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 […]
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 […]
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 […]
A recent determination by the FAIS Ombud ruled that the broker be held accountable for the loss incurred by the client, following a mistake by the product provider which the broker failed to […]
The Retail Distribution Review will have a huge impact on the way business is conducted in all sectors of the financial services industry. We expect two reactions to the proposals: those who dig […]
The Retail Distribution Review expresses a popular view held by long-suffering financial advisors: “The current regulatory framework gives rise to imbalances in the responsibility of product suppliers and intermediaries for fair customer outcomes, […]
The information below is a brief synopsis of the proposals contained in the RDR proposals in order to better understand the article below. A comprehensive outline of the various roles is contained in […]
Applications for funding assistance from Inseta close this Wednesday, 26 November 2014. Interested parties requiring more information or assistance must urgently contact Albert Marais or Ronel Nell at Moonstone 021 883 8000. 1. Skills […]
In the good old days, the Pete Seeger song “Turn, turn, turn” was banned from being aired on the radio because it contained phrases from the Bible. Many honest advisors have, for a […]
The required draft Notice and Regulations to allow the introduction of tax free savings accounts from 1 March 2015 was published by the National Treasury on 14 November 2014. The closing date for responses is 3 December 2014. The […]
The FAIS Ombud’s annual report contains a list of trends picked up during the course of the year. The golden thread which runs through all of these, concerns insufficient disclosure across all sectors […]
The FSB proposes to implement the RDR proposals in three broad phases: Phase 1: Changes to be effected within the existing regulatory framework, using existing subordinate legislative and administrative powers. These changes will […]
After attending the FSB’s seminar on Monday, I was actually at a loss as to where to start with conveying the contents of the Retail Distribution Review proposals. We will cover the proposals […]
Under the heading “Scope Limitations”, the discussion document on the retail distribution review states: Where distribution of medical schemes is concerned, certain aspects of the distribution model are regulated by FAIS, while the […]
After the FSB announced the indefinite postponement of the Level 2 Regulatory Examinations and with it the adherence to Continuous Professional Development, a large portion of the industry is relieved that they “don’t have […]
Last week, we discussed the first two specific findings on the effectiveness of complaints handling systems and the need for root cause analysis and corrective action stemming from this. Today, we share details […]
As we pointed out last week, PoPI is yet another brick in the wall being built to safeguard the privacy of the public. Today we look at some important definitions. Purpose of POPI […]
