What you should know about the FAIS competence requirements
The first in a series of articles that explains the competence requirements for people who want to enter the financial services industry.
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
Read moreThe first in a series of articles that explains the competence requirements for people who want to enter the financial services industry.
2023 top achiever Devon Lumley shares insights into online learning, self-discipline, and goal setting to maximise students’ Moonstone Business School of Excellence experience.
The FSCA’s investigation into FSPs who might have suggested the trust to their clients aims to assess whether these providers took into account suitability and risk factors.
The FSCA has confirmed that the provision for a pro rata reduction in CPD hours as a result of parental leave, or because of illness or disability, applies only to an FSP’s representatives, […]
Two recent tribunal cases make for quite interesting reading. No dishonest intent In the Mokotedi decision, the employer, a major bank, debarred a financial adviser on the grounds that he lacked the required […]
Although many might feel that the Sharemax debacle is old hat, and that FSPs could not have foreseen its implosion, it still serves the purpose of reminding us of the basics of compliance […]
The 2003 version of the General Code of Conduct (GCoC) for authorised financial services providers and representatives captured the handling of complaints in three pages, only focussing on basic principles and procedures. The […]
On 19 June 2020 the Minister of Finance published Government Notice 684 in GG 43347 which contained a number of proposed amendments to the Schedules to Financial Intelligence Centre Act. Interestingly, short-term (non-life) insurers have […]
On 19 June 2020 the Minister of Finance published Government Notice 684 in GG 43347 which contained a number of proposed amendments to the Schedules to Financial Intelligence Centre Act. Interestingly, short-term (non-life) insurers have […]
The Financial Intelligence Centre Act 2002, as amended (FIC Act) places an obligation on all accountable institutions (AIs) to perform CDD on prospective clients entering into a single transaction with the AI, or […]
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
“The Office of the FAIS Ombud is committed to resolving complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. In this vain, the […]
“Unless debarment procedures are fair, reasonable and lawful, decisions taken to debar persons can be, and will be, overturned on technical grounds following an application to the Tribunal to reconsider any such decision”, […]
“The customer is always right” – a slogan that encourages especially service staff to give a high priority to customer satisfaction. In today’s testing economic times, and yesterday’s budget speech is testimony to […]
Over the last few months we have seen an increase in debarment cases placed before the Financial Services Tribunal for reconsideration. Why? Has there been an increase in debarments? Has many of these […]
We are aware that there is fair amount of concern in the industry about where the regulator is heading in this regard. The following are some of the points for discussion at the […]