DOFA Deadlines
The jury is still out on whether 30 June or 31 December is the final date for representatives appointed in 2012 and 2013, as discussed in Thursday’s Moonstone Monitor. The FSB is reviewing the practical […]
Levy increases for 2025/26 lower than initially proposed
Moonstone’s levy calculator enables FSPs to find out quickly how much they will pay to the FSCA, FAIS Ombud, and Tribunal.
Resignation of Fidentia Curator
A press release by the FSB, following a media briefing on Thursday, discusses the events surrounding the unexpected resignation of Mr Dines Chandra Manilal Gihwala as a curator of the financial services business […]
Risk Profiling in South Africa
Historically risk profiles were used to lead customers to buy specific products. Few of these plans had the actual welfare of the client at heart. Some of the more modern versions are often […]
The Riot Act
The ridiculous controversy around Victor Matfield’s scrum cap was taken to new heights when the Bulls donned their riot squad attire on Saturday against the Stormers. The sharp contrast between their military rugby […]
Central Economy or Just Centralised…?
The Zuma administration cannot shake off the pull of the left President Jacob Zuma elevated the floundering South African economy to centre stage at his State of the Nation speech on June 17 […]
Board Notice 260 of 2014
There appears to be conflicting opinion on whether the following change, announced in this BN, will be applied retrospectively: “(e) the representative must successfully complete the relevant first level regulatory examination by 30 June […]
The Exodus Continues
This morning’s newspaper contains a new list of players heading overseas, mainly to Japan and France. The French market appears to be near saturation point, with 51 of our players in the top […]
FSP Due Diligence Responsibilities
On Monday, we briefly outlined the background to the first complaint against an advisor who invested client funds in Herman Pretorius’s Relative Value Arbitrage Fund. In his response to the complaint, the advisor […]
Reinstatement of Debarred Key Individuals
I was recently approached by an ex key individual who was debarred by the FSB in response to information supplied by the bank who previously employed him. The reason for the debarment was […]
FAIS Ombud Rules on RVAF Investment
The reasons for the sad ending to the Relative Value Arbitrage Fund, for both investors and advisors, are evident from this, the first determination by the Ombud on the Herman Pretorius saga. A […]
Boks Wilt the Flower of Scotland
Perhaps it was more a case of deflowering Scotland, given the half century in points the Boks piled up on Saturday. Most of the reports after the match focused on the excellent team […]
Zimbabwe – IMF’s diagnosis after Article IV consultations
The International Monetary Fund (IMF) reported on June 23 that it has concluded annual Article IV consultations with Zimbabwe. The multilateral organisation indicated that Harare has expressed a commitment towards implementing the policies […]
Draft Demarcation Regulations
Proposed amendments to the definition of a “business of a medical scheme” The publication of the Second Draft Demarcation Regulations follows the enactment of the Financial Services Laws General Amendment Act, No. 45 of […]
Wonga Bungle
The FSB will take on added responsibilities once “Twin Peaks” is enacted, including regulating the banking industry. It is therefore interesting to note what happened in the UK since 1 April 2013, when the Financial […]
Sink or Swim
Handré Pollard’s inclusion as the Springbok pivot is undoubtedly the main talking point around the braai fire. Braam van Straaten reckons he has the potential to be the best ever fly half in […]
Work Your Plan
The huge spike in registrations of candidates for the final date of 30 June 2014 merely confirms the tendency to leave writing the REs to the last minute. It is almost as if some people […]
A Close Shave
By a Whisker The biggest plus to come out of Saturday’s nail-biter is that the Springboks came back twice in one match from a hopeless situation and eventually managed to win by one […]
