The Enforcement Committee of the Financial Services Board levied a penalty of R100 000 against a short-term insurer, following a referral by the Registrar of Short-term Insurance stemming from a contravention of section 44 […]
Often, candidates, despite having paid within 24 hours of registration, receive a notification advising that their examination was temporarily cancelled due to failure of payment. The important word here is TEMPORARY. Our system […]
There is a tendency to see legislation that regulates financial services as operating differently from other laws. While the processes may sometimes differ, the same principles apply. This became evident in a recent […]
Information Letter 2 of 2014, issued on 29 August, provides clear guidelines on what co-administration agreements should contain, and what not. The Registrar of Long-term Insurance is concerned that certain existing agreements do […]
In the space of the last eight weeks we saw seven determinations against one FSP, and it is likely that there is more to come. The total in fines meted out by the […]
An important part of your preparation for writing the regulatory examinations concerns your mental approach. I came across an interview in Moneyweb with Paddy Upton, who plays an important role in the preparation […]
The headache around the lack of proper procedure by FSPs when debarring representatives appears to be continuing, despite clear guidelines from the Regulator. In the FSB’s first quarterly bulletin of 2014, the problem […]
This line from “The sound of music” applies equally well to those who have written the level 1 REs on several occasions and failed. It may be wise to stand back, review what you […]
The FSB provided the following guidelines for RE candidates who wish to appeal: Candidates have the right to lodge an appeal in respect of the regulatory examination. Appeals are directed at the content […]
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 […]
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 latest newsletter from the Long-term Ombud contains two cases where claims were repudiated as a result of a health condition manifesting between the date of application and acceptance of the risk. Non-disclosure […]
The updated Juta Pocket Statutes edition of the FAIS Act is now available. LexisNexis also updated their Legislation Handbook and Preparation Guide for the RE 1 and RE5 exams. Queries about the latter […]
All those who are required to successfully complete the level 1 Regulatory Examinations by the end of June should note that the final dates for registration are: • Permanent Centres: 13 June • […]
The FSB published guides for small FSPs and asset managers on the practical impact of treating customers fairly (TCF) on their businesses. The harsh reality of TCF is, of course, that you could […]
Alan Holton, an independent compliance practitioner and associate of Moonstone, recently shared the following information regarding amendments to the Financial Services Laws General Amendment Act of 2013. Financial Services Board Act 1990 and […]
Just a gentle reminder to all those who are required to successfully complete the level 1 Regulatory Examinations by the end of June that the final dates for registration are as follows: Permanent […]
