Miserable Countries
No, this has nothing to places to avoid when travelling around the globe. In fact, it may well be places you wish to go to, given the poor exchange rate because of the […]
Industry News
Misrepresentation of Regular Driver Details
The Ombudsman for Short-Term Insurance published an information document for the public on the importance of providing accurate “regular driver” details. The regular driver is the person who drives the vehicle most often […]
Regulatory update on Short term matters
The FSB FAIS Conference earlier this month provided the latest thinking on a number of important aspects related to the short-term industry. Binders and outsourcing Leanne Jackson pointed out that a significant risk […]
SA expats unite against proposed tax changes
Kirsten Hastings, writing for International Adviser notes that Expats working overseas have formed a Facebook group to stay abreast of developments on Treasury’s investigation into possibly taxing them. South Africans working in countries […]
CIS STATISTICS FOR 2016
The annual local Collective Investment Schemes (CIS) industry statistics for 2016 were released in February. The statistics show that the industry enjoyed strong growth in 2016, attracting net inflows of R166 billion and pushing […]
FSB’s Core Focus for Transition to FSCA
Below is a summary of a recent article by Advocate Dube Tshidi, Executive Officer at the FSB, which was published in Insurance Gateway. When the FSB becomes the Financial Services Conduct Authority (FSCA), […]
CMS Training
The Council of Medical Schemes will be running the following training from April onwards. Accredited skills programs Induction broker training Trustee induction training and Advanced broker training Each of the above has its […]
Sharemax Investigation Reopened?
Sharemax and the media never had a cosy relationship. In the early days, Deon Basson published a number of articles in which he asked searching questions which eventually led to legal action by […]
FAIS Newsletter Volume 23
As usual, this newsletter contains important information for FSPs. The FAIS online reporting system will in future be known as the FAIS ePortal and the FAIS new license application system as the FAIS […]
FIC Update
Registration Guidelines on Youtube The Financial Intelligence Centre created a Youtube channel containing videos on registering on the goAML system. They currently detail: The documents required Process for Entities already registered with the […]
Gap Cover Commission Calculation
A number of Moonstone Compliance clients queried the interpretation of the commission payable in respect of GAP cover products. The following bands were provided: Individual and group policy Monthly premium band Maximum Commission […]
RA costs and client interests
by Patrick Cairns Last year ASISA took a big step with the introduction of the Estimated Annual Cost (EAC) standard. Its implementation in the RA space has been particularly significant, as there have […]
Prof Matthew Lester’s tequila-tax-slam-dunk
Can we use the changes in income tax to score big on our tax returns? 22 February 2017 is South Africa’s national budget day and there is a lot of doom and gloom […]
Budget Warmup Cocktail
It’s that time of year when everyone is speculating on what will happen on the National 2017/18 National Budget Speech. I do hope those who predict a VAT increase are as bonkers as […]
Insurance Bill criticised by black business
Business Day reports as follows: A highly technical bill intended to strengthen the prudential regulation of the insurance industry was attacked by black business in Parliament on Tuesday for reinforcing the barriers to […]
Santam makes TCF decision
An Operational Circular titled “Settlement of claims on damaged or stolen vehicle tyres and shock absorbers/springs”, issued on 24 January 2017, provides a good example of Treating Customers Fairly in action. Commercial and Personal lines […]
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 […]
