Aussie advice shift mirroring UK, South Africa
Aussie advice shift mirroring UK, South Africa
Regulatory changes in the Australian advice market has echoed those of the UK and South African landscapes, with advisers across all countries needing to adapt and work hard to futureproof their businesses.
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Allan Gray representatives from Australia, the UK and South Africa addressed the shifts in a December webinar, agreeing the changes in advice had been catapulted to the fore by the coronavirus pandemic.
JD de Lange, chief operating officer of Allan Gray, commented that in a recent survey from Wealth Insights Australia, one-third of advisers reported that they would leave the industry within the next year or two.
Deur Yaseen Gaffar 25 Januarie 2021 06:19 Members of MTI at the opening of the office in Strand last year. Pictured are Elton Gordon, TJ Kruger, Liz Lassen, Monique Lassen, Gerald Lassen, Mandie van Heerden, Gert Kotzee and Jeâzelle Kruger.Photo: Yaseen Gaffar
Dozens of local residents in the Helderberg fear the worst following revelations that Johann Steynberg, CEO of the alleged online Bitcoin scam platform Mirror Trading International (MTI), has skipped the country.
The MTI satellite office in Main Road, Strand, is closed following a jubilant official opening last year. But some members remain adamant that Steynberg will again appear and that âthe truth will be revealedâ. They are ambitiously hopeful that their money remains safe and will be returned.
Redefine, the second largest South African real-estate investment trust on the JSE, has announced that it would not be paying a dividend for its 2020 financial year-end. The listed property sector has been decimated by Covid-19, with property asset classes such as office and retail being the hardest hit. Redefine’s peers, Hyprop and Growthpoint, have also had liquidity challenges of their own recently. Hyprop, after consultation with the JSE, were required to pay a cash dividend after the exchange declined the company’s proposal to pay shareholders dividends on credit. Growthpoint raised R4.3bn through an accelerated book-build at the beginning of November in order to pay down debt and clean up the balance sheet. Debt-laden Rebosis announced that they would also not be paying a dividend due to the financial position of the company. This has become a recurring theme in the industry. – Justin Rowe-Roberts
âââ CATHY DLODLO 11:51 Tue, 29 Dec 2020
The controversial cryptocurrency trading company Mirror Trading International (MTI) has been placed under provisional liquidation.
This follows after an urgent application for the liquidation was heard in court last week.
The application was filed by an investor who was unable to withdraw funds. The cryptocurrency company made media headlines earlier when some of their data was leaked and indicated that they have about R2 billion in investments from clients.
The court further issued a rule
nisi â calling upon all persons interested to show cause if any on 1 March 2021 at 10h00 or as soon thereafter as the application may be heard, why a final order should not be granted to place the respondent (MTI) under final liquidation and that the cost of the application shall be costs in the liquidation.
âââ CATHY DLODLO 11:51 Tue, 29 Dec 2020
The controversial cryptocurrency trading company Mirror Trading International (MTI) has been placed under provisional liquidation.
This follows after an urgent application for the liquidation was heard in court last week.
The application was filed by an investor who was unable to withdraw funds. The cryptocurrency company made media headlines earlier when some of their data was leaked and indicated that they have about R2 billion in investments from clients.
The court further issued a rule
nisi â calling upon all persons interested to show cause if any on 1 March 2021 at 10h00 or as soon thereafter as the application may be heard, why a final order should not be granted to place the respondent (MTI) under final liquidation and that the cost of the application shall be costs in the liquidation.