Tribunal draws a hard line on undisclosed client benefits
The decision turned on the adviser’s acceptance of personal benefits from a client, the lack of proper compliance disclosure, and the higher standard expected of a KI.
#keyindividual
FAIS Ombud proposes no levy increase in 2026/27
Advocate John Simpson publishes his Office’s draft budget for public comment.
Lack of full and frank disclosure sinks FSP’s licence application
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
Common pitfalls in succession planning for small FSPs
The assumption that heirs will smoothly take over a small FSP is often unrealistic. KI requirements, leadership gaps, and legal delays can threaten business continuity.
Online trader fined R1 million and debarred for 12 years
The Authority’s investigation found that most of Lehumo Securities’ client funds were not invested, and returns were paid out from the funds collected.
FAIS Ombud proposes increasing the KI and representative levy
FSPs will have to budget for an additional R32 per key individual or representative in the 2025/26 financial year.
Final opportunity: access MBSE’s CPD courses instantly as cycle nears its end
MBSE will unveil its updated courses for the new CPD cycle on 1 June, giving a head start for those eager to avoid the last-minute rush.
Make your mark: MBSE can help with last-minute CPD rush on 29 May
Moonstone Business School of Excellence’s CPD team will be available to assist clients with enquiries on Election Day.
Countdown to CPD deadline: MBSE has essential courses for FSPs and key individuals
Moonstone Business School of Excellence offers more than 80 courses with flexible e-learning options, so you can meet your CPD requirements easily.
Last-minute CPD rush? Moonstone Business School of Excellence has the solution
MBSE’s CPD courses provide flexible e-learning opportunities that can be conveniently accessed and completed on various devices.
Deadline looms: MBSE’s CPD courses offer last-minute solutions for professionals
Moonstone Business School of Excellence’s CPD courses offer flexible e-learning options that can be completed on various devices, anytime and anywhere.
Earn CPD points while getting up to speed on POPIA and FICA
Moonstone Business School of Excellence equips financial professionals with CPD solutions for regulatory compliance.
Deadline alert: make the most of public holidays to meet CPD requirements
MBSE’s CPD subscription packages are designed so that FSPs and their representatives can obtain their CPD hours.
First wave of crypto asset service provider licences nears approval
The FSCA also confirms that one FSP licence has been provisionally suspended as part of its investigation into advisers who may have referred clients to BHI Trust.
KI’s enquiries could have prevented losses suffered by Stringfellow clients, says FST
‘A key individual is not only responsible to oversee the categories of financial services for which he is licensed, but he bears an oversight role in relation to the FSP generally.’
