Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
Compliance and Legislation
Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
POPIA regulations – Don’t be left in the dark
My business processes and stores a large amount of client data. Does the POPI Act apply to me? What personal information does it relate to? With POPIA compliance crucial this year, South African […]
Proposed exemptions to tackle complications under the Fit and Proper requirements
In 2017, new classes and sub-classes of insurance business were introduced through the Insurance Act, 2017 (Act No. 18 of 2017). Subsequently, the Determination of Fit and Proper Requirements for Financial Services Providers, […]
Crypto Assets – As fraud increases, FSCA cautions investors
The Financial Sector Conduct Authority (FSCA), issued a warning on 2 February 2021 against the growing cryptocurrency scams in the country. “The FSCA is receiving a large number of complaints from South African […]
Prohibition for South African drivers?
Lockdown restrictions might have impacted the publics drinking habits and patterns, but once South Africa’s strict new drunk-driving laws have been passed, drivers won’t be allowed to drink alcohol at all. In January, […]
2021 Annual Self-Comply Compliance Webinar – Registration still open
Registration for Moonstone’s popular annual self-comply workshop for 2021 is still open. Don’t delay – book your spot today! The annual webinar aimed specifically at Financial Services Providers NOT required to appoint a […]
Business interruption claims – Santam extends settlement process to all commercial policies
Santam announced today that it will settle valid claims for all commercial policies with contingent business interruption (CBI) extensions in addition to those covered by its Hospitality & Leisure division. This announcement impacts […]
FSCA reports on investigation into Mirror Trading International (Pty) Ltd
On Tuesday, 19 January 2021, the FSCA announced that it has finalised its investigation into Mirror Trading International (Pty) Ltd (MTI) and will share its report with the liquidators appointed by the Master […]
FSCA reports on investigation into Mirror Trading International (Pty) Ltd
On Tuesday, 19 January 2021, the FSCA announced that it has finalised its investigation into Mirror Trading International (Pty) Ltd (MTI) and will share its report with the liquidators appointed by the Master […]
Business Interruption Insurance – Indemnity period now the bone of contention
Whilst the UK Supreme Court will deliver its judgment on the FCA test case on Business Interruption Insurance policy wordings tomorrow morning, South African insurer Santam commenced with a process for settling Covid-19 […]
Execution of sales or of policyholder rights?
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
Execution of sales or of policyholder rights?
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
The importance of the FSCA’s RE Preparation Guide
The Preparation Guide outlines exactly what the examination will be testing and where to find the information. Studying the Preparation Guide is in fact the very first step a candidate should take to […]
The importance of the FSCA’s RE Preparation Guide
The Preparation Guide outlines exactly what the examination will be testing and where to find the information. Studying the Preparation Guide is in fact the very first step a candidate should take to […]
Non-compliance leads to administrative penalty and debarment
Failure to comply with regulatory requirements can be a costly mistake. In a recent case, the Financial Sector Conduct Authority (FSCA) withdrew the FSP licence of Dikwena Funeral Parlour (Pty) Ltd, debarred Mr. […]
Summary of regulatory updates in December – Make sure you noted them all
As 2020 winded down, the FSCA published various regulatory updates. Comments on most of these updates are due mid-February 2021. Here is a reminder of these amendments and updates: Proposed amendments to the […]
