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 South African Insurance Association has compiled a list of questions and answers to provide guidance in respect of the impact of the change in VAT rate on short-term insurance transactions. Note from […]
If there was ever any doubt about just how serious the world is about money laundering and related crimes, this was dispelled by the recent example of Australia’s Commonwealth Bank agreeing to a […]
The new Fit and Proper Determination requires that certain individuals are required to obtain a specified number of Continuous Professional Development (CPD) hours between 1 June 2018 and 31 May 2019. In response to an application to […]
The May edition of the FSCA FAIS Newsletter contains a summary of events since the publication of Board Notice 194 of 2017 (the “Fit and Proper” Board Notice) which came into effect on […]
The Financial Sector Conduct Authority (Authority) intends to replace the current compliance reports with the proposed Conduct of Business Report (COBR) that was published for public comment on the official web site of […]
Results of the 2017/2018 Old Mutual Millennial survey shows that better educated, tech-savvy and optimistic millennials – South Africans born between 1982 and 2000 – are more likely to seek financial independence and […]
Are you, as a financial advisor prepping for your RE exam, feeling intimidated by the changes introduced on 1 April 2018? The updated version of the regulatory examinations, based on the new Qualifying Criteria became […]
The following message currently appears on the Inseta Website: Regulatory Exams Learning Material The BANKSETA is currently revising the RE Learning Materials that INSETA developed in 2014. The revised RE Learning Materials will […]
The Financial Sector Conduct Authority (FSCA) has just published a general communication to Accountable Institutions (AIs) on its supervisory approach to implementation of the Amendments to the Financial Intelligence Centre Act, 2001 (FICA). […]
At the March 2018 FSB FAIS Conference, Ms Felicity Mabaso reported back on the Supervision Department’s activities in 2017 and 2018, and provided insights into its plans for 2018/2019. FSB Theme Visits: 2017/2018 […]
The natural tendency is to approach these obligations in the same manner as we did in the past – tick the box, close the file and carry on regardless. BIG MISTAKE. Like the […]
On 16 March 2018, the High Court in Cape Town provided its favourable ruling on the matter brought by the retailers, Truworths Limited, Foschini Group Limited and Mr Price Group Limited (the “Applicants”) […]
In terms of Board Notice 194 of 2017, class of business (CoB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. Moonstone Business School of Excellence (MBSE) […]
Directive PF No 8, issued on 8 March 2018, provides guidelines on how the Registrar intends to combat and prevent corruption and corrupt activities. Titled “Prohibition on the acceptance of gratification”, the document prescribes requirements […]
The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination […]
In terms of Board Notice 194 of 2017, class of business (COB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. The product categories that an FSP […]
The recent announcement of the change in the Value Added Tax rate from 14% to 15% effective 1 April 2018 did not leave much time for companies across different industries to amend their systems to […]
