Author Archive | Paul Kruger


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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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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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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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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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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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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Directive on Prohibition of Corruption in Pension Schemes

Directive PF No 8, issued on 8 March 2018, provides guidelines on how the Registrar intends to combat and prevent corruption and corrupt activities. Titled “Prohibition on the acceptance of gratification”, the document prescribes requirements affecting principal officers, deputy principal officers, board members, employees of retirement funds, valuators, auditors, administrators, employees of administrators or other officers or […]

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FSB Regulatory Exam update – What will be significantly impacted by Board Notice 194

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination ON or AFTER Tuesday, 3 April 2018 are obliged to write the new version of the regulatory examination, which will contain the updated questions. […]

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