Teddies for Christmas

The Corporate Governance Framework is proud to be associated with the drive to enhance the lives of South Africa’s children. Every Christmas Big Five Duty Free participates in a Teddy Bear initiative at O.R. Tambo International Airport. For the past two years, the Wot-if? TRUST has helped to distribute teddies to orphanages, nursery schools, Christmas parties and organisations like Teddy Bear Clinic and Children of Fire and Choc.
GovernanceHot news

Piercing the rights of privacy

The Bill provides that citizens, including juristic persons, have the right not to have themselves, or their property searched; not least also the privacy of their communications being infringed. That notwithstanding, the right to privacy has certain limitations which are not often highlighted. These limitations can in fact be ‘the fly in the soup’ so to speak, especially if a person is suspected of — as an example — ‘unlawful behaviour’ in the commercial world. Before elaborating on the manner in which the privacy of either a natural or juristic person’s privacy rights may be invaded, it is important to note that such an intrusion may only be exercised through legal application and where proper processes have been followed. Expectedly, the privacy intrusion, when it is permitted by a Court, must be done on a basis which has reasonable cause and is justifiable

Second insurance regulation conference

On 3 and 4 June 2014 the second annual Insurance Regulation Conference will take place at the The Forum on The Campus in Bryanston. The Conference promises to bring delegates up to speed with the latest legislative changes and help the industry prepare for compliance. This is a CPD point event over two days, and the key issues that will be discussed include international developments in insurance regulation, etc.
GovernanceHot news

FSB takes action against Thuso Burial Scheme

The Registrar of Long-term Insurance (Registrar) has referred a case against Thuso Burial Scheme CC. The Burial Scheme has been practicing long-term insurance business by offering and providing policy benefits to students of the Walter Sisulu University in terms of a group life scheme policy from on or around January 2012 until on or about February 2013. This was done in partnership with Business Zone.
GovernanceHot newsLong-term

When retirement is made impossible

The retirement industry itself has caused this dilemma because of historically high cost and commission structures, structuring of products such as guaranteed products, smoothed bonuses and penalty clauses. This has also been allowed to happen by Trustees Boards approaching retirement fund issues from a perspective of what suits them personally – and not ‘walking’ in their members’ shoes. The same goes for employers who participate in umbrella funds.
GovernanceHot news

When your hobby becomes your business

In today’s fast-paced world of juggling careers, partners, children and extended family, only a fortunate few are able to devote attention to a passion or pastime. In certain, often unforeseen, circumstances, such as retrenchment, divorce, or death of a spouse, a hobby can evolve into a fully-fledged business. But, having a creative idea for a business is not enough. Considerations such as the venture’s legal nature, taxation requirements and the impact the business will have on a personal estate should be taken into account when a hobby becomes a business.