FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
New sectors for South African collective investments
The Association for Savings and Investments South Africa (ASISA) announced this week that a new fund classification standard has been finalised and approved for implementation on the 1st of January 2013. The new […]
Applying the Principle of Fairness
When you hear Liverpool fans sing “You’ll never walk alone”, rest assured that you can join in when it comes to applying the principle of fairness in the financial services industry. The judgment […]
FSB Broadcast: On-site Visit Feedback
Most of us would rather learn from the mistakes of others, than from our own. If you share this view, and would like to find out where they went wrong, please click here […]
When can you expect your results?
A number of people expressed unhappiness about the further extension of the final date for successful completion of the level 1 REs for key individuals and reps. Perhaps we should adopt the view […]
Reaction to RE Postponement
We received a number of responses to the special mailing on Friday. Some commentators were angry, others understanding. Piet skryf: Hi Paul, ek is dankbaar vir van my mede bemarkers, maar dankbaar ek […]
FSB & JSE are world class
Financial Services Board (FSB) and Johannesburg Stock Exchange (JSE) are world class regulators The recently published Global Competitiveness Survey of the World Economic Forum (WEF) holds many reasons for South Africa to be […]
The One That Got Away
An article in Psychology Today carried the same title. It starts off with the following words: “Though we are designed to learn from our mistakes, remembering them is rarely enjoyable. Especially when they […]
Treating Customers Fairly
For most of us, TCF is something hovering vaguely somewhere in the ether. With a bit of luck, and if we ignore it long enough, it will go away. Sorry to burst your […]
The Price of Procrastination
I received a call from a broker a few weeks ago: R: I am writing on the 28th of September, and mark my words, if I do not pass, there will be hell […]
Extension of Deadline for RE's
The Financial Services Board (FSB) has today decided to extend the deadline by which persons that fall under the exemption previously granted by the FSB under Board Notice 61 of 2012 were required […]
Time and Tide
The song, Time and the river, is an old favourite, going back to the sixties, toe manne nog manne was, en die Bokke bo. The opening lines occurred to me when I was […]
Slow death
My wife was screaming at me: “Leave!! Get out of this house!” she ordered. As I was walking out the door she yelled, “I hope you die a slow and painful death!” So […]
Irregular Payments
How much justification is there for certain payments, over and above commission? Are you within the law in terms of certain levies you charge your clients? Billy Seyffert, Head of Compliance and Legal […]
New FSB Broadcast
The FSB’s Insurance division did a telematic broadcast yesterday, providing an update on its activities, and sharing new developments with the industry. The Agenda reads as follows: Binder Agreements: Outsourcing & Intermediary services […]
Licencing Assistance
The application process has become quite a procedure, as has applying for changes to an existing licence. Moonstone has a vastly experienced team to help you overcome the hurdles and hassles normally associated […]
