South Africa
Investec expects profit hit from S. African retail investment
Investec has moved to reassure investors that its exposure to the Steinhoff Group of companies will result in a maximum potential loss of around 3% of group post-tax operating profit after the South African retailer was accused of accounting irregularities.
Analysis: Political uncertainty keeps South African advisers in limbo
As South African financial advisers await the election of president Jacob Zuma’s successor with bated breath, where this political uncertainty leaves the implementation of the Twin Peaks reforms and the next phases of RDR is anyone’s guess.
DeVere abandons part of South Africa court appeal
DeVere Investment has dropped two of the three points of appeal it lodged after losing a South Africa Labour Appeal Court ruling that it had to pay fired area manager Ross Pennell outstanding commission, notice, and an unpaid bonus.
Investec Life launches in South Africa
Investec has added life insurance to its banking and investment services offering in South Africa.
Analysis: South Africa’s commission conundrum continues
Upfront commission remains a burning issue in South Africa, as the nation’s financial advice sector awaits the regulator’s next move following the signing of the ‘Twin Peaks’ legislation into law.