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Financial Advisory and Intermediary Services Act 37 of 2002
The following content contains plain language explanations of selected sections of the Financial Advisory and Intermediary Services Act 37 of 2002.
Related Tags (New Search): Advice
The Registar of Long-term Insurance and the Registrar of Financial Services Providers (Applicant) v Mhlangveza Family Assurance (Pty) Ltd, (First Respondent), Mhlangaveza Funeral Services CC (Second Respondent) and Papani Lot Maceve (Third Respondent) (case number: EC26/2015)
An FSP may not sell funeral policies if not registered as a long-term insurer in terms of section 7(1)(a) of the Long-term Insurance Act and if not licensed as an FSP in terms of section 7(1) of the FAIS Act.
Related Tags (New Search): Point of Sale
The Registrar of Financial Services Providers and Regal Financial Services (Pty) Ltd (case number EC11/2016)
Section 3A of the GCC provides as follows: ‘No person may offer or provide a sign-on bonus to any person, other than a new entrant, as an incentive to become a Category I provider that is authorised or appointed to…
Related Tags (New Search): Product & Service Design
The Registrar of Financial Services Providers v Rowe Hooper Insurance (Applicant) and Investment Brokers CC (Respondent) (case number EC27/2015)
Where insurance policies are sold without providing advice, such behaviour brings the financial services industry into disrepute and constitutes a contravention of section 2 of the GCC.
Related Tags (New Search): Advice, Product & Service Design, Point of Sale