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Slow death

My wife was screaming at me: “Leave!! Get out of this house!” she ordered. As I was walking out the door she yelled, “I hope you die a slow and painful death!” So I turned around and replied “So now you want me to stay?” Yogi Berra Lawrence Peter Berra played Major League Baseball for […]

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Irregular Payments

How much justification is there for certain payments, over and above commission? Are you within the law in terms of certain levies you charge your clients? Billy Seyffert, Head of Compliance and Legal Services, recently asked me whether I was aware of such a fee on my short-term cover. I was not, but when I […]

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New FSB Broadcast

The FSB’s Insurance division did a telematic broadcast yesterday, providing an update on its activities, and sharing new developments with the industry. The Agenda reads as follows: Binder Agreements: Outsourcing & Intermediary services Communication, administration and other errors made by insurers Benefits of the development of Micro Insurance Criteria considered during product development – a […]

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Licencing Assistance

The application process has become quite a procedure, as has applying for changes to an existing licence. Moonstone has a vastly experienced team to help you overcome the hurdles and hassles normally associated with these processes. New Applications Every licence application has its own unique challenges. At Moonstone, our involvement with the application process, since […]

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Back to the drawing board

Whereto now, Coach? In retrospect, our first half against the Wallabies was not as good as the score would indicate. We did not play that well – it was rather that the Aussies were woeful. When they picked up their game in the second half, our weaknesses were exposed, and we had no counter when […]

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Duck you sucker

A duck walks into a pub and orders a pint of beer and a ham sandwich. The barman looks at him and says, “Hang on! You’re a duck.” “I see your eyes are working,” replies the duck. “And you can talk!” exclaims the barman. “I see your ears are working, too,” says the duck. “Now […]

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High Court Judgement on Deeb Risk Case

The judgement can be regarded as a ground-breaking ruling regarding the powers of the Ombud as an alternative resolution platform. The main point concerned the right of a respondent, against whom a complaint is laid, to demand that the Ombud decline to hear the case and refer it to the High Court. A second application […]

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Final RE registration date

The final date for registration for those who wish to write the level 1 RE’s before the end of September, is Monday,17 September. We added an extra day to the original schedule. The final exam in September can be written on Saturday, 29 September. There will, as always, be three sessions at each of our […]

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FSB Communications

On 29 August, the FSB broadcast a workshop aimed specifically at independent financial advisors. The title of the presentation is: “What’s new, and what to be aware of”. The Agenda covered the following topics: Structure of the FAIS Division Exemption: Board Notice 193 of 2011(Exemption of FSPS from submitting audited financial statement requirements) Financial statements […]

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Resolution Life under Curatorship

Following an application by the Executive Officer of the Financial Services Board (FSB), the South Gauteng High Court on 6 September 2012 granted a provisional order to place the life insurance business of Resolution Life Limited (Resolution Life) under provisional curatorship in terms of the Financial Institutions (Protection of Funds) Act, 28 of 2001. The […]

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