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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RDR Status update November 2016 Part 1

The new “Level 2” REs and CPD Background Almost exactly six years ago, give or take a day or five, Moonstone presented the very first Level 1 Regulatory Examinations. At that time, it was envisaged that there would be three “levels” of ascertaining a person’s ability to conduct him or herself in a professional manner. The […]

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New Acts Affect Sectional Titles Schemes

Miller’s Attorneys of George recently published information about new legislation which will affect Trustees and Executive committee members of Housing Development Schemes (Community Schemes). Two new acts and regulations came into operation on 7 October 2016, resulting in important changes to community schemes management. Community Schemes Ombud Service Act 9 of 2011 (CSOSA) A community scheme means […]

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Quo Vadis, Insurance Intermediaries?

When American insurance guru John F. Carroll started his successful InsuranceSplash in 2009, it was informed by direct observations which led to some profound conclusions: It’s getting harder and harder to successfully market an insurance agency every day; Insurance companies are far more concerned about their bottom line than those of agents; and Agents are […]

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Board dismisses Discovery Health appeal

“On 31 October 2016, the Council for Medical Schemes Appeal Board dismissed the appeal lodged by the Discovery Health Medical Scheme (DHMS) regarding the issue of whether it is lawful for the rules of a medical scheme to make provision for the scheme to decline an application for reinstatement of membership for a certain period of time, […]

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RDR Status update November 2016 Part 1

A new discussion document on RDR is due for release before the end of December for industry input. At the Insurance Regulatory Seminar in Cape Town on 17 November 2016, the following information, which will form part of this document, was shared. Two-tier adviser categorisation There will be two main categories of financial adviser, with the originally […]

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Twin Peaks Progress Report

Jonathan Dixon provided more information on the Financial Sector Regulation Bill which is currently in the final stages of Parliamentary consideration. The Bill provides for staggered implementation. The Prudential Authority will be established in an existing entity, the SA Reserve Bank. The Financial Sector Conduct Authority, which will replace the FSB, will be a new […]

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Comparing Emerging Regulations

A bosom buddy of mine, now deceased, when asked what he would do differently if he could live his life over, said: “I would make the same mistakes, just start sooner.” I have often wondered how the South African regulatory authorities would respond, given a second bite at the apple. A recent article on an […]

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Appeal Board rules on Ombud RVAF finding

In one of the most important findings by the Appeal Board of the FSB, an appeal against a finding by the FAIS Ombud was upheld. The Ombud’s findings Some of the relevant findings by the Ombud include: The Appellant had rendered advice which was inappropriate; The Appellant was involved in the entire process in respect […]

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Adelaide in Pink & New Coach and Captain

At the time of writing, the Proteas were 165/7 at dinner, after Faf won the toss and elected to bat. Before you say “Oh dear, we are in trouble”, bear in mind the nature of day/night tests which tend not to deliver the high scores we are used to in normal day tests. The first […]

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