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 […]
Best Practice
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 […]
Study Material Update
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 […]
To fee, or not to fee?
The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]
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) […]
Fit and Proper Competence Register
Those who love record keeping will be elated by the new requirements contained in Board Notice 194 of 2017. “A FSP must establish, maintain and update on a regular basis a competence register in […]
Training requirements under the new Fit and Proper Determination
The Latest Determination of Fit and Proper requirements refers to three types of training under the competence requirements. A look at the definitions will help readers distinguish more clearly what impacts on them, […]
Professional Principal Executive Officer Qualification
Registration is now open for candidates who want to enrol for the first intake on 26 February 2018. The Professional Principal Executive Officer Qualification is a much-needed stimulus for the professionalisation of the […]
