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.
From enquiries we receive, there appears to be some confusion regarding the collection of short-term insurance premiums. This is understandable, given the various amendments to the STIA, the implementation of the Financial Sector […]
A tale of old banking, new banking and the missing wallet I was travelling in the UK earlier this year and I managed to lose my wallet. That is a horrible experience at […]
Here’s a novel revelation. It turns out customers are also human, after all. It fascinates me that in many industries and businesses we seem to have forgotten that customers (those folk that buy […]
Regulatory Examination bodies such as Moonstone operate in terms of a mandate from the FSB. In a sense, we represent the Regulator, which means that we are bound by exactly the rules and […]
The latest Mutual and Federal newsletter contains an article by SA Property News of interest to brokers and their clients who make use of facilities like AirB&B to rent out their houses and […]
In an informative assessment of the Financial Sector Regulation Bill, Alan Holton, an associate of Moonstone Compliance, wrote: “The Bill makes provision for the Prudential Authority and Financial Sector Conduct Authority to create […]
For all you know, (or may not know), it may already be there. Our staff was recently addressed by cyber security specialists on the current status of cybercrime in South Africa. This is […]
Congratulations to all recipients of these prestigious awards from all of us at Moonstone. It is pleasing to note that the majority of these winners use our platforms to share information with the […]
In case you thought this may be a rather painful dissertation on what a dentist does, think again. In the Retail Distribution Review, the Regulator aims to provide for situations where tied agents, […]
The December 2016 Retail Distribution Review update provides clarity on matters which appeared slightly confusing in earlier proposals. The Regulator did away with the “multi-tied” category of adviser – in future, you are […]
The increasingly important role of technology in assisting survival and growth in the industry necessitates more attention than most of us has hitherto given to this aspect. The one phrase most of us […]
Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards specifically applicable to investment business. No projected benefits (including but not limited to maturity, income, death, disability or (partial) […]
Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards. Some of the more interesting ones, which relate to enquiries we often receive from readers, are included below. Unwanted […]
According to an article published in Personal Finance on Saturday, the FAIS Ombud intends appealing against certain findings by the FSB Appeal Board. “Late last year, the Appeal Board of the financial services […]
The Oosthuysen determination, published in December 2016, and discussed above, yet again highlights the importance of accurate record keeping, and the need to consider using technology to cover our backs from clients suffering from […]
Bad news and good news – Both the FSB and the Council for Medical Schemes have published fee increases. FSB Fees The previous notice was published on 24 March 2015, and signed by the then […]
This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were […]
