Tag Archives | Registrar


Prohibition of Inducement and Acceptance of Gratification

The Registrar of Pension Funds published, for comment, a draft Directive to determine conditions in respect of inducements and acceptance of gratification to ensure compliance with and to prevent contraventions of the objectives of a board as determined in terms of section 7C of the Pension Funds Act. The purpose of the Directive is to […]

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Debarment Overturned

Appeal Board and powers of the Registrar to debar

The decision in the Hlumbane case by the Appeal Board of the FSB provides very interesting information about the Board’s powers in terms of decisions made by the Registrar of Financial Services Providers, particularly its discretionary powers. The appeal stems from a decision by the Registrar to debar the appellant for three years. The appellant […]

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The End of Sign-on Bonuses in Sight

The whole messy business of institutionalised churning reminds me of the wise words of George Bernard Shaw: “A government that robs Peter to pay Paul can always depend on the support of Paul.” We have often in the past questioned the practice of incentive-driven churning. The article titled Incentive-Driven Miss-selling, published in June this year, stated: […]

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Electronic 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. The FSB’s FAIS Circular 2 of 2014 contains guidelines for FSPs concerning the upload of representative information. It provides specific guidelines applicable […]

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Correction to Moonstone Article on Licensing

We were approached by the Registrar regarding some of the information contained in an article titled “FSB Licensing – Part I”. The FSB pointed out certain statements in the article which are incorrect, and can cause confusion in the industry. We are therefore retracting the article, and would like to clarify the following matters. 1. […]

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