Secondary

Reports

Conduct of Business Reports

The FSB intends replacing the current FSB compliance reports with Conduct of Business Reports (COBR) and has called for industry input on the proposed document. The content and format of the proposed COBR differs significantly from the previous reports as a result of the changing regulatory landscape and the focus on outcomes based regulation and […]

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Implementation

Implementing RDR Phase 1

True to form, a huge amount of proposed legislative changes were published towards the end of last year. Formal consultation on the draft regulatory instruments to be used to give effect to Phase 1 has commenced, and other instruments were published for comment in December 2016, with more to follow early in 2017. Amendments to the […]

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Registration

Technology and “Obsessive-Compulsive Regulatory Disorder”

In an article titled, Rebuilding trust through digital automation, Australian Adviser Intelligence’s Jacqui Henderson writes: Trust in the financial services industry has been low since the global financial crisis of 2008, but innovative new technologies aimed at regulation and compliance could help restore consumer confidence. Damage control does not come cheap, just ask Samsung Electronics […]

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moonstone-RDR-Update

Short term Remuneration Update

The RDR status review, published in December 2016, contained the following information concerning short term remuneration, and specifically regarding additional fees currently charged under section 8(5) of the Short Term Insurance Act. (f) Proposal UU (short-term): Remuneration for selling and servicing short-term insurance policies The current section 8(5) of the STIA11, which provides for an additional […]

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legislation

Pending Legislative Changes and the Regulatory Exams

Documents released in December 2016 reveal that the FSB intends changing no fewer than seven (7) pieces of legislation in the near future, some possibly coming into effect as early as May 2017. Those who have a RE deadline of 30 June 2017 need to take this into account when planning when to write. Legislative changes impact on the […]

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UK-RE-Bulk-exams

Long-term Validity of RE Results

A reader recently enquired about the validity of the regulatory exams in view of all the pending new legislation. “Will my RE1 and RE5 certificates still be valid when the new Twin Peaks legislation comes into effect?” The new laws will not be implemented overnight. It will be phased in over time. As this happens, […]

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industry experts

Suitebox Assessment by Industry Experts

SuiteBox provides video business meeting software of specific benefit to modern day financial advisers. Apart from providing significant cost, productivity and client engagement improvements, it assists in simplifying record keeping. Inaccurate or insufficient documentary proof is the one common denominator in all findings against financial advisers. Moonstone became financially involved in Suitebox, as we believe […]

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