Privacy & Digital Marketing
With the recent Facebook–Cambridge Analytica data scandal as well as the European Union’s new set of data privacy laws that were implemented on 25 May 2018, data protection and privacy are two of the most […]
FSCA licenses most crypto provider applicants – as enforcement tightens
The rising number of investigations and inspections underline a shift from registration to active supervision.
VAT rate on short-term insurance transactions
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 […]
FICA Update June 2018
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 […]
Moonstone Monitor approved for CPD hours
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 […]
FSCA RE Study Material update June 2018
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 […]
New Draft Conduct of Business Report
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 […]
Millennials and reaching financial freedom?
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 […]
Regulatory Exams – how to prepare
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 […]
Regulatory Exam Material Update
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 […]
Regulatory Focus on FICA
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). […]
Supervision Department Feedback and Focus
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 […]
Complex F & P Competency Requirements
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 […]
High Court sets aside Validation of Gross Income methods
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”) […]
Long-term Insurance Class of business Training
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 on Prohibition of Corruption in Pension Schemes
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 […]
FSB Regulatory Exam update – What will be significantly impacted by Board Notice 194
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 […]
Class of business – More about Short-term Insurance – Personal lines
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 […]
