Springbok emblem in the crosshairs again
We normally refrain from mixing politics with sport in this column. My comments below should also not be construed as political, but rather as a practical perspective on a few issues that should […]
Alexforbes’ pivot to independent advisers starts paying off
Strong retail flows, rising adviser numbers, and expanding support capabilities suggest the group’s push to win over IFAs is beginning to deliver measurable results.
Reinstatement of Debarred Representatives
We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]
New Proposals affecting Compliance Officers
Two new draft Board Notices were published by the FSB last week. The first aims to provide clarity on what will be required of current Compliance Officers in terms of regulatory exams, while […]
When is a debarment not a debarment? Part 2
Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, continues his in-depth look at this very contentious issue from a legal perspective. The FSB produced a GUIDELINE ON THE DEBARMENT PROCESS […]
When is a debarment not a debarment? Part 3
This is the third and final article in a series by Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, on this very contentious issue. What is a possible remedy? It […]
New CO Fit & Proper Proposals
We reported on the 18th of April of two new draft Board Notices which aim to clarify the regulatory exam requirements for compliance officers and COs under supervision. A compliance officer must successfully […]
Proposed amendments to the Exemption i.r.o. COs under Supervision
In terms of the Exemption, a supervisee who does not meet the required experience and regulatory examination requirements on approval, may render compliance services under supervision whilst obtaining the required experience and regulatory […]
When is a debarment not a debarment? Part 1
This subject normally elicits more responses from readers than most others. Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, takes an in-depth look at this very contentious issue from a […]
What will Toetie do?
The majority of reports on Allister “Toetie” Coetzee’s appointment as Springbok coach, focused more on transformation challenges than on preparing a team in limited time for a test series against a side that […]
Latest on POPI
The Protection of Personal Information Act features fairly regularly in the news, and training offers are abundant, but not yet really necessary, in our view, as the Act only takes effect one year […]
Can I change my tenant’s locks?
“I’ve been leasing a small townhouse to a young tenant. Unfortunately, the tenant is terrible at paying his rent and offers excuse after excuse. I’m fed up with the situation and just want […]
FIC Update
The Financial Intelligence Centre (FIC) is preparing to launch its new registration and reporting system on Monday, 25 April 2016. To date, it has migrated the registration data of all institutions currently registered with the […]
Cautionary note to CIS Managers
Board Notice 92 of 2014 was promulgated in August 2014. It prescribed disclosure requirements, and came into effect on 1 May 2015. The Registrar adopted a phase-in approach in order to allow Managers time to gain […]
Objective Product Recommendation and Advice
The FSB is still grappling to find an equitable solution to the ideal adviser categorisation model. It seems to have moved away from the original thinking which provided for three categories. In particular, […]
FSB warnings to the public
The Financial Services Board cautioned the public against dealing with two unauthorised entities using fake FSB certificates. Millenniums Financial Services CC is not authorised in terms of the Financial Advisory and Intermediary Services […]
FIC Registration Requirements
It appears that there is still uncertainty about who is required to register with the Financial Intelligence Centre. PCC05A, which came into effect on 30 March 2016, provides additional clarity on the position of financial […]
Ministry of Finance on Offshore Accounts
A special voluntary disclosure programme (VDP) was proposed in the 2016 Budget to make it easier for non-compliant individuals and firms to disclose assets held and income earned offshore. As was noted in […]
