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education

Financial consumer education – Ensuring appropriate initiatives

One of the legislated objectives of the FSCA is to protect financial customers by providing them with financial education programmes, and otherwise promoting financial literacy and the ability to make sound financial decisions. As a result, the FSCA has published a Discussion Document containing proposed policy interventions aimed at ensuring that financial consumer education initiatives […]

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SM

Social media – 4 ways to step up your game

Social media is important to financial advisors, because more and more people are looking to social media, and the online space in general, for insurance information. Various reports have also revealed that more people are spending time online during the COVID-19 pandemic. In the UK, during the peak of the COVID-19 pandemic in April, Britain’s […]

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compliances

Should a separate debarment hearing follow after disciplinary hearing? – Supreme Court of Appeal clarifies the issue

by Joani van Vuuren, Shane Johnson, Siya Ngcamu of Webber Wentzel In a recent decision, the Supreme Court of Appeal (SCA) considered the interplay between disciplinary inquiries convened under the Labour Relations Act 66 of 1995 (LRA) and debarments of representatives under the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act). The […]

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laws

General Code of Conduct and F&P requirements Amendments – Major changes will need your serious consideration

In a note to Moonstone compliance officers, Billy Seyffert, COO of Moonstone Compliance and Legal notes: “These are some of the most important changes since the 2017 F&P changes.” The Financial Sector Conduct Authority (FSCA) has published the final amendments to the General and Short-term Deposit Codes of Conduct as well as Fit and Proper […]

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financial-advisors

Fit and Proper requirements – Alignment to Insurance Act terminology changes clarified

The Insurance Act, 2017 (Act No. 18 of 2017) promulgated on 18 January 2018, repealed and replaced all the prudential and licensing requirements that were contained in the Long-term Insurance Act, 1998 (Act No. 52 of 1998) and Short-term Insurance Act, 1998 (Act No. 53 of 1998). As a result, the introduction of the Insurance Act resulted in various […]

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