FSB Media Release on Sharemax
“The Financial Services Board (FSB) commented on a circular dated 6 August 2013, issued by Frontier Asset Management to debenture holders and shareholders who have acquired their rights in terms of Schemes of […]
FSB
Cybersecurity Joint Standard: Authorities announce likely commencement date
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
Read moreEnforcement Committee Sanctions
We recently approached the FSB for clarity on how, and by whom, the quantum of an Enforcement Committee penalty is determined, and what options respondents, who elect not to enter into a settlement […]
FSB in the Box
I came across a most interesting document on the FSB website. Allan Greenblo, Editorial Director of Today’s Trustee, conducted an interview with Mr Dube Tshidi (pictured above), executive officer of the FSB. One […]
FSB and Ombud Levies
All registered FSPs should, by now, have received their invoices in respect of the FSB and FAIS Ombud levies. These levies are for the period 1 April 2013 to 31 March 2014. If […]
New FSB Website
Problems that were experienced in accessing information on the Regulator’s website appear to have been addressed in the new version. The old one was essentially user-friendly to Internet Explorer users only. The website […]
FSB Telematics Broadcast 3 October 2013
The agenda of the 3rd of October’s broadcast is very similar to the workshop intended for licence category II and IIA FSPs, and includes the same speakers. 3 October 2013 – Satellite workshop […]
FSB Warning Against Unlicensed Entities
The FSB urgently called on the public to refrain from conducting business with the following entities: Ledimar Ledimar Financial Services (Pty) Ltd; Ledimar Stock Trading (Pty) Ltd; and Ledimar Investment Holdings CC. Their […]
Funeral Industry Arrangements Under Review
Co-administration agreements (also referred to as profit-sharing or 80/20 agreements) between insurers and funeral parlours or funeral administrators are under the magnifying glass of the FSB. This is very much in line with […]
Debarments a Sorry State of Affairs
“The volumes of cases for debarments are mind boggling as they paint a picture of an industry replete with misfits and incompetent representatives. Simply put, the public is at risk.” Harsh words from […]
FSB Internet Technical Specifications
If you experience problems accessing information from the FSB website, please read the information below. This is copied directly from the Regulator’s website. Internet Browsers The FSB developed this website to work correctly […]
Telematic Broadcasts Keeping you Updated
These communication sessions offer the industry an opportunity to communicate directly with the Regulator on practical matters. When I looked at the registration page this morning, there were still a number of empty […]
FSB Proposes Amendments to 3 Board Notices
In a notice published last week, the FSB requests input from the industry on proposed amendments to three Board Notices: The 2008 Determination of Fit and Proper Requirements The 2008 Determination of Qualifications […]
FSB Enforcement Committee
Other than what the name suggests, this is not the kind of entity that will pitch up in the middle of the night with a baseball bat to test your reflexes by beating […]
Debarment under the Loop
A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]
Enforcement Committee Fines
We received two media releases from the FSB this week. In the first, The Lawyers Voice (Pty) Limited (“Lawyers Voice”) marketed and sold three different insurance policies which were not underwritten by a […]
New Appointments at FSB
The Minister of Finance approved the following appointments, as recommended by the FSB: Ms Caroline da Silva as Deputy Executive Officer for Financial Advisory and Intermediaries Services, replacing Mr Gerry Anderson, Deputy Executive […]
