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Tag Archives | Financial Soundness

finance

Fees Due and Financial Soundness Calculation

Ken’s question Thank you for the article regarding financial soundness. Are fees/commissions due, but not yet received, construed as an asset? As you know, most institutions pay during the month following the receipt and final processing of new business. In our accounting system, we create an invoice in respect of the specific institution/ transaction immediately […]

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finance

Financial Soundness – at all times

At a recent meeting between senior officials of the FAIS Division of the FSB and a committee of industry members, Ms Lorraine van Deventer expressed the concern that many FSPs still do not fully appreciate the financial soundness requirements that were imposed in the Fit and Proper Requirements contained in Board Notice 106 of 2008. In […]

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