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Financial Sector Regulation from Budget Speech

The scramble to be first with news of the budget reminds me of the old bull and his aspiring successor who stood on a hill observing the herd of cows grazing below. Youngster: “Old bull, let’s run down there and cover a cow each.” Old bull: “Youngster, let’s saunter down there slowly and cover the […]

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The Nine Classes of Business

We received a substantial number of enquiries about this topic in response to articles published last week. It is not only important to those who are required to do Class of Business (CoB) and Product Specific training – those required to perform CPD activities also need it to ascertain their obligations in this regard. Board […]

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Email signatures under the looking glass

How does a standard electronic signature differ from the Advanced Electronic version? According to Neil Summers, Head of Sales at Moonstone, it is important to understand the legality of e-signing, especially with all the e-meeting technology offerings currently available, some with transactional capability and digital signing functionality. He recently shared his thoughts on the Standard […]

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Proposals on loyalty benefits or bonuses

Cashback incentives are very often the topic of enquiries from readers who feel that they are at a disadvantage to mostly direct marketing companies who offer partial premium refunds to secure business. The latest proposals regarding changes to the General Code of Conduct contains the following guidelines for providers who want to continue offering such […]

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Transitional arrangements for Reps under supervision

Board Notice 194 (Determination of Fit and Proper Requirements) stipulates that a “…FSP and representative must, prior to the rendering of any financial service in respect of a particular financial product, complete the class of business training; and product specific training, relevant to that financial product for which they are authorised or appointed…” What about […]

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The Essentials of CPD

If we had to draw up a hit parade of enquiries received from readers, debarments would be top of the pops, closely followed by CPD – continuous professional development. This is not surprising as some naughty training service providers used this quite extensively to market their services despite the fact that, for the majority of […]

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Expand your reach via Facebook

Whether you like it or not, social media and technology have changed the way that we do business. It has changed the way that we interact, not only with our friends, but also with our clients. A recent US research study has shown that 81% of the financial advisors surveyed are using social media in […]

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FSB Regulatory Exam Update

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular 1/2018 confirms a number of matters we discussed since the publication of the new Fit and Proper Determination, which comes into effect […]

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