We often receive queries from employers regarding the validity of RE certificates produced by prospective applicants. This is indeed wise, as we are aware of instances where people fraudulently replicate documents by means […]
The FSB and FAIS Ombud levies are calculated on the status of your FSP as at 31 August every year. Any changes to the rep register must be conveyed to the FSB within 15 days. […]
In the space of the last eight weeks we saw seven determinations against one FSP, and it is likely that there is more to come. The total in fines meted out by the […]
The headache around the lack of proper procedure by FSPs when debarring representatives appears to be continuing, despite clear guidelines from the Regulator. In the FSB’s first quarterly bulletin of 2014, the problem […]
On Monday, we briefly outlined the background to the first complaint against an advisor who invested client funds in Herman Pretorius’s Relative Value Arbitrage Fund. In his response to the complaint, the advisor […]
I was recently approached by an ex key individual who was debarred by the FSB in response to information supplied by the bank who previously employed him. The reason for the debarment was […]
Certain FSPs received a request from the FSB for additional information regarding their financial statements which, for most FSPs, are due by the end of this month. Category I FSPs who are registered […]
On Tuesday we discussed what happens when material changes occur in a client’s health between the time of applying for life cover and acceptance of the risk by the insurer. My colleague Julian […]
All those who are required to successfully complete the level 1 Regulatory Examinations by the end of June should note that the final dates for registration are: • Permanent Centres: 13 June • […]
The FSB published guides for small FSPs and asset managers on the practical impact of treating customers fairly (TCF) on their businesses. The harsh reality of TCF is, of course, that you could […]
FAIS Circular 4 of 2014 will be of great value to regulatory exam (RE) candidates who need to take into account recent legislative changes. It is of equal importance to all FSPs who […]
This topic is covered in FAIS Newsletter 16, published on 13 December 2013. It is of particular importance to FSPs who tend to think that complying with the FAIS Act and the General […]
The FAIS Supervision Department of the FSB follows a risk-based approach in supervising financial services providers (FSPs). Licenced entities are categorised in five sectors, ranging from high impact to small FSPs, with the […]
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. […]
FSBA financial services provider (FSP) must in terms of Condition 3 of its licence, inform the Registrar of Financial Services Providers (Registrar) within 15 days after any change to its register of representatives. […]
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 […]
Financial Services Providers who receive client funds are required to conform to very specific requirements in terms of liquidity, as set out in the Determination of Fit and Proper Requirements. In terms of […]
