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Media release: Far from protecting consumers, the Financial Advisory and Intermediary Services (FAIS) Act and Twin Peaks cost billions and add nothing

 26 Mar 18
FAIS, effective in 2004, was supposed to be a significant advance in protecting unsuspecting consumers from ‘rogues’ in the Financial Services sector who were ‘mis‐selling’ unsuitable insurance policies and causing a high lapse rate (when a policy is…

Media release: Twin Peaks now law – a sad day for SA’s financial services consumers

 22 Aug 17
The controversial “Twin Peaks” regulatory system is now law with the signing of the Financial Sector Regulation Act by President Zuma on 21 August 2017 and it is a sad day for consumers of financial services and for SA’s economy.…

Media release: FSR Bill & Twin Peaks is bad policy - should be sent back for reconsideration

12 Jul 17   FMF Media Release
On 22 June 2017, Parliament passed the Financial Sector Regulation Bill (FSRB), which introduces the Twin Peaks regulatory system.…