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CREDIT REGULATOR PHYSICALLY REMOVES UNLAWFUL ADVERTS IN MIDRAND
The National Credit Regulator (NCR) recently joined forces with the City of Joburg and the Johannesburg Metro Police Department to physically remove unlawful adverts in and around Midrand that were placed on lampposts and traffic signs.
The initiative is in line with the NCR’s “misleading advertising” campaign, which is aimed at educating the public about misleading advertising practices.
The National Credit Act is quite clear on the required content for advertisements.
Jacqueline Peters, manager of investigations and enforcement at the NCR, says certain words and phrases are prohibited in credit adverts.
Any of these statements and phrases, or any wording that has substantially the same meaning, may not form part of any advertisement or direct solicitation for credit:
- No credit checks required;
- Blacklisted consumers welcome; and
- Free credit.
“Despite these clear regulations, we still find a substantial number of these unlawful adverts of this kind, even in the mainstream media. The NCR is engaging in a concerted effort to eliminate these unlawful adverts,”
she says.
Peters notes that the regulations also apply to unlawful adverts in the mainstream media.
FNB LAUNCHES FIVE NEW SMART BETA UNIT TRUSTS
FNB is expanding its investment offering by launching five new unit trusts called the FNB Income Fund, FNB Stable Fund, FNB Moderate Fund, FNB Growth Fund and the FNB Growth Plus Fund – collectively known as the Horizon Series.
The more conservative FNB Income Fund has a time frame of one to two years – the allocation is predominantly cash and bonds, with much less equity.
The Growth and the Growth Plus offerings are longer term, from seven years and up – with more offshore, equity and property exposure.
Pieter du Toit, CEO of FNB investments, says that the funds use a combination of passive, active and multimanagement strategies to achieve the best outcome per time horizon.
“Using passive components with the added optimisation of smart beta allows us to provide excellent returns at a lower price and at the same time utilise all the major asset classes like property, cash and bonds to create much lower volatility levels.”
