RAF faces claims surge if form falls
SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
Conflicting Accounts Regarding Cambist
According to Moneyweb, some firms with close ties to Cambist are experiencing problems. A month ago, OneLaw indicated that it would be offering voluntary severance packages to staff who wanted to leave. Earlier […]
2014 Compliance Report Workshop
FSPs not obliged to appoint a compliance officer need to submit their 2014 Compliance Reports by the end of February 2015. We invite all those affected to pre-book their seats at this popular annual […]
Appeal Court Judgment on J Arthur Brown
The successful appeal by the State against the judgment by the High Court against J Arthur Brown certainly makes for interesting reading. The judgment found that the Western Cape High Court erred in […]
Regulatory Exam update
Registrations for exams in 2014 closed on 28 November. Those who wish to register for next year must please contact our offices before 20 December 2014. Moonstone reopens on 5 January 2015, and the first exams […]
Moonstone RDR Workshops
The Retail Distribution Review will have a huge impact on the way business is conducted in all sectors of the financial services industry. We expect two reactions to the proposals: those who dig […]
Causal Event Charges and the RDR
A vast number of interpretive articles were published on the retail distribution review discussion paper since its publication. Unfortunately, a number of these added to the confusion, rather than provide clarity on this […]
Mujuru’s axing opens door for Mnangagwa as Zimbabwe’s next president
Mujuru’s axing opens door for Mnangagwa as Zimbabwe’s next president Vice President Joice Mujuru has been axed, as expected. Apparently not wishing to leave her and her supporters’ fate to any chance, party […]
Springboks Slip Sliding Away
While reflecting on Saturday’s match between the Springboks and Wales, a Paul Simon song kept popping up in my head: “You know the nearer your destination, the more you’re slip sliding away.” Perhaps […]
The new Level 2 REs?
The provision of generic and product-specific training will become an important obligation for product providers under the RDR. In the discussion of these obligations, the following paragraph provides a possible clue on how […]
Product Suppliers to come to the Party
The Retail Distribution Review expresses a popular view held by long-suffering financial advisors: “The current regulatory framework gives rise to imbalances in the responsibility of product suppliers and intermediaries for fair customer outcomes, […]
Proposed Adviser Models under RDR
The information below is a brief synopsis of the proposals contained in the RDR proposals in order to better understand the article below. A comprehensive outline of the various roles is contained in […]
A costly Oversight
A recent determination by the Ombud highlights a number of important issues when it comes to an advisor’s obligations towards clients. The complainant enjoyed comprehensive cover with Zurich Insurance. On 8 April 2013, he requested […]
Cricket mourns Phil Hughes
The cricket fraternity is almost inconsolable as it mourns the death of the very talented Phil Hughes after he was hit by a bouncer in a Sheffield game in Australia 2 days ago. […]
Funding Window for Skills Programmes 2014
Applications for funding assistance from Inseta close this Wednesday, 26 November 2014. Interested parties requiring more information or assistance must urgently contact Albert Marais or Ronel Nell at Moonstone 021 883 8000. 1. Skills […]
Equivalence of reward to be reviewed
The Retail Distribution Review (RDR) sees unequal benefits accruing to certain distribution channels as a problem requiring change. The current Regulations applicable to the Long-term Insurance Act provide that the Registrar may determine […]
Churning and RDR
In the good old days, the Pete Seeger song “Turn, turn, turn” was banned from being aired on the radio because it contained phrases from the Bible. Many honest advisors have, for a […]
