Media Briefing Twin Peaks – health warning

Robert Vivian, Professor of Finance & Insurance at the University of the Witwatersrand & Leon Louw, Executive Director at the Free Market Foundation
12 July 2017
11h00 – 11h30 (sandwiches, tea & coffee will be available)
11h30 – 13h00
FMF, Block 5 Bryanston Gate, 170 Curzon Road, Bryanston (Off Main Road opposite the Sandton Medi-Clinic)
WARNING: This media briefing is bad for your health …

…. but you should attend anyway

Another economic blunder on the cards

Some years ago the Financial Services Board (FSB) announced that it had “deregistered” over 15,900 financial service providers
(For “deregistered” read “made redundant, fired, dismissed, debarred”…)
The FSB did not specify race, but how much are you willing to bet that many of those deregistered were emerging black brokers and advisors?
Now the proposed “Twin Peaks” (or Financial Sector Regulation Bill) will further undermine transformation in South Africa
In addition, it will create an enormous bureaucracy with reams of red tape
But that's not all: It will cost an estimated R4,8 BILLION per year, every year
That’s equivalent to 500,000 RDP houses or 5,000 new clinics per year, every year
South Africa cannot afford another economic blunder...
Understanding what is proposed and that it has zero measurable benefits is worth 60 minutes of your time
Please join us…


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