Utilisation of Medical Services
The Council for Medical Schemes (CMS) carried out an analysis on the utilisation data of health services during the calendar years 2013 and 2014, based on the data provided by medical schemes through […]
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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Lapsing of a FSB Licence
A FSP appealed, in terms of sec 39 of the FAIS Act, against a decision by the FSB, dated 15 December 2014, to withdraw its authorisation as a FSP. The decision was based on the […]
National Credit Act Training now Online
In response to the demand for an affordable and easily accessible platform for those who are required to undergo training on the National Credit Act, Moonstone Business School of Excellence developed two options. […]
Appeal Board refuses further delays
On 23 February 2016, the Appeal Board received a request for postponement of a hearing scheduled for the following day. The appellant and his attorney submitted medical certificates confirming that they had both undergone surgery […]
Regulator bares its fangs
A penalty of R2 million was imposed on Abangcwabi Myendeki Funeral Parlour CC for contravening sections 7(1) and 8(3) of the Long-term Insurance Act, No. 52 of 1998 (the Act). “The recommended penalty was […]
Conveying Material Terms to Clients
There is more to conveying changes in material terms to clients than simply dropping them a note to that effect. The Khoza determination by the FAIS Ombud provides guidelines in this regard. The […]
FIA on Health Minister’s assertions
Justus van Pletzen, CEO at the Financial Intermediaries Association of Southern Africa (FIA), provided a much needed perspective on the issue of the impact of broker commission on the cost of private healthcare. […]
Allan Gray reduces investment platform fees
Allan Gray has reduced the annual administration fee on its local platform for investments over R5 million, and on its offshore platform for investments over US$400 000 (or foreign currency equivalent). Effective immediately, for all […]
FAIS Ombud – Loss assessment disputed
The recent Cornelissen determination by the FAIS Ombud provided insight into a number of very interesting aspects not previously covered in her determinations. The eventual finding is also something new for us. Overcharging […]
T20 Tension Building
Cricinfo writes: How did it come to this? After 39.3 overs of a pulsating contest in Bangalore, Bangladesh seemed to have a first ever T20 victory against India in their grasp. Two runs […]
National Credit Act (NCA) Course
Moonstone Business School of Excellence offers the National Credit Act (NCA) Course for: Intermediaries in the Motor industry who are Finance and Insurance brokers (F&I). Industry providers of personal loans, HP agreements, credit […]
Updated FSB views on Phase 1 Proposals
The following updates were provided at the recent FSB FAIS Conference. Fourteen RDR proposals were proposed to be implemented before implementation of the Financial Sector Regulation Act (FSRA), which was tabled in Parliament […]
Awareness of pending changes encouraging
This article appears in the March 2016 edition of MoneyMarketing. MoneyMarketing asked Billy Seyffert, Chief Operating Officer at Moonstone Compliance, about the current investment management and intermediary space in the light of the […]
Revised F & P requirements for Key Individuals
The RDR Phase 1 status update provided clarity on the FSB’s thinking on the future role and functions of a Key Individual. Under the discussion of Proposal Y: Advisers may not act as representatives […]
Living or Guaranteed Annuity?
Patrick Cairns of Moneyweb recently published an article on this question which is particularly relevant in the current climate of expected interest rate increases. Q: I retired last year and invested my capital […]
Causal event charges investigated
An article in Personal Finance titled, Whistle-blower helping FSB with research into penalties announces the contracting of an expert by the FSB to assist in monitoring adherence to prescriptions contained in Directive 153 which […]
