Fit & Proper qualification requirements
– Ensure appropriate qualification for the applicable financial product One of the frequent questions we receive around the new Fit and proper Determination (Board Notice 194 of 2017) is whether or not a […]
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
Your DOFA and RE requirements
“My DOFA date is 1st August 2016. Is my deadline to pass the Regulatory Exam 30 June 2019?” Moonstone receives many queries about the deadline for Regulatory Exam requirements. To answer this question and all FAIS related […]
Social media – Blunders you should avoid
Opening a social media account is easy. But, simply opening an account and posting a few updates is not good enough to say that you have accomplished social media. By avoiding some basic […]
The POPI Act Glossary – 15 important terms to understand your obligations better
Media update’s Aisling McCarthy recently took readers through a list of 15 terms that you’ll need to know in order to fully understand the POPI Act. The Protection of Personal Information Act or […]
The POPI Act Glossary – 15 important terms to understand your obligations better
Media update’s Aisling McCarthy recently took readers through a list of 15 terms that you’ll need to know in order to fully understand the POPI Act. The Protection of Personal Information Act or […]
Collection of insurance premiums – Update on regulatory framework
Just before year end, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 2 of 2018: Update on the future of the premium collection regulatory framework under the Short- and Long-term Insurance Acts. […]
Collection of insurance premiums – Update on regulatory framework
Just before year end, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 2 of 2018: Update on the future of the premium collection regulatory framework under the Short- and Long-term Insurance Acts. […]
ASISA Retirement Savings Cost Disclosure Standard
– Aims to build trust not expose hidden costs “Big financial services companies may soon need to find new ways to pad their earnings, as a new industry standard is threatening to expose […]
Credit card fraud – Elderly the most vulnerable
The Ombudsman for Banking Services has seen an alarming spike in credit card fraud since January this year, in particular, aimed at clients over 60. In a recent interview the Banking Ombud’s, Reana […]
Continuous Professional Development – Do you have enough hours?
With less than 50 days before the end of the current CPD cycle, are your hours matching the Fit and Proper requirements? In terms of the Fit & Proper requirements (BN194), Continuous Professional […]
Suitebox now integrated with Xplan
A Customer Relationship Management System (CRM) offers an advisor a myriad of benefits including, but not limited to, sales and relationship management, marketing support and data analytics, management and security. In keeping with […]
Credit Provider fees deemed illegal – VWFS ordered to refund clients
The National Consumer Tribunal found that the “on the road fee”, admin fee and handling fee charged by Volkswagen Financial Services South Africa (Pty) Ltd (VWFS) on credit agreements are unlawful. Although this […]
Rising divorce rates – Financial advice for couples
Although getting divorced is a relatively straightforward process, at least from a legal perspective, the emotional and financial implications are often enormous. This is the view of Allan Gray’s Legal Advisor, Mlulamiu Nxele. […]
New broom sweeps clean – FAIS Ombud gives life to its core values
The statutory mandate which led to the creation of this Ombud’s office requires that it considers and disposes of complaints in a procedurally fair, informal, economical and expeditious manner, and by reference to […]
Don’t put the cart before the horse – Ensure that an insured is appropriately covered
Obtain all the relevant and available information and make a recommendation that is appropriate in terms of your clients’ needs and circumstances. If advisors fail in this basic requirement, the outcome can be […]
South African fintech in 2019 – What can we expect?
According to Wikipedia financial technology, often shortened to FinTech or fintech, is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is […]
Key trends in Medical Schemes Industry – Financial strength of the industry remain stable
Alexander Forbes Health recently published its latest edition of Diagnosis, an annual publication that analyses key trends in the medical schemes industry from 2000 to 2017. “Members can be confident that the country’s […]
