Archive for Aug 2009

TERMINAL DECISIONS: LIVING WILLS

If you don’t want to be kept artificially alive, possibly in pain and distress, when your medical condition is hopeless and you are no longer able to make your own wishes known, consider executing what is called a “Living Will”. It isn’t really a “Will” (which is aimed at regulating your estate only once you…

Read More

THE FOREIGN CURRENCY CONVERSION BLUES

When contracting in a foreign currency to be paid locally, specify how the conversion to Rand is to be effected. Per a recent High Court decision, if you want to be paid at a particular rate, such as the selling rate rather than the buying rate, or at the Reserve Bank’s “indicative rate”, or at…

Read More

WHISTLE(BLOWING) WHILE YOU WORK

The Protected Disclosures Act (more popularly referred to as the “Whistleblower’s Act”) provides procedures for employees to disclose unlawful or irregular conduct by their employers or fellow employees (in both the public and private sectors), without fear of reprisal. Any employer action in retaliation for a protected disclosure is deemed to be unfair, entitling the…

Read More

FIDENTIA, THE BROKER, AND THE CLIENTS’ CLAIMS

Financial services providers risk liability for any poor investment advice they give, and need to comply strictly with their statutory Code of Conduct. A recent determination by the FAIS Ombud illustrates in particular the danger of not keeping the required “record of advice” given to clients. A broker who advised his clients to invest monies…

Read More