Latest news with #FinancialServices
IOL News
13 hours ago
- Business
- IOL News
Financial institutions urged to vet CPD providers amid credential concerns
The Financial Sector Conduct Authority (FSCA) has issued a nationwide warning to financial institutions Image: File The Financial Sector Conduct Authority (FSCA) has issued a nationwide warning to financial institutions, urging them to carefully verify the credentials of Continuous Professional Development (CPD) providers before engaging their services. This warning comes after the financial sector watchdog "became aware that an entity known as LearnOn (Pty) Ltd (Learn On) has been offering continuous professional development (CPD) services to Financial Services Providers (FSP) without the necessary authorisation". "The services offered include the provision of assistance to FSPs in meeting their CPD competency requirements as set out in the Determination of Fit and Proper Requirements for Financial Services Providers, 2017 (Board Notice 194 of 2017) issued under the Financial Advisory and Intermediary Services Act, No. 37 of 2002," FSCA said. CPD is a required rule for financial services providers (FSPs). It helps make sure that key staff and representatives keep their knowledge and skills up to date so they can do their jobs well. Meeting the minimum CPD requirements is essential to stay compliant with the law. "It appears that LearnOn has issued CPD certificates bearing the logo of the Financial Planning Institute of South Africa (FPI) without authorisation and has used FPI reference numbers that are either invalid or linked to other approved CPD providers. Attempts to reach out to Learn On regarding these concerns via email and telephone have been unsuccessful," the financial sector watchdog said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The financial watchdog added that it was not commenting on LearnOn's business practices or the quality of its training programmes. "However, the FSCA deemed it important to bring this matter to the attention of financial institutions and urge them to verify the accreditation of CPD providers purporting to assist with the fulfilment of competency requirements under the FAIS Act with the relevant professional bodies before entering into any agreements in this regard". Failure to verify CPD providers and programmes may result in financial institutions not meeting their CPD. IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
Time of India
19 hours ago
- Business
- Time of India
Why is the stock market rising today? Sensex gains 800 pts, Nifty tops 25,000; 4 key drivers of the rally
Nifty Bank, Financial Services, Auto, and Metal sectors led the market rally, emerging as top performers. In the broader market, the Nifty Midcap and Smallcap indices rebounded, climbing nearly 0.8% following a steep drop on Thursday. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 1. RBI Eases Norms for Project Financing 2) Fed Signals Two Rate Cuts in 2025 3. Weakening Dollar Tired of too many ads? Remove Ads 4. Return of FII Buying Indian benchmark indices Sensex and Nifty rebounded strongly on Friday, snapping a three-day losing streak, led by gains in financials after the Reserve Bank of India ( RBI ) relaxed provisioning norms for project financing. However, escalating tensions in the Middle East could limit further BSE Sensex surged up to 800 points to break above the 82,100 mark, while the Nifty50 reclaimed the 25,000 Bank, Financial Services, Auto, and Metal were among the top-performing sectors, leading the rally. In the broader market, the Nifty Midcap and Smallcap indices also rose nearly 0.8% after Thursday's sharp the market capitalisation of all listed companies on BSE surged by Rs 3.57 lakh crore to Rs 446.37 lakh RBI on Thursday released its final guidelines for project financing, replacing multiple legacy circulars and aligning norms across banks, NBFCs, and co-operative banks."In comparison with the May-2024 draft proposal of 5% standard assets provisioning for under-construction projects, the 1.0%/1.25% provisioning for Infra/CRE projects under the final regulations gives a much-needed breather to project financiers, including REC and PFC," Emkay Global 's analyst Avinash Singh provisioning norms will reduce funding costs for infrastructure and real estate projects, benefiting US Federal Reserve kept interest rates unchanged but maintained its projection of two rate cuts in 2025. While inflation expectations have risen, the central bank's signal of easing monetary policy in the medium term was viewed positively by global expectations of slower GDP growth (1.4%) and higher inflation (3%) in the US next year, the indication of rate cuts offered some relief to equity US dollar index dropped to 98.57, extending a 0.34% decline. A weaker dollar generally boosts emerging market equities like India by attracting foreign capital and supporting the bond markets, the US 10-year Treasury yield was steady at 4.389%, while the 2-year yield slipped by 2 basis points to 3.925%.Foreign institutional investors (FIIs) have turned net buyers, purchasing equities worth Rs 1,824 crore over the last two domestic institutional investors (DIIs) continued their strong buying streak for the 12th consecutive day, investing Rs 2,566 crore—providing additional support to the market.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News24
a day ago
- Business
- News24
Standard Bank named Africa's most admired financial services brand
Standard Bank, Africa's biggest bank by assets, has been named as Africa's Most Admired Financial Services Brand for 2025. The accolade was conferred as part of Brand Africa's 15th annual Africa's Best Brands report, based on an independent study conducted across 31 countries throughout the continent. The Africa Best Brands study is described as the most comprehensive, research-based ranking of Africa's most admired brands. Released annually during Africa Month (May), the survey is independently conducted by GeoPoll and Kantar, with strategic insights and rankings led by Kantar and Brand Leadership, Africa's leading brand advisory firm, and supported by regional experts across the continent. 'We are delighted to receive an accolade that is distinguished by being authentically African, data-driven and consumer-led. This acknowledgement reflects the trust that we have built and our commitment to providing consistently excellent service to our clients across the continent,' says Sim Tshabalala, Chief Executive, Standard Bank Group. 'Africa is our home, and we strive to drive her growth every day. This award reaffirms our Africa focus by being rooted in research that relays the continent's voice and vision. As the most comprehensive barometer of consumer brand preferences, this award reflects our uncompromising commitment to our diverse client base and driving value for all stakeholders. We are grateful to our employees who have made this achievement possible,' concludes Margaret Nienaber, Chief Operating Officer, Standard Bank Group. Earlier in the year, Standard Bank was named Africa and South Africa's Most Valuable Banking Brand by Brand Finance. As Africa's biggest bank by assets, Standard Bank has a brand presence across 20 African countries.
