Compliance and Legislation – Page 41 – Moonstone Information Refinery

Video interview: New mutual insurer enters the market

The FSCA has published a conduct standard setting out the conditions for retirement funds to invest in derivatives.

About R19 million will be forfeit to the state unless exclusion applications are upheld.

And applications are now open for the second semester.

A ‘high-value goods dealer’ means any business that sells goods with a price tag of R100 000 or more.

The buyer returned the second-hand car to the dealership, which was in a dispute with the person on whose behalf it sold the car.

Some employers have been deducting higher amounts from employees’ salaries while remitting a lower amount to the fund.

The Authority takes regulatory action against JP Markets again.

The offences relate to not recording information about beneficial ownership and service providers that are accountable institutions.

‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’

FSCA wants to step up market surveillance to combat insider trading and price manipulation.

Exemption is the last opportunity to rectify the error, National Treasury says.

The employer did not point to a single provision in the FAIS Act, or any other legislation, that prohibits this.

Moriting Wealth Managers was not given an opportunity to state its case before the final determination was issued.

The applicant was ‘left to guess’ the factual allegations on which the intended debarment was based, tribunal says.

Ombudsman can only condone non-compliance with a policy’s time-barring provisions if the insured shows good cause.

That the parties entered the agreement after the notice of intention to debar had been sent was highly relevant.

Questions remain whether the automation of certain procedures will have the desired results.