The War of the RA Roses
The Professional Provident Society (PPS) announced in a media release last week that, from 1 October, the PPS RA (underwritten by Sanlam) will be closed for new business, as well as for new […]
Industry News
Premier Life licence withdrawn
The Registrar of Financial Services Providers withdrew the licence of Premier Life (Pty) Ltd (‘Premier’) to act as a financial services provider. The withdrawal prohibits the company from conducting business as a FSP […]
No Nonsense Workshops
We plan to run the first of our “Brass Tacks” workshops in October. Feedback from readers indicate that they are swamped with invitations to workshops and training sessions. The aim of some of […]
FAIS Ombud Determinations Toothless?
Enforcement of the FAIS Ombud’s determinations appears to be a problem, particularly from a consumer perspective. What recourse do consumers have when those ordered to make good, elect to ignore the instruction? An […]
Jongste RFD Lisensie Statistieke
Gedurende die tydperk van 23 Julie tot 19 Augustus 2012 is die magtiging van 240 Finansiële Diensverskaffers (FDV) opgeskort. Die redes was: nie-betaling van heffings en die nie-indiening van voldoeningsverslae en/of finansiële state. […]
Applying the Principle of Fairness
When you hear Liverpool fans sing “You’ll never walk alone”, rest assured that you can join in when it comes to applying the principle of fairness in the financial services industry. The judgment […]
FSB Broadcast: On-site Visit Feedback
Most of us would rather learn from the mistakes of others, than from our own. If you share this view, and would like to find out where they went wrong, please click here […]
FSB & JSE are world class
Financial Services Board (FSB) and Johannesburg Stock Exchange (JSE) are world class regulators The recently published Global Competitiveness Survey of the World Economic Forum (WEF) holds many reasons for South Africa to be […]
Treating Customers Fairly
For most of us, TCF is something hovering vaguely somewhere in the ether. With a bit of luck, and if we ignore it long enough, it will go away. Sorry to burst your […]
New FSB Broadcast
The FSB’s Insurance division did a telematic broadcast yesterday, providing an update on its activities, and sharing new developments with the industry. The Agenda reads as follows: Binder Agreements: Outsourcing & Intermediary services […]
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 […]
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 […]
