Proposed amendments to Long-term Insurance Act stir debate and industry adaptation
A Sanlam insurance law expert discusses the implications of the proposed Long-term Insurance Amendment Bill for insurance companies and the public.
Compliance and Legislation
Tribunal upholds decision to debar F&I marketer for falsifying client’s signature
The rep said she corrected the errors herself to avoid inconveniencing the customer and embarrassing the company, not to commit fraud.
Two-pot legislation speed bump – the Amendment Bill must be amended to include public sector funds
The Pension Bill will prohibit members from making a withdrawal from the savings component if the withdrawal results in insufficient funds remaining to settle a court order.
No-cost webinar on managing ill health and sick leave in the workplace
Moonstone Compliance will equip you with the knowledge and skills to identify and approach individuals who are incapacitated.
Budget 2024: No inflation-related adjustments to the tax brackets?
Not providing tax relief will be a relatively easy way for a cash-strapped National Treasury to collect revenue.
FIC urges delinquent estate agents, lawyers to comply to help SA exit the grey list
Non-submission of the RCR required by Directive 6 will prevent the Financial Intelligence Centre from demonstrating compliance with the FATF’s action plan.
Minister of Finance publishes Pension Funds Amendment Bill
The amendments are necessary for private sector retirement funds to give effect to the two-pot retirement system.
The downside to a side hustle
It is the sole prerogative of an employer to regulate when moonlighting may be permitted, and if so, on what terms.
Tribunal sets aside WesBank’s debarment of financial and insurance marketer
The Financial Services Tribunal says the dispute is ‘one of the many cases where employers use labour disputes to debar FSP representatives’.
Evidence of material bias in Discovery Connect debarment, says Tribunal
The sales agent was accused of manipulating quotes to reduce clients’ motor vehicle insurance premiums.
Policyholder waiting for funeral policy payout after three years
The FAIS Ombud issues a determination after the FSP fails to follow through on its undertaking to settle the claim.
First wave of crypto asset service provider licences nears approval
The FSCA also confirms that one FSP licence has been provisionally suspended as part of its investigation into advisers who may have referred clients to BHI Trust.
What you should know about the FAIS competence requirements
The first in a series of articles that explains the competence requirements for people who want to enter the financial services industry.
Cap on healthcare broker fees increases by 5%
The new limit applies to contributions received from 1 January.
Proposed amendment Bill aims to end funeral cover over-insurance
A review of the entire structure of the funeral class would be a better way to prevent over-selling, says Moonstone Compliance’s Paull Lawrence.
Understand the nuances of anti-avoidance rules, or get a binding ruling
Sars binding private ruling highlights the importance of regularly reviewing the nature of a preference share or an equity instrument.
Directory of the FIC’s compliance communications issued in 2023
The directory contains a brief description of each document, a link to the document and, where available, links to other communication related to it.
