Licencing Assistance
The application process has become quite a procedure, as has applying for changes to an existing licence. Moonstone has a vastly experienced team to help you overcome the hurdles and hassles normally associated […]
Industry News
High Court Judgement on Deeb Risk Case
The judgement can be regarded as a ground-breaking ruling regarding the powers of the Ombud as an alternative resolution platform. The main point concerned the right of a respondent, against whom a complaint […]
FSB Communications
On 29 August, the FSB broadcast a workshop aimed specifically at independent financial advisors. The title of the presentation is: “What’s new, and what to be aware of”. The Agenda covered the following […]
Resolution Life under Curatorship
Following an application by the Executive Officer of the Financial Services Board (FSB), the South Gauteng High Court on 6 September 2012 granted a provisional order to place the life insurance business of […]
What Exemptions are Allowed?
Exemptions have become an integral part of our regulated environment. A recent response by the FSB to such a request provides very useful insight into the process. There are only two grounds on […]
And Justice for All
In Monday’s Moonstone Investment Indicators we discussed a recent determination by the FAIS Ombud, with specific reference to the appeal by the respondent for the opportunity to lead evidence and cross question witnesses. […]
Qualifications re-visited
Board Notice 135 of 2012 contains the latest information pertaining to approved qualifications. There are two bits of good news: It is printed in landscape format, so older readers like myself will not […]
DOFA Demystified
Newcomers to our industry is often baffled by the seemingly endless array of abbreviations. DOFA is not a person who is not very bright, nor is it an airport in the Middle East. […]
Is the Ombud System Fair?
The jurisdiction of the FAIS Ombud has been questioned on a number of occasions, notably in the current High Court case between the Ombud and Deeb Risk, and yet again in a later […]
FSB Communications
On 29 August, the FSB broadcast a workshop aimed specifically at independent financial advisors. The title of the presentation is: “What’s new, and what to be aware of”. The Agenda covered the following […]
FSB Levy Deadline
The annual levies payable to the Regulator is calculated on your position as at 31 August 2012. This is for the period 1 April 2012 to 31 March 2013. Should your information have […]
Disclosure of Costs
A recent finding by the FAIS Ombud will probably cause product providers to rethink how they disclose costs, including commission, in quotation packages. The General Code of conduct stipulates that a provider “…must, […]
Service Standards for Complaints Resolution
We regularly hear from readers about poor handling of complaints by product providers. The major problem from an advisor’s perspective is that a lack of response from the product house reflects badly on […]
Another Investment Scheme under Provisional Curatorship
The total assets under management of the Rockland Targeted Development Investment Fund was placed under provisional curatorship on Tuesday after an ex parte application by the FSB. Bert Chanetsa of the FSB said […]
FSB Broadcast on CPD
Continuous professional development has become the new buzz word as far as the regulatory exams are concerned. This was also the theme of the latest television broadcast by the FSB. It contains a […]
“Offs” and “Ons” Update
We kept a record of the number of FSP “offs” and “ons” as recorded in press releases by the FSB since 18 February last year. The figures are as follows: […]
FAIS and the CPA
The Consumer Protection Act is a landmark piece of legislation, aimed at protecting consumers from dubious business practices. The FAIS Act aims to regulate financial advice and intermediary services, with the stated intent […]
