A media release by the South African Reserve Bank on 1 March 2018 confirmed that the Prudential Authority (PA), one of the two pillars of the new architecture for the regulation of the financial sector, […]
Back in the good old days, you needed an ashtray, a phone and a filing cabinet to be regarded as operationally okay. Some even went to such extremes as having a fax machine […]
The scramble to be first with news of the budget reminds me of the old bull and his aspiring successor who stood on a hill observing the herd of cows grazing below. Youngster: […]
If we had to draw up a hit parade of enquiries received from readers, debarments would be top of the pops, closely followed by CPD – continuous professional development. This is not surprising […]
The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular […]
The long awaited announcement of the new Determination of Fit and Proper requirements has certainly put the cat amongst the pigeons. A lot of businesses need to re-schedule their planning in view of […]
In a recent matter between the Registrar of Long-term insurance and AVBOB (the respondent) it was agreed that AVBOB will pay a penalty of R100 000 for contravening the Policy Holder Protection Rules (Long-term […]
The respondent, Mrs Landman, is a 65 year old widow and pensioner who invested the proceeds of her late husband’s life savings/pension of R650 000 on 6 May 2006 in the Sharemax Zambezi Retail Park Holdings […]
An article in Moneyweb titled New insurance rules offer more protection, less bias discusses the introduction of a binder remuneration cap of 9% in amendments to the long- and short-term insurance regulations which […]
Neil Summers, Head of Sales at Moonstone, recently wrote an article for Bizconnect which is of great interest to those keen to explore new avenues to generate business by harnessing IT advances to […]
The amended Determination of Fit and Proper Requirements comes into effect on 1 April 2018. Regulatory Exam Study Material The amended requirements will have a substantial impact on the content of the study material for […]
Board Notice 194 of 2017 contains the latest information on who should write which exams. The competence requirements relating to regulatory examinations determine that all FSPs, key individuals and representatives should write and […]
The Fit and Proper Requirements 2017 published recently, also provides stipulations on operational ability. Billy Seyffert, COO of Moonstone Compliance and Risk Management, pointed out an important consideration for Key Individuals: A FSP […]
The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. Do not be fooled by the fact that the determination, sans […]
The FSB published the following media release on 20 December: On 19 December 2017, the Pretoria High Court granted an application brought by the Registrar of Pension Funds in terms of section 5(1) of […]
FAIS Newsletter 25 from the FSB is dedicated to the Financial Intelligence Centre Act and, more specifically, to substantial changes which came into effect in June and October. The amendments are designed to […]
The Registrar of Pension Funds published Notice 4 of 2017 which gave notice of its intention to cancel a substantial number of funds in response to applications from fund administrators. Any person aggrieved by […]
