The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.
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In the financial services industry in South Africa, the only certainty is change. A number of regulatory changes with significant impact on the industry are in the pipeline. Moonstone Compliance is pleased to […]
The necessity for a process to ensure that those who fall foul of the fit and proper requirements are not allowed to practice was never in question. In particular, the bad apples need […]
Oliver Bekker, brand ambassador for Moonstone and Suitebox, saw a lifetime dream come true when he qualified for the 117th US Open golf tournament at the Erin Hills course in Wisconsin which starts […]
The latest hearings schedule of the FSB Appeal board contains details of three appeals against decisions made by the FAIS Ombud in 2016 which are to be heard in June 2017. The Wallace determination […]
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, […]
The future is not out there, somewhere in the, um, future. It is here. A recent posting by Forbes of a blog by Bain Insights contains the following examples of where we are […]
An amaBhungane report states that the Financial Services Board (FSB) is probing Net 1 over allegations that it abuses social grant beneficiaries and breaks financial laws. Legalbrief Today reports that Net 1, the US-listed parent […]
The demarcation debate started when the Council for Medical Schemes stated that the so called “hospital plan” insurance products contravened the Medical Schemes Act. What is a medical scheme? Medical schemes are non-profit […]
In an informative assessment of the Financial Sector Regulation Bill, Alan Holton, an associate of Moonstone Compliance, wrote: “The Bill makes provision for the Prudential Authority and Financial Sector Conduct Authority to create […]
The basis of mutual trust, which is a cardinal principle of insurance and assurance, also applied to the relationship between financial services product providers and the regulatory authorities up to the end of […]
In search of the modern investments’ Holy Grail, better known as the calculation of causal event charges, we came across an interesting new perspective on the matter. A broker that I spoke to […]
The Board was recently tasked with reviewing a decision by the Registrar to debar Ms LA Teixeira for 5 years and to withdraw the authorisation of her business. The grounds for the Registrar’s […]
This complaint was originally dismissed by the FAIS Ombud on the basis that there was no reasonable prospect of success. The client reverted to the Board of Appeal who ruled that the Ombud’s […]
A recent Appeal Board case underlines the importance of full and frank disclosure during the licence application process. In the original determination, the FSP and its two members, Ms S and Ms C […]
An article in FAIS Newsletter 20 titled Bulk transfers by FSPs and Insurers contains a section under the sub-heading: Protection of Personal Information Act: Furthermore the FSPs are required to comply with Protection […]
Most financial advisers do not have a wealth of sympathy with clients who allow greed to cloud their judgment when a scheme which sounds “too good to be true” becomes available. In the […]
