Your One-Stop Fit and Proper Solution
The long awaited announcement of the new Determination of Fit and Proper requirements has certainly put the cat amongst the pigeons. A lot of businesses need to re-schedule their planning in view of […]
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Are you Digitally Linked In?
It’s the start of 2018 and you have done your annual planning. Does this include the implementation of a digital channel as part of your marketing and client interaction? Here are a few […]
Check your Mate
In a recent matter between the Registrar of Long-term insurance and AVBOB (the respondent) it was agreed that AVBOB will pay a penalty of R100 000 for contravening the Policy Holder Protection Rules (Long-term […]
Unsuccessful Appeal Against Debarment
Cases heard by the Appeal Board of the FSB often provide more stringent legal certainty to matters in the financial services industry, particularly in so far as decisions by the FSB itself and […]
F & P Guidelines for appointment of representatives
The new Fit and Proper regulations provide a wide range of prescriptions which FSPs should consider when appointing new representatives. It also has a potential bearing on current appointees who may be unrehabilitated […]
Digital Marketing Guide
I recently downloaded a 16-page white paper titled The Advisor’s Guide to Digital Marketing which offers a wide variety of tips on how you can use various platforms to optimise your client contact […]
Changes to Regulatory Exam Questions
The amended Determination of Fit and Proper Requirements come into effect on 1 April 2018. The competence requirements relating to regulatory examinations contained in the amended Determination apply to all FSPs, key individuals and representatives […]
Appeal Board decision on Ombud Procedural Obligations
The respondent, Mrs Landman, is a 65 year old widow and pensioner who invested the proceeds of her late husband’s life savings/pension of R650 000 on 6 May 2006 in the Sharemax Zambezi Retail Park Holdings […]
Professional Principal Executive Officer Qualification
Registration is now open for candidates who want to enrol for the first intake on 26 February 2018. The Professional Principal Executive Officer Qualification is a much-needed stimulus for the professionalisation of the […]
New Binder Fee Regulations Bring Consistency
An article in Moneyweb titled New insurance rules offer more protection, less bias discusses the introduction of a binder remuneration cap of 9% in amendments to the long- and short-term insurance regulations which […]
CPD Important considerations before you proceed
In a nutshell In terms of Section 32 of Board Notice 194 of 2017 (Determination of Fit and Proper Requirements for Financial Services Providers, 2017), every sole proprietor, key individual and representative must […]
5 Top customer engagement tactics to try in 2018
Neil Summers, Head of Sales at Moonstone, recently wrote an article for Bizconnect which is of great interest to those keen to explore new avenues to generate business by harnessing IT advances to […]
Changes to Regulatory Exam Questions
The amended Determination of Fit and Proper Requirements comes into effect on 1 April 2018. Regulatory Exam Study Material The amended requirements will have a substantial impact on the content of the study material for […]
New Fit and Proper Regulatory Exam Requirements
Board Notice 194 of 2017 contains the latest information on who should write which exams. The competence requirements relating to regulatory examinations determine that all FSPs, key individuals and representatives should write and […]
Transitional provisions under New Fit and Proper Determination
Whilst the 2017 Determination of Fit and Proper requirements rings in a new era of onerous obligations, it also provides a substantial amount of relief for the “oud-stryders” in terms of a number […]
Draft Determination on Equivalence of Reward
The sustainability of independent financial advice was always a key aspect in the Registrar’s approach to the Retail Distribution Review. Board Notice 181 of 2017, published on 10 November last year, aims to level […]
Changes to Regulatory Exam Questions
The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. The amended determination comes into effect on 1 April 2018. The competence requirements […]
