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Exemption of Certain Representatives from COB Training Requirements

In terms of section 29 of the Determination of Fit and Proper Requirements for Financial Services Providers, 2017 (“Determination”), representatives must, prior to rendering any financial services, complete class of business training (CoB) relevant to the financial products for which they are appointed. This requirement came into effect on 1 August 2018. Although the transitional provisions of […]

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Supervisee

Exemption of services under supervision – part 2

Exemption of services under supervision – Differences between 2008 Exemption and the Draft Exemption (part 2) The FSCA’s discussion on the substance of the Draft Exemption is structured to highlight the significant differences between the 2008 Exemption and the Draft Exemption rather than to address each and every difference or new requirement. In Monday’s article […]

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Transfer-Money

Low income earners spending more

Old Mutual Savings and Investment Monitor – Low income earners spending more Every year the Old Mutual Savings & Investment Monitor tracks the shifts in the financial attitudes and behaviour of South Africa’s working metropolitan population. This year John Manyike, Head of Financial Education at Old Mutual, pointed out that low earners (households earning less […]

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New “top” Medical Aid 2018

New “top” Medical Aid 2018 – Consulta’s release of South African Customer Satisfaction Index The latest results for the South African Customer Satisfaction Index (the SA-csi) for medical schemes revealed that Medihelp has the most satisfied customers in a competitive, yet underwhelming industry. According to the 2018 results released by Consulta, there has been a […]

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client_centric

Exemption of services under supervision – part 1

Exemption of services under supervision – Differences between 2008 Exemption and the Draft Exemption The FSCA released the “Consultation Paper: Exemption on services under supervision” last week and mentioned that it is necessary to replace the 2008 Exemption with the Draft Exemption (the replacement) to achieve the objective of the exemption which is to facilitate […]

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Social-Media-Policy

Who owns your LinkedIn profile?

Nowadays everyone has a social media account. In some cases employees also use their personal social networking accounts for work. The question now is: who actually owns those accounts? Even if you’ve never ever used it to manage a company page ‘your LinkedIn account’ may actually belong to your employer based on your employment contract. […]

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training-concept

Class of Business – make it part of your training schedule

With the Class of Business requirements that commenced on 1 August 2018 it is important to note that CoB can also be added to your training schedule if you: Wish to remain up to date with class of business product information, in order to maintain your on-going competence in terms of the fit-and-proper requirements. Wish to obtain […]

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Exemption of Services under Supervision Consultation Paper released

The FSCA has released the Exemption on Services under Supervision Consultation Paper. The Consultation Paper relates to the FSCA’s proposed withdrawal of the Notice on the Exemption of Services under Supervision in terms of Requirements and Conditions, 2008 (2008 Exemption), and the replacement of the 2008 Exemption. Interested parties are invited to submit submissions on […]

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