#FaisAct – Page 5 – Moonstone Information Refinery

Video interview: New mutual insurer enters the market

The adviser said she shared the client information to prove her remuneration when applying for a job with a competitor.

FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.

The FSCA will increase the fees it charges for various supervisory activities by 6% from tomorrow, 1 October.

The representative’s conduct of completing contracts as new instead of replacements was not motivated by dishonesty, the FST says.

This video explains the essential features of Moonstone Business School of Excellence’s new comprehensive RE 5 training.

MBSE’s RE 5 training is a comprehensive course designed to enhance your understanding of key regulatory frameworks and real-world applications.

The judgment clarifies aspects of the FAIS Act, particularly regarding the nature of ‘advice’ and ‘intermediary services’.

The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.

The Authority also agrees to reconsider its decisions to withdraw the licences of four entities.

The FST finds that the FSP’s attempt to use debarment as a tool to resolve an employment dispute is a misuse of the FAIS Act’s provisions.

Decision set aside, although the FSP was correct in finding that the representative contravened the General Code of Conduct.

The adviser brought an application for the FAIS Ombud’s determination and the Tribunal chairperson’s decision to be reviewed in terms of PAJA.

The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.

Tribunal highlights the distinction between the processes that fall under the Labour Relations Act and the FAIS Act.

Not meeting the operational ability and competency requirements are the main reasons the Authority rejected licence applications.

FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.

Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.