Leads Provision and the FAIS Act
The definition of an intermediary service was the subject of a number of discussions and reviews, including an article published by the FSB to provide clarity on what actually constitutes such a service. […]
FAIS
Taxpayer’s (legitimate) refund stuck in limbo after profile hacked
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Read moreTreating Customers Fairly in 2014 and Beyond
We predicted earlier that 2014 would be a bit of a water-treading year in so far as new regulations and changes relating to financial advice and intermediary services are concerned. This was based […]
On the Regulatory Front
Moonstone is a co-sponsor of this seminar which is a must-attend event for all key individuals, representatives and compliance officers. Anton Swanepoel and other leading industry experts will discuss the year ahead from […]
Your Voice: Healthcare Distribution Remuneration
The long-standing battle by the Council for Medical Schemes to have gap cover and hospital plans clearly demarcated as insurance, and not medical products, is indicative of its determination to ensure that clients […]
Important Qualification Requirements
The regulatory examinations took precedence for most people in the industry, and may have averted the focus from the qualification requirement, particularly in the case of representatives working under supervision. Industry demands for […]
Training News
A number of important documents were placed on the FSB website on Friday. Two of these are of particular importance to those involved in training, as well as those who are subject to […]
Penalties for late submissions
The FSB’s FAIS Newsletter 16 was published on 13 December 2013. The second article states that a decision was taken to implement punitive measures available to the Regulator when FSPs fail to submit […]
Taking Stock
Reaction to the recent introduction of the E-Toll system in Gauteng reminded me of a similar sense of indignation a few years ago when the regulatory examinations were announced. Many people in the […]
FSB Compliance Department Annual Report
The FAIS Compliance Department’s goal is tasked with ensuring that all FSPs are held to a high degree of compliance with the FAIS Act. The Department is also committed to instil the goals […]
Moonstone’s Compliance Report Workshop
All Category I FSPs who are not obliged to appoint a compliance officer are required to submit the prescribed compliance report for 2013 to the FSB by 28 February 2014. Our popular workshops […]
Moonstone Protector Now Online
We are excited to announce the launch of the new Protector Online System. Moonstone Protector is a support service for one-person FSPs who are not required to appoint a compliance officer, but require […]
FAIS Supervision Annual Report
The FAIS Supervision Department of the FSB supervises financial services providers (FSPs) in terms of a risk-based approach. In response to the changing face of the regulatory landscape, international trends and outcomes of […]
Fees for Service Redefined
The Review of Retail Distribution has certainly taken an interesting turn from where we thought the Regulator was heading with this very important issue a year ago. The term, “Fees for Service”, implied […]
Compliance Consolidation
The introduction of the FAIS Act brought a number of additional layers of cost which providers of financial services had to absorb. The majority of the tentacles of this octopus have compliance written […]
FSB: Debarment Guidelines
At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key […]
New Debarment Notification Document
FAIS Circular 7, issued by the FSB this week, contains details of a new debarment notification document which comes into effect tomorrow, 1 November 2013. The background to this new form was discussed […]
