Daily RE Questions
1 What exam must I write? Both the RE5 and RE1 are Level One exams. RE5 is for Representatives and RE1 for Key Individuals. The RE3 exam is for licence category II candidates. […]
Author: Paul Kruger
Reinstatement of Debarred Representatives
We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]
Improving Internal Complaints Mechanisms
The “Draft Market Conduct Framework”, published in December, is certainly a goldmine in terms of trying to gauge what the future holds for the industry. The information published below is extracted from it. […]
Moonstone RDR Workshops
The proposals contained in the Retail Distribution Review discussion paper envisages some of the most drastic changes to the retail financial services industry since the implementation of FAIS. The 55 proposals contained therein […]
Update from Cambist
Hanna Barry reports in Moneyweb Today that Cambist published a newsletter to investors in which they refer to an upcoming court case which may prove to be good news for investors who made […]
TCF & Retail Distribution Review Update
A Draft “Market Conduct Framework” was published in December for comment. It contains the latest thinking by the Regulator on a number of key issues. The following is a synopsis of the rationale […]
Disclosure of Material Terms
The importance of making a client aware of material terms and conditions in a policy contract was underlined in a recent FAIS Ombud determination. On 2 March 2013, the complainant’s Hilux was stolen […]
New Framework for Insurers
Legalbrief Today published an article on 7 January setting out details of the Governance and Risk Management Framework for insurers which come into effect on 1 April 2015. “…the purpose of the prescribed framework is to […]
More Effective Regulation Envisaged
National Treasury publishes a revised draft of the Financial Sector Regulation (FSR) Bill for public comment. The revised Bill takes into account comments received on the first draft, published in December 2013, as well […]
2014 Compliance Report Workshop
2014 Compliance Report Workshop FSPs not obliged to appoint a compliance officer need to submit their 2014 Compliance Reports by the end of February 2015. We invite all those affected to pre-book their seats […]
Exemption date Extended
FAIS Notice 36 of 2014, which was published in May last year, exempted FSPs and representatives from complying with the following requirement in the FAIS Act: “A person may not render financial services […]
Demarcation Regulations Update
On 19 December 2014, National Treasury and the Department of Health announced a postponement in the publication of the final Demarcation Regulations (“the Regulations”) till the second quarter of 2015. The final regulations […]
ICC World Cup
The opening match between co-hosts New Zealand and Sri Lanka will be played on 14 February, just over a month from now. South Africa’s first match is against Zimbabwe the following day. Fourteen […]
RDR Workshops
Moonstone RDR Workshops The proposals contained in the Retail Distribution Review discussion paper envisages some of the most drastic changes to the retail financial services industry since the implementation of FAIS. The 55 […]
Tax Deductibility of Income Protection Policy Premiums
The FSB’s Information Letter 4 of 2014 discusses changes to the tax deductibility of income protection policies in view of changes announced in the Taxation Laws Amendment Act which became effective on 12 December 2013. […]
