Leads Provision and the FAIS Act
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. […]
FSP
High Court orders insurer to reconsider unfair debarment carried out in 2016
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Read moreElectronic updating of Representative Registers
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. […]
On the Regulatory Front
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 […]
Proposed Changes to Liquid Assets Definition
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 […]
FSP Fined for Promoting Unregistered Foreign CIS
The Registrar of Collective Investment Schemes (“the Registrar”) referred a suspected contravention of Section 65(3) of the Collective Investment Schemes Act, No 45 of 2002 (CISCA) to the enforcement Committee. It was alleged […]
Blue Financial Services Loses Licence
A recent article in Business Day shed light on why the FSB suspended the licence of Blue Financial Services, a player in the micro-lending business. “The FSB has suspended the licence as a […]
Do not wait for POPI
Even a genuine mistake can be costly these days. A FSP recently settled for a fine of R50 000 for not obtaining proper authorisation before disclosing confidential client information to a third party. […]
Moonstone Protector Now Online
We are excited to announce the launch of the new Protector Online System. Moonstone Protector is a support service for one-person FSPs who are not required to appoint a compliance officer, but require […]
RE Exams Statistics
We provide a link below for those who wish to study the latest statistics in more detail. We list some of the more interesting facts emerging from the figures. These figures relate to […]
FAIS Supervision Annual Report
The FAIS Supervision Department of the FSB supervises financial services providers (FSPs) in terms of a risk-based approach. In response to the changing face of the regulatory landscape, international trends and outcomes of […]
Compliance Officer Presentation
The FSB’s presentation for compliance officers provided a lot of practical insight and advice. Whether you are an external or internal CO, there is a lot of food for thought and consideration on […]
Compliance Consolidation
The introduction of the FAIS Act brought a number of additional layers of cost which providers of financial services had to absorb. The majority of the tentacles of this octopus have compliance written […]
TCF Guide for small FSPs and IFAs
Treating Customers Fairly will impact on the whole industry. To date, most of the communication was aimed at corporates and industry bodies, with little information flowing through to smaller FSPs and independent financial […]
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 […]
PI Increase Shock
At the telematic broadcast, a FSP shared his rude awakening when he received his annual review and premium increase from his PI cover provider. There was a substantial increase in the premium, far […]
