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Tag Archives | Update

report2019

Moonstone Regulatory Update Workshop 2020 – Save the date

Moonstone Compliance is excited to announce that registration for the popular annual regulatory update workshop will open soon. This year the annual event will go virtual and the webinar will be hosted on 29 September 2020. The agenda will, amongst other topics, include insightful discussions on the General Code of Conduct, the Cell Captive draft conduct standard […]

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surveyresults

Business Interruption Claims Update – Old Mutual to offer settlement option

A Fin24 report notes that Old Mutual has joined the other major insurers who opted to either provide interim financial relief or come to a settlement agreement with their business interruption customers. The insurer estimated that about R650m for financial settlements and business interruption claims have already been submitted by its clients. However, financial settlements […]

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virus

COVID-19: Moonstone’s business update

As a result of the President’s announcement of a total lockdown, our Dedicated Response team has implemented more aggressive components of our Business Continuity Plan to further assist in the containment of the coronavirus in the interest of the country, our clients and staff.. We are confident in our ability to continue to provide our […]

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financess

Latest RDR update on two-tier adviser model – What’s in a name?

The FSCA recently published various RDR (Retail Distribution Review) discussion documents for comment. One of the documents provides specific updates and requests input on several aspects of the adviser categorisation model. Purpose of categorisation and proposed model In the initial RDR paper the FSCA explained the purpose as: The financial services customer should be in […]

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insurance

Collection of insurance premiums – Update on regulatory framework

Just before year end, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 2 of 2018: Update on the future of the premium collection regulatory framework under the Short- and Long-term Insurance Acts. The FSCA’s communication highlighted the various regulatory interventions being considered to address specific risks inherent in third party premium collection business models. […]

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moonstone-RDR-Update

FICA Update June 2018

If there was ever any doubt about just how serious the world is about money laundering and related crimes, this was dispelled by the recent example of Australia’s Commonwealth Bank agreeing to a US$530 million fine over money-laundering breaches. “While not deliberate, we fully appreciate the seriousness of the mistakes we made,” said CBA chief […]

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update

FSB Regulatory Exam Update

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular 1/2018 confirms a number of matters we discussed since the publication of the new Fit and Proper Determination, which comes into effect […]

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moonstone-RDR-Update

FSB RDR Update November 2017

At the end of last year’s Insurance update from the FSB, Jonathan Dixon said: “We had better fasten our safety belts – this is going to be rough year”, or words to that effect. Having read all eleven presentations for this year’s road show this weekend, it might be advisable to strap on a parachute […]

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update

Herman Pretorius RVAF Update

A recent article in “Die Burger” reports on the first liquidation and distribution accounts in respect of the Herman Pretorius/Relative Value Arbitrage Fund matter. In total, the RVAF handled investments totalling R2.2 billion, and there are 2 862 claimants. It appears that investors will only receive 5 cents for R1 invested. The total sum available from funds recovered […]

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implementation

FIC Amendment Act Implementation Update

The Financial Intelligence Centre (FIC) Act has been amended with the first set of provisions coming into effect on 13 June 2017. These provisions do not have any effect on accountable institutions. The next set of provisions will come into operation on 2 October 2017 and relate to: Adoption of a risk-based approach to ensure that institutions understand money […]

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