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16 November 2018 Financial Service Intelligence Watch

Discovery may go to court after CMS bans products

Legalbrief Today

Discovery Health (Pty) Ltd may turn to litigation after the Final Board of Appeals of the Council for Medical Schemes (CMS) banned two of its medical insurance products, says Rapport. The appeals board ordered Discovery to cease its coverage of about 30 000 people on its Comprehensive Primary ...

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Alleged Ponzi scheme mastermind pleads not guilty

Legalbrief Forensic

Alleged Ponzi scheme mastermind Goodman Goqo – accused of defrauding more than 4 000 people out of R76m – pleaded not guilty to all 16 452 charges against him yesterday, says a News24 report. ‘We are making no admissions. The state must prove its case,’ his attorney ...

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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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