One Clear message
Events Organisers in Sandton
www.oneclearmessage.com
Address
. Magalies View. Sandton. Gauteng. 2067Are you the owner or manager of this company?
What you should know about One Clear message
Training Human-to-human business presentation skills training workshop. Building a more resilient and stable financial system in South Africa. In the financial sector the Twin Peaks legislation model of regulation will involve the creation of the Prudential Authority (a prudential regulator in the South African Reserve Bank SARB) and the Financial Service Board FSB will become the Financial Sector Conduct Authority (the dedicated market conduct regulator). The Financial Sector Conduct Authority will be required to protect financial services customers and improve the way providers do business. TCF is new legislation in the financial services sectors (banking, insurance, investments, etc) underpinned by 6 consumer outcomes that ensure fair treatment of customers. The main aim of Retail Distribution Review RDR is to improve professional standards in the Financial Services industry. The RDR will impact the way Financial services conduct business in numerous ways. These include the introduction of fee-based advice, the elimination of commission, instituting exams (demonstrating professionalism) and unbundling the investment value chain (advisers, platforms and fund managers). In the new Retail Distribution Review RDR landscape advisers will need to clearly demonstrate the value of the services they provide to their clients. Unfortunately many aspects of financial advice are fairly intangible, and as the results of the advice only become clear in the future. Qualified advisers are able to guide their clients through the multitude of decisions they face over their lifetime. They provide services and expertise that go beyond finding the right type of investment strategy, or products. They keep clients on track to achieve their short, medium and long-term financial goals. Remuneration should not create conflicts of interest that impact the delivery of suitable product advice, and fair customer outcomes. Remuneration structures need to find a balance between supporting service delivery and fairly compensating intermediaries for services rendered. Ongoing fees/commission can only be paid if ongoing advice and services are delivered. All fees must be motivated, disclosed and specifically agreed to by the customer. Twin peaks legislation, RDR and TCF combine together to help strengthen the markets and build a more resilient and stable financial system in South Africa.
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