CNA
2 days ago
- Business
- CNA
CNA938 Rewind - Meta, OpenAI, Tesla: Where their AI investments are
CNA938 Rewind The artificial intelligence race could be reaching a boiling point as the world's biggest tech firms burn through cash to develop the biggest and best tools as they come under pressure from investors. For more, Andrea Heng and Susan Ng speak with Antony Ruddenklau, Head of Financial Services, Global Head of Fintech & Innovation.
Yahoo
3 days ago
- Business
- Yahoo
Lennar Corp (LEN) Q2 2025 Earnings Call Highlights: Navigating Market Challenges with Strategic ...
Revenue: Not explicitly mentioned in the transcript. Gross Margin: 18%, excluding purchase accounting. Net Margin: 9.2%, excluding purchase accounting. Average Sales Price: $389,000. Sales Incentives: 13.3% of sales. SG&A: 8.8% of revenue. Homes Delivered: Over 20,000 homes. Homes Sold: 22,601 homes. Community Count: 1,617 communities. Financial Services Operating Earnings: $157 million. Cash and Total Liquidity: $1.2 billion in cash and $5.4 billion in total liquidity. Debt to Total Capital: 11%. Book Value Per Share: Approximately $87. Q3 Guidance - Deliveries: 22,000 to 23,000 homes. Q3 Guidance - Average Sales Price: $380,000 to $385,000. Q3 Guidance - Gross Margin: Approximately 18%. Q3 Guidance - SG&A: 8% to 8.2%. Q3 Guidance - EPS: Approximately $2 to $2.20 per share. Warning! GuruFocus has detected 4 Warning Signs with TEN. Release Date: June 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lennar Corp (NYSE:LEN) maintained a strong focus on driving volume and growth, which helped them manage production and sales pace effectively. The company has been successful in reducing construction costs, with a 3.5% year-over-year decrease, reaching the lowest direct construction costs since Q3 of 2021. Lennar Corp (NYSE:LEN) is investing heavily in technology to enhance productivity and efficiency, which is expected to bring significant long-term returns. The company has improved its inventory turn to 1.8 times, a 13% improvement from the previous year, indicating better capital and production efficiencies. Lennar Corp (NYSE:LEN) has a strong balance sheet with $1.2 billion in cash and $5.4 billion in total liquidity, providing financial flexibility for future growth. The housing market remains challenging with higher interest rates and declining consumer confidence impacting demand. Lennar Corp (NYSE:LEN) experienced a reduction in gross margin to 18% due to increased sales incentives and a lower average sales price. The company is facing pressures from higher land and development costs, which are impacting overall profitability. SG&A expenses have increased due to investments in technology and lower revenue leverage, affecting overall margins. The market conditions have led to a softening in sales pace, particularly in markets like Seattle, Portland, and Northern California, where higher home prices and macroeconomic factors are impacting demand. Q: Have you seen any dramatic shifts year-to-date in terms of credit quality or the overall ability for consumers to purchase homes? A: Stuart Miller, Executive Chairman and Co-CEO, noted that the market has softened, with higher interest rates and waning consumer confidence. Bruce Gross, CEO of Lennar Financial Services, added that credit scores have been consistent, but there is a shift towards more government loans, which help with qualification ratios. Student loans have not significantly impacted credit scores yet. Q: Are there any markets where incentives don't affect demand, and you're struggling to achieve a targeted sales pace? A: Stuart Miller stated that market elasticity varies weekly, with some markets showing challenges. Jonathan Jaffe, President and Co-CEO, added that while some markets are more challenging, adjustments are made community-specific, and no market consistently behaves differently. Q: Could you discuss your view on long-term normalized operating margins and any changes in volume expectations? A: Stuart Miller confirmed that Lennar expects to hit the lower end of their previously stated range of 86,000 to 88,000 homes for the year. The focus remains on driving volume and adjusting pricing to meet market affordability, with no specific breaking point identified. Q: What margins and returns are you targeting when putting capital to work today? A: Stuart Miller explained that while working through older land assets, Lennar aims for a 20% gross margin on new acquisitions, with expectations of recalibrating costs. Jonathan Jaffe emphasized the importance of short-term land assets and the potential for improved margins over time. Q: Can you provide more details on the SG&A increase and its drivers? A: Stuart Miller explained that the SG&A increase is due to lower average sales prices, investments in future efficiencies, and increased marketing and selling expenses. The investment in technology and overhead is expected to yield attractive returns in the future. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
