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Where does FAIS find itself?

Amongst others, the objective of the FAIS Act and subordinate legislation may undoubtedly be summarised as the professionalisation of the financial services industry as well as the protection of financial services consumers. As with many other compliance practitioners, I have been involved with FAIS compliance since that very first fateful day in October 2004. It […]

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FSB letters cause some anxiety

The FSB sent letters to individuals regarding their RE status. Concerned readers contacted us to clarify their positions when they were told that they had not yet registered. Please bear in mind that registrations are done via the examination bodies, not the FSB. The Regulator used information at its disposal at the time, which resulted […]

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Final figures will reveal the facts

With the final date for registration behind us, the industry may soon have a clearer picture of the potential fall-out as a result of people not having written the regulatory exams. Figures released since late last year resulted in a number of questions being asked about its accuracy. This was clearly set out in the […]

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Hearing aid

In a Tottenham church Sunday morning a preacher said: “Anyone with ‘special needs’ who wants to be prayed over, please come forward to the front by the altar.” With that, Leroy got in line, and when it was his turn, the Preacher asked, “Leroy, what do you want me to pray about for you?” Leroy […]

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Exemption from Submission of Audited Financial Statements

Readers may recall that certain categories of FSPs were allowed to apply for exemption from the obligation to submit audited financial statements. The deadline for such applications was 31 May 2012. Bronwen Allan, a Moonstone Compliance Officer, submitted the following enquiry: If an FSP is not sure whether they want to be audited in future, […]

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What happens after 30 June 2012?

The industry appears to be anxiously waiting for an answer to this question from the FSB. There are certainly guidelines about what can happen, but will the circumstances call for a new approach? We asked Paul Rabenowitz, who co-compiled a legislation handbook, for his views on the matter. The question on everyone’s lips is: what […]

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Exemption from 30 June Deadline

FAIS Information Circular 9 of 2012 was published on 11 June to provide greater clarification on Board Notice 102 of 2012. The latter document contains details of certain categories of candidates who are exempt from completing the level 1 REs before 30 June this year. Those who qualify should apply for the exemption before the […]

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The Road to Hell…

Heyneke Meyer kept his word by sticking to last week’s team as much as possible. The inclusion of two Bulls will no doubt lead to a moan or two down south, but both Werner Kruger and Bjorn Basson thoroughly deserve their places in the team on their performance in the Super series. The loss of […]

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Female Demerit System

In the world of romance, one single rule applies: Make the woman happy. Do something she likes and you get points. Do something she dislikes and points are subtracted. You don’t get any points for doing something she expects. Sorry, that’s the way the game is played. Here is a guide to the point system: […]

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FSB Workshops for 2012

Registration for the FSB workshops opened at 09h00 today. Most of these will be telematic broadcasts, similar to those held last year. We were asked to assist with the distribution of DVDs for those unable to attend. Further details will be published in our newsletters as it becomes available. Two of the nine workshops will […]

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