Africa
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.
Aisa International moves into South Africa with fee-based firm
Cross-border financial planning firm Aisa International has expanded into South Africa after being granted a licence by the country’s financial services regulator.
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).
Optimus launches offshore pension fund for South Africans
Isle of Man-based pension provider Optimus has launched a new offshore retirement fund aimed at wealthy South Africans.
South African IFA firm to expand adviser training school
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.