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16 November 2018 Ethics

South Africa


Operational risk

By Lee Rossini

Over the last few years, the issues facing FSPs have grown in complexity, especially with regard to the operational ability.[1] The standards of operational ability that must be met by an FSP are spelled out in the fit and proper requirements. Operational risk is one aspect ...

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Introducing the ECI’s 2018 Global Business Ethics Survey

‘Across business, leaders have the responsibility to develop and support high quality ethics programs to help reduce risk and drive organizational success.’ Ellen Martin, Vice President, Ethics and Business Conduct, Boeing Company.

The Ethics and Compliance Initiative (ECI) is a best practice community of organisations that are committed to ...

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Good standing

Dr Des Leatt, a consultant to Compli-Serve SA, recently wrote an article in August 2018 which explains the concept in layman’s terms.


Fit and Proper requirements for individuals in the financial sector are here to stay. Board Notice 194 clarifies the requirements for honesty, integrity and good standing, which apply ...

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International


Working Smart

 By Lee Rossini

Andile heads up the administration department of a financial services provider (an FSP). He receives the application forms from the financial advisers after they have recommended a particular product to a client. He picks up that there is a big delay between the financial advisers seeing the client and the forms reaching his department. As a result, he is receiving a lot of complaints about delays. After a brief discussion with a senior manager, they decide that the financial advisers should attend a time-management training programme the following week in the hope that it will solve the problem. Andile outsources the training to a company that specialises in courses of this nature. The financial advisers attend the course and the evaluations indicate that they enjoyed it and anticipate that the newly acquired skills will assist them to perform their jobs better. Andile anticipates an improvement in their performance, but unfortunately this never happens.

What went wrong and why didn’t Andile get the results he was expecting?

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