Client needs and circumstances
FAIS Ombud Settlement – Always take clients’ needs and circumstances into account Furnishing financial advice means adhering to a set of legislative requirements as well as keeping to certain principles. One of the […]
Best Practice
Debarment – what does the characteristic of honesty and integrity imply?
In the November 8 edition of the Moonstone Monitor, the first ground for the request to the Tribunal for a reconsideration of the decision to debar Ms X was discussed. That article dealt with […]
Key Individual Workshops – back by popular demand
Due to high demand for the KI workshops in October 2018, Moonstone will run more workshops in the next few months. More about the workshop The new Fit and Proper requirements published in December 2017 […]
Dormant retirement funds – Unpaid Benefits Campaign takes action
Alexander Forbes is one of the administrators of the dormant retirement funds that were cancelled by the Financial Services Board (now the Financial Sector Conduct Authority, or FSCA), between January 2007 and December 2013. The […]
South African Crime Stats – opportunity for consumers and insurance industry
The release of the South African crime stats lead to a lot of talk in the media, on social media as well as in public conversations. With the murder rate that continues to […]
The rise of drone usage in the insurance industry
An article on this topic was recently published on the FIA website. The use of drones is rapidly growing in popularity. Individuals, companies and even governments have come to realise that drones have […]
Protection of data
Protection of data – become familiar with the requirements On May 25, 2018, the European Union’s General Data Protection Regulation (GDPR) came into force. The GDPR standardises data protection law across all 28 […]
Good standing
Board Notice 194 of 2017 which contains the latest Fit and Proper requirements introduced a new concept called “Good standing”. This does not refer to your ability to consume copious amounts of alcohol […]
Financial Services Tribunal Rules – When and how to apply
According to the Financial Tribunal rules issued by the chairperson recently “the right to apply to the Tribunal for a reconsideration of a decision by a decision-maker is derived from section 230 of the […]
Low income earners spending more
Old Mutual Savings and Investment Monitor – Low income earners spending more Every year the Old Mutual Savings & Investment Monitor tracks the shifts in the financial attitudes and behaviour of South Africa’s […]
Class of Business – make it part of your training schedule
With the Class of Business requirements that commenced on 1 August 2018 it is important to note that CoB can also be added to your training schedule if you: Wish to remain up to date […]
Moonstone Investment Indicators also approved for CPD hours
The new Fit and Proper Determination requires that certain individuals are required to obtain a specified number of Continuous Professional Development (CPD) hours between 1 June 2018 and 31 May 2019. The FPI has now also recognised […]
RE Deadline 30 June 2018
The table below indicates who has to successfully complete the Regulatory Exams by 30 June 2018. Representatives’ DOFA RE 5 Deadline 30/06/2015 – 31/12/2015 30/06/2018 01/01/2016 – 29/06/2016 30/06/2018 30/06/2016 – 31/12/2016 30/06/2019 DOFA refers […]
FSCA RE Study Material update June 2018
The May edition of the FSCA FAIS Newsletter contains a summary of events since the publication of Board Notice 194 of 2017 (the “Fit and Proper” Board Notice) which came into effect on […]
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 […]
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 […]
How will the VAT increase impact short term insurance policies?
The recent announcement of the change in the Value Added Tax rate from 14% to 15% effective 1 April 2018 did not leave much time for companies across different industries to amend their systems to […]
