In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
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 […]
Complaints handling is set to become a major measure of your commitment to the fair treatment of clients, or TCF as it has become known. The final proposals for implementation of changes to […]
Why is Class of Business an important 2018 training option for everyone and not only for learners who need to comply with the fit and proper requirements for financial services providers? Also add […]
Every year when I read these statistics, I wonder whether there is enough appreciation in government circles for the contribution made by the industry to alleviate the burden on the state. The 2017 […]
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 […]
The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the […]
The old saying that the wheels of justice grind slowly is certainly true when it comes to property syndication complaints addressed to the FAIS Ombud. With the demise of Sharemax in 2010, disgruntled […]
Schalk Malan, CEO of BrightRock, recently shared five of the major developments that are set to change the insurance industry as we know it. According to Schalk the rise of blockchain, personalised/precision medicine, […]
A national client survey by Santam revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars. 64% “very or extremely […]
The FSB published proposed amendments to the Policyholder Protection Rules (“PPRs”) made under the Long-term Insurance Act, 1998 and the Short-term Insurance, 1998, respectively, for public comment. The proposed amendments form part of […]
The National Credit Regulator recently published a circular and guideline in respect of the new fees that debt counsellors may charge consumers during the debt review process. The new fees are effective from […]
Some product providers have created facilities for advisers to upload documents on-line. This is then stored in a secure environment by the provider. John, a Moonstone Protector client recently raised an interesting compliance […]
A media release by the South African Reserve Bank on 1 March 2018 confirmed that the Prudential Authority (PA), one of the two pillars of the new architecture for the regulation of the financial sector, […]
Back in the good old days, you needed an ashtray, a phone and a filing cabinet to be regarded as operationally okay. Some even went to such extremes as having a fax machine […]
The world of social media can be overwhelming for some. How do you keep up with the latest trends and social media platforms? Do you have to have a presence on all? What […]
The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]
