Amendments to regulations

Amendments to regulations

On the 15th of December 2017, substantial amendments to the regulations were published.  These amendments are effective as of 1 January 2018. Below is a quick summary of what you need to know. How does this affect you? If you have not entered into a binder agreement with one or more Insurer, then the answer is “not too much” as the amendments to the regulations mostly affect binder arrangements and the insurer’s obligations when entering into...

Read More

Treating Customers Fairly

Treating Customers Fairly

Treating Customers Fairly (TCF) is an outcomes-based regulatory and supervisory framework that aims to make sure consumers or clients in the financial services industry are treated fairly, that they understand fully what the service/product tendered is, and that the appropriate products and services are offered to them, and that they are satisfied with the purchase. TCF principles need to be applied throughout the product/service life cycle,...

Read More