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Reports

Regulatory Exams – how to prepare

Are you, as a financial advisor prepping for your RE exam, feeling intimidated by the changes introduced on 1 April 2018? The updated version of the regulatory examinations, based on the new Qualifying Criteria became effective from 3 April 2018. It is therefore very important for exam candidates to ensure that they use the updated preparation material that is […]

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Compliance

Complex F & P Competency Requirements

The natural tendency is to approach these obligations in the same manner as we did in the past – tick the box, close the file and carry on regardless. BIG MISTAKE. Like the long and winding road, it starts off in a general direction, only to get more and more specific as we proceed on […]

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technology_compliance

Technology eases Compliance Burden

Schalk Malan, CEO of BrightRock, recently shared five of the major developments that are set to change the insurance industry as we know it. According to Schalk the rise of blockchain, personalised/precision medicine, the continuing rise of big data, multi-channel engagement and the Internet of Things (IoT) are technological advances that the industry will have […]

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magnifying-glass

Regulatory Focus on FICA

The Financial Sector Conduct Authority (FSCA) has just published a general communication to Accountable Institutions (AIs) on its supervisory approach to implementation of the Amendments to the Financial Intelligence Centre Act, 2001 (FICA). This publication confirms the FSCA’s commitment to assist Accountable Institutions with implementation of the required systems, procedures and controls envisaged in the […]

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moonstone-RDR-Update

Regulatory Exam Material Update

The following message currently appears on the Inseta Website: Regulatory Exams Learning Material The BANKSETA is currently revising the RE Learning Materials that INSETA developed in 2014. The revised RE Learning Materials will be made available on the websites of both the INSETA and BANKSETA during the second week on May 2018. To access the old […]

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FSB-Building

Supervision Department Feedback and Focus

At the March 2018 FSB FAIS Conference, Ms Felicity Mabaso reported back on the Supervision Department’s activities in 2017 and 2018, and provided insights into its plans for 2018/2019. FSB Theme Visits: 2017/2018 One of the three main focus areas was small FSPs without a compliance officer. The visits were more of an educational Intervention, […]

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ombud1

High Court sets aside Validation of Gross Income methods

On 16 March 2018, the High Court in Cape Town provided its favourable ruling on the matter brought by the retailers, Truworths Limited, Foschini Group Limited and Mr Price Group Limited (the “Applicants”) against the Minister of Trade and Industry and the National Credit Regulator (the “Respondents”) in which the Applicants requested the court to […]

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liability-insurance

Long-term Insurance Class of business Training

In terms of Board Notice 194 of 2017, class of business (CoB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. Moonstone Business School of Excellence (MBSE) is a duly accredited institution and will provide training in all nine CoB modules stipulated in the Act. What will the Long-term […]

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