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cyber-securitys

Cyber-security – Guidelines for working from home

On Monday, Momentum Metropolitan Holdings reported that it had been the victim of a cyberattack, with criminals able to access sensitive data on its systems. In a statement to shareholders, the financial services group said a “third party unlawfully accessed a limited portion of data of a subsidiary of the group”. The latest hack comes […]

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laws

Disclosure guidelines – Code of Conduct principles revisited

A recent Financial Services Tribunal case to reconsider the ruling of the Ombud for Financial Services Providers, once again highlighted important provisions of the Code of Conduct for Financial Services Providers. The Tribunal specifically investigated whether the Ombud had made a mistake to conclude that the applicant failed to take reasonable steps to ensure that […]

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degree

Considering doing a qualification? – Some guidelines on the Higher Certificate in Wealth Management

With qualifications being a definite “must” for advisors in most categories, it is important to know which one is the right choice. The FSCA recently released FAIS Notice 36 of 2019, providing updated lists of qualifications for FSPs, KIs and Representatives in different categories. Moonstone Business School’s Higher Certificate in Wealth Management (NQF5) appears on […]

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guidelines

F & P Guidelines for appointment of representatives

The new Fit and Proper regulations provide a wide range of prescriptions which FSPs should consider when appointing new representatives. It also has a potential bearing on current appointees who may be unrehabilitated insolvents. Section 40 states: (1) An FSP must ensure that where it appoints a person as a representative – (a) the person […]

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guidelines

Debarment Guidelines Withdrawn

The document titled “Guideline on the Determination of Reappointment of Debarred Representatives”, published on 13 July 2011, was withdrawn in a notice published on Friday, 20 October 2017. No reason for the withdrawal was given, nor was any indication provided as to whether it would be replaced by an amended guideline. The debarment process is arguably one of the […]

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guidelines

CIS Portfolio Performance Guidelines

CIS Information Circular 30, published on 12 July 2017, contains guidelines from the Registrar regarding the publishing and disclosure of CIS portfolio performance. The Registrar has noted that some managers of Collective Schemes Investments are publishing and disclosing performance of a portfolio class or the highest fee class instead of the performance of the overall portfolio. The […]

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guidelines

FIC Guidelines

The Financial Intelligence Centre published PCC36 which provides clarity on the obligations of accountable institutions and other persons assisting clients in making use of the 2016 Special Voluntary Disclosure Programme (2016 SVDP) which was announced by the Minister of Finance during the 2016 Budget Speech. Accountable institutions assisting clients in making use of the 2016 […]

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FSB: Debarment Guidelines

At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key individual debars a representative (a section 14(1) debarment). The article contains a link to the actual document. The FSB has now published […]

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