Regulatory Exam Bodies may not endorse Training Services
Regulatory Examination bodies such as Moonstone operate in terms of a mandate from the FSB. In a sense, we represent the Regulator, which means that we are bound by exactly the rules and […]
Industry News
Risk Involved in Short-term Home Rentals
The latest Mutual and Federal newsletter contains an article by SA Property News of interest to brokers and their clients who make use of facilities like AirB&B to rent out their houses and […]
Raging Bull Awards
Congratulations to all recipients of these prestigious awards from all of us at Moonstone. It is pleasing to note that the majority of these winners use our platforms to share information with the […]
Adviser and Advice Differentiation
The December 2016 Retail Distribution Review update provides clarity on matters which appeared slightly confusing in earlier proposals. The Regulator did away with the “multi-tied” category of adviser – in future, you are […]
New advertising standards
Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards. Some of the more interesting ones, which relate to enquiries we often receive from readers, are included below. Unwanted […]
Slim vang sy baas
This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were […]
Remuneration for Investment Product Advice
This is possibly the biggest bone of contention for advisers in the investment space. In the FSB’s RDR Update published in December 2016, the following information was conveyed: Commission on investment products As indicated […]
Conduct of Business Reforms in 2017
At the conclusion of the Insurance Regulatory Seminar last year, Mr. Jonathan Dixon, Deputy Registrar of Insurance at the FSB, indicated that 2017 will be a year of substantial change. The huge amount […]
Conduct of Business Reports
The FSB intends replacing the current FSB compliance reports with Conduct of Business Reports (COBR) and has called for industry input on the proposed document. The content and format of the proposed COBR […]
Suitebox Assessment by Industry Experts
SuiteBox provides video business meeting software of specific benefit to modern day financial advisers. Apart from providing significant cost, productivity and client engagement improvements, it assists in simplifying record keeping. Inaccurate or insufficient […]
Important Proposals on Regulatory Changes
Revised Draft Default Regulations on Lowering Charges and Improving Market Conduct for Retirement Funds: National Treasury today publishes a second draft of the retirement funds default regulations, made in terms of section 36 […]
National Credit Regulator and CMS under Twin Peaks
In a report of the Standing Committee on Finance on the Financial Sector Regulation (Twin Peaks) Bill the committee touched on the possibility of duplication in regulation, not only in terms of the […]
RDR Status update November 2016 Part 1
A new discussion document on RDR is due for release before the end of December for industry input. At the Insurance Regulatory Seminar in Cape Town on 17 November 2016, the following information, which will […]
Comparing Emerging Regulations
A bosom buddy of mine, now deceased, when asked what he would do differently if he could live his life over, said: “I would make the same mistakes, just start sooner.” I have […]
Growing importance of Data
At the 2016 Insurance Regulatory Seminar held in Cape Town last week, Farzana Badat, Head of Insurance Compliance went to great lengths to illustrate the importance of “…reliable, dependable, quality data… to articulate […]
Does size matter?
In Case 1 discussed above, the Ombud also made the following statement: “The investigation further revealed that the respondent, in advising the complainant, had compared various financial products on the basis of a […]
Justice delayed?
We noted with great concern that there were delays of up to five years in resolving some complaints from the time the Office of the Ombud undertook to investigate the complaint. This was […]
