The code is not yet finalised but this is a good summary of the whole scorecard. If you want a downloadable version take a look here The Financial Services Sector Code (gazette no 35914) The FSC was gazetted under section 9(1) of the B-BBEE Act on the 26th of November, 2012 and is binding on […]
The Financial Services Sector Code (gazette no 35914) – summarised scorecard Read More »
Here is a breakdown of the various elements that make up the gazetted FSC and their scores. Whilst there are strong similarities to the generic codes the FSC is still very financial sector orientated. As such there are odd little references that only those in the industry would adequately understand. As a general rule the
Financial Services Code (FSC) Scorecard Read More »
In case you were wondering when we would see this thing being gazetted – here it is from an incredibly reliable source. It's still not up on the DTI's website. By the way, in case you read the shockingly inaccurate report in the pro-government New Age last week . This document is not 10 years
Official FSC now available Read More »
If you don't believe me then take a look at this notice. Thank you for sending it to me Mr O'Neil. I haven't got the final gazetted codes but I've got a wide number of drafts. It is speculated that Rob has pushed this one out to take heat off him for the new
FSC has been gazetted!!!!! Read More »
A disgusting title – it comes from the Afrikaans saying "die drol in die drinkwater". The drol is matter floating around in the drinking water which renders the drinking water undrinkable. The drol in this case is Rob and the drinkwater is the FSC. Fin24 ran an article this morning on the status of the
Die drol en die banke Read More »
There's been a bit of press about this, mostly about the fact that Tokyo wants to sell out via Mvelaphanda Holdings' 40% interest in Batho Bonke. Batho Bonke owns about 4% of ABSA. This is a joyous thing, a mitzvah, a blessing, a wonderful occurrence and other superlatives. Besides raising cash for Tokyo's campaign to
Why we should be overjoyed that ABSA may lose some of its BEE shareholding Read More »
(Before I start, I have prepared a comprehensive presentation on the draft FSC that I am more than happy to present to any concerned person). The issue of once empowered, always empowered was always going to be a deal breaker under the FSC. The appetite to go off and re-negotiate another deal after billions in
FSC Continuing Consequences (or once empowered etc) Read More »
Almost like a fireside chat – except we don't get to hear words of wisdom being spoken, we can read them at our own leisure (however in the case of the AgriBEE charter – you only have 60 days in which to do so.) Rob signed this in November 2011, but published last week. Denel's
From Rob Davies’ desk with a cursory glance at the FSC Read More »
On the 2nd of March too. It doesn't appear to be on the DTI's website or on gov.za. You can download it here. Comments may be submitted until the 1st of May 2012.
Phase II of the FSC gazetted Read More »
Is it on, is it off? I spoke to someone who has been involved in the Financial Sector Charter negotiations last week and they told me it was still on. I was told that the once empowered, always empowered details had been finalised and that signatures were imminent. My most excellent friend Leila told me
FSC still struggling – but not with ED Read More »
