Finalised Conduct Standard for financial education released
In response to stakeholder concerns over increased costs, the FSCA says the requirements can be scaled to each institution’s size and complexity.
Compliance and Legislation
Revised draft standard for disclosure of short sales open for comment
The new draft introduces a phased approach, initially focusing on positional reporting to overcome challenges identified in earlier consultations and to enhance oversight of short selling.
Amended Conduct Standard for section 14 transfers takes effect
The Authority has withdrawn the temporary exemption for retirement fund transfers, signalling the full implementation of updated regulatory requirements.
FSCA says new digital platform will streamline compliance and regulation
IRS, which is set to go live in 2026, will leverage smart analytics to automate risk assessments and provide a comprehensive view of regulated entities.
Tribunal rules against former Sanlam representative in signature dispute
The Financial Services Tribunal dismisses a reconsideration application by a former representative who claimed a client e-signed documents in person.
The effective use of disclaimer notices and clauses to exclude liability
Recent cases reaffirm that disclaimer notices must be prominently displayed and clearly worded to be enforceable, ensuring that consumers are adequately informed of their rights and risks.
Customer complaints: FSCA tells banks to raise their game
A review finds significant lapses in the banks’ complaint management – from inconsistent categorisation to poor record-keeping and communication.
FIC opens consultation on updated IFTR guidelines
The Financial Intelligence Centre (FIC) has issued published Draft Directive 3A and Draft Public Compliance Communication 50A for public consultation.
VAT hike | Guidance for businesses on supply rules and timing
How the general and specific time-of-supply rules will determine whether transactions fall under the existing 15% VAT rate or the increased rate.
Life insurer debars rep who ‘went off-script’ during sales call
The agent repeatedly deviated from the approved product script. Previous warnings and documented missteps played a key role in the decision.
Debarment set aside as Tribunal distinguishes negligence from dishonesty
The case highlights that debarment is reserved for instances of clear, intentional breaches of integrity, not mere negligence.
New earnings threshold on 1 April – what this means for employees
If you earn above the threshold, certain provisions of three pieces of labour legislation no longer automatically apply.
FIC accepting RMCPs after the 12 March deadline
But institutions that file their RMCPs after the deadline are regarded as non-compliant and may be sanctioned.
Turning regulatory training into an opportunity
Moonstone Business School of Excellence’s regulatory short courses are among MBSE’s most popular offerings for FSPs looking to meet their CPD requirements.
FSP loses bid to halt investigation and lift licence suspension
The FSCA’s decision to investigate Anova Wealth and suspend its licence remains in effect after the Tribunal declined the FSP’s applications for reconsideration.
Crucial deadline for accountable institutions supervised by the FIC
They must submit a copy of their RMCP to the Financial Intelligence Centre by 12 March.
Stay compliant and competitive: join our direct marketing webinar
The latest Guidance Note on Direct Marketing has clarified key rules that could impact your business. Join Moonstone Compliance’s expert-led webinar to ensure your marketing strategy is both effective and lawful.
