The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
The Conduct of Financial Institutions Bill (COFI) intends to regulate how the financial services industry treats its customers. The Bill was published by the Minister of Finance in December 2018 and was open for […]
Financial education champions from around the world gathered in Cape Town last week for the FSCA-OECD Conference. The conference aimed to find innovative ways to prepare financial customers for current and future changes […]
The training, hosted by Stefan Lessing, will now be held in Pinelands, Cape Town on Thursday 11 July 2019. The purpose of the course is to equip delegates with all the necessary tools and skills […]
Last week, both Liberty and Momentum released their Claim Statistics for 2018. In 2018 Liberty paid claims to the value of R4.69 billion to 28,453 individuals and their beneficiaries. Momentum also paid out claims […]
ASISA’s members united policyholders, beneficiaries, investors & heirs with unclaimed assets of R8.1bn last year. According to a recent ASISA news release, unclaimed assets of R17.1bn remain, but members will honour claims no […]
by Patrick Cairns A man entering retirement can currently expect local insurance companies to offer starting annuities of roughly between R5 250 and R5 850 per month for every R1 million of capital he has. This […]
“By exercising vigilance and following security best practices, users and organisations can take measurable steps in protecting themselves against some of the industries’ most common attacks.” Tweet by The Insurance Crime Bureau, May 21, […]
One of the bills that are awaiting sign off, now that the election has passed, is the National Credit Amendment Bill. What are the aims of the bill? The bill aims to provide […]
The publication of the FSCA’s FAIS Notice 35 of 2019 triggered a few questions in the industry. The FAIS Notice states that “FSPs, key individuals and representatives who are members of foreign professional […]
In an article in April we recapped the main qualification requirements based on Board Notice 194 of 2017. Depending on the financial product/s which financial advisors are authorised for, new entrants to the […]
The Ombud for Short Term Insurance’s mission is to resolve short term insurance complaints fairly, efficiently and impartially. How did they perform in 2018? How many complaints were received? The Ombudsman just released […]
Moonstone receives many queries about the deadline for Regulatory Exam requirements. To answer this and all FAIS related questions, FSPs and Representatives always need to take note of all Notices released by the […]
Moonstone receives many queries about the deadline for Regulatory Exam requirements. To answer this and all FAIS related questions, FSPs and Representatives always need to take note of all Notices released by the […]
The Ombudsman for Banking Services (OBS) published its annual report, showing an increase in the number of complaints received. According to Chairman, Advocate John Myburgh, the statistics for 2018 demonstrate that the need […]
The Ombudsman for Banking Services (OBS) published its annual report, showing an increase in the number of complaints received. According to Chairman, Advocate John Myburgh, the statistics for 2018 demonstrate that the need […]
The annual CPD cycle ends on 31 May 2019. With only a few days left to attain your required number of FAIS related CPD hours for the current CPD cycle, it’s also a good time […]
The annual CPD cycle ends on 31 May 2019. With only a few days left to attain your required number of FAIS related CPD hours for the current CPD cycle, it’s also a good time […]
