ ahead...

Wealthy expats living in South Africa are set to be hit hard by sweeping tax increases set to be announced in the country’s budget later this month.

Published : 2, Feb 2017
deVere Group ‘under attack’ in S Africa, says CEO Green

deVere Group ‘under attack’ in S Africa, says...

deVere Group founder and chief executive Nigel Green has said that his financial advisory firm is “under attack in South Africa” following a series of alarming events aimed at discrediting the group.

Published : 24, Jan 2017
South African IFA firm kicks off adviser internship programme

South African IFA firm kicks off adviser internship...

Cape Town-headquartered IFA firm Carrick Wealth has launched an internship programme for university graduates as part of the Carrick Development Academy (CDA) Graduate Programme.

Published : 23, Jan 2017
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

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