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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
