South African regulator bans adviser exam cheats
South Africa’s Financial Services Board (FSB) has taken action against a large number of individuals who cheated or facilitated cheating on exams to become qualified financial planners.
South Africa
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DeVere CEO slams South African expat tax as discriminatory
South Africa’s decision to tax expats and overseas workers on their foreign income is totally unjust, highly discriminatory and achingly regressive, says deVere Group founder and chief executive Nigel Green.
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S Africa to scrap tax exemption for expats, overseas workers
South Africans living and working in no and low tax jurisdictions will no longer be exempt from paying tax on their overseas earnings from March 2019 under proposals from the country’s Revenue Services (Sars).
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IoM’s collapsed Louis Group gets second director ban
A second Isle of Man director of South Africa-headquartered Louis Group, which saw 700 investors lose at least £60m ($78m, €67.4m), has been disqualified as a director.
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Science beats psychology in advice, says S Africa’s PCH
With South African clients focused on overseas investment opportunities, local wealth manager Private Client Holdings (PCH) uses investment science rather than psychometric testing to advise clients.
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Professionals are the future of South African advice
With game-changing regulation on the horizon, Kieron McRae, development and brand director at South African advice firm Carrick Wealth, talks about how the industry and can only thrive by becoming more professional and investing in training the next generation of advisers.
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Why a wealth tax in South Africa won’t work
In April, a committee set up to review South Africa’s tax system unveiled plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality and a dwindling tax base. Here we look at the reasons it’s unlikely to work.
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South Africa’s RDR to tighten independence rules for advisers
When South Africa’s Retail Distribution Review (RDR) is fully introduced, product suppliers to IFAs will be held much more accountable for customer outcomes, according to Caroline da Silva of the country’s main regulator, the Financial Services Board.
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South Africa’s Investec to expand into life insurance
South Africa-headquartered asset manager Investec has announced it will expand into offering life insurance to its clients.
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Ex-deVere regional manager joins Carrick Wealth: PEOPLE MOVES
A former deVere regional manager for Africa is to join Carrick Wealth as group business development manager. Generali has appointed a country manager for France, with StanChart Private Bank adding a director of its wealth intermediaries team.
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DeVere appeals South Africa court ruling on ex-manager payoff
DeVere Investments has appealed a court ruling that it must pay ZAR3.7m (£217,380, $280,535, €256,142) in outstanding commission, notice paid and an unpaid portion of a bonus to an area manager it fired.
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Ex-deVere South Africa manager wins court payout
A sacked area manager of deVere Investments South Africa who faced off against group chief executive Nigel Green in court has been awarded a ZAR3.7m (£217,380, $276,020, €252,420) payout.