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Long-term Insurance Class of business Training

In terms of Board Notice 194 of 2017, class of business (CoB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. Moonstone Business School of Excellence (MBSE) is a duly accredited institution and will provide training in all nine CoB modules stipulated in the Act. What will the Long-term […]

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Pension-funds

Directive on Prohibition of Corruption in Pension Schemes

Directive PF No 8, issued on 8 March 2018, provides guidelines on how the Registrar intends to combat and prevent corruption and corrupt activities. Titled “Prohibition on the acceptance of gratification”, the document prescribes requirements affecting principal officers, deputy principal officers, board members, employees of retirement funds, valuators, auditors, administrators, employees of administrators or other officers or […]

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FSB Regulatory Exam update – What will be significantly impacted by Board Notice 194

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination ON or AFTER Tuesday, 3 April 2018 are obliged to write the new version of the regulatory examination, which will contain the updated questions. […]

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loud-hailer

Do what I say

Complaints handling is set to become a major measure of your commitment to the fair treatment of clients, or TCF as it has become known. The final proposals for implementation of changes to the General Code of Conduct reiterate this. There is now an official definition of what a complaint is: “complaint” means an expression […]

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training-concept

Add Class of Business to your 2018 training calendar

Why is Class of Business an important 2018 training option for everyone and not only for learners who need to comply with the fit and proper requirements for financial services providers? Also add COB training to your training schedule if you: Wish to remain up to date with class of business product information, in order […]

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stats

Long term Insurance Industry Statistics 2017

Every year when I read these statistics, I wonder whether there is enough appreciation in government circles for the contribution made by the industry to alleviate the burden on the state. The 2017 long-term insurance industry statistics released on 14 March 2018 by the Association for Savings and Investment South Africa (ASISA) show that despite the healthy […]

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RE-pencil

Study Material Update

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination ON or AFTER Tuesday, 3 April 2018 are obliged to write the new version of the regulatory examination, which will contain the updated questions. […]

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Appeal-Board

Audenberg Appeal against FAIS Ombud

The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the Ombud’s handling of the case. What is its mandate? Under the heading “Risk management”, the latest FAIS Ombud annual report notes: “The […]

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