Costs order against FSCA for ‘irregular and unlawful’ debarment

The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.

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CMS Training

The Council of Medical Schemes will be running the following training from April onwards. Accredited skills programs Induction broker training Trustee induction training and Advanced broker training Each of the above has its […]

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Work smarter and harder

The Afrikaans idiom, “Van uitstel kom afstel” probably rings more true than the English equivalent: “Procrastination is the thief of time” as far as the financial services industry is concerned. Failing to adapt […]

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Sharemax Investigation Reopened?

Sharemax and the media never had a cosy relationship. In the early days, Deon Basson published a number of articles in which he asked searching questions which eventually led to legal action by […]

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RDR in Perspective

I was fortunate to attend a recent presentation on this topic by Billy Seyffert, COO of Moonstone Compliance. Many see the Retail Distribution Review as the beginning of the end. In a way, […]

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FSB Training intervention for Category I FSPs

The FAIS Supervision Department conducted a training intervention in 2014 for Category I FSPs who are not obliged to employ the services of a compliance officer. This continued during 2015 and 2016. During 2014 […]

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FAIS Newsletter Volume 23

As usual, this newsletter contains important information for FSPs. The FAIS online reporting system will in future be known as the FAIS ePortal and the FAIS new license application system as the FAIS […]

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Illegal Incentives in the Motor Industry

Finance and Insurance Managers (“F&I managers”) in motor dealerships are registered representatives of financial service providers (FSPs), and as such they are bound by the provisions of the FAIS Legislation. The Registrar is […]

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Imminent changes to tax-free savings regulations

The National Treasury will shortly publish final amendments to tax free savings accounts regulations for the year beginning 1 March 2017. The amendments will include: The process for transfers clarify the policy position on performance […]

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FIC Update

Registration Guidelines on Youtube The Financial Intelligence Centre created a Youtube channel containing videos on registering on the goAML system. They currently detail: The documents required Process for Entities already registered with the […]

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Conduct of Business Report

I was fortunate to be able to attend the last Compliance Report workshop for one-person businesses conducted by my colleague, Paull Lawrence. This document is scheduled to be replaced by a “Conduct of […]

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Surviving in the modern jungle

This article is a combination of information contained in a Suitebox presentation titled “The psychology of the modern client” and my own personal experience and observations. Fifteen years ago, when Moonstone was still […]

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Fica Bill challenged in ConCourt?

Friday’s edition of Legalbrief Today contained an excerpt from an article in the Mercury on continued resistance to the Financial Intelligence Centre Amendment (Fica) Bill becoming law. Those against it threatened to take […]

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World’s First E-Signing Functionality Launched

Global software provider of digital workspace technology, SuiteBox, has upgraded its software to allow for four-person meetings that, for the first time, enables the multi-party signing of documents in a secure cyber environment. […]

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Gap Cover Commission Calculation

A number of Moonstone Compliance clients queried the interpretation of the commission payable in respect of GAP cover products. The following bands were provided: Individual and group policy Monthly premium band Maximum Commission […]

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RA costs and client interests

 by Patrick Cairns Last year ASISA took a big step with the introduction of the Estimated Annual Cost (EAC) standard. Its implementation in the RA space has been particularly significant, as there have […]

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