Regulatory Exam Bodies may not endorse Training Services
Regulatory Examination bodies such as Moonstone operate in terms of a mandate from the FSB. In a sense, we represent the Regulator, which means that we are bound by exactly the rules and […]
Author: Paul Kruger
Risk Involved in Short-term Home Rentals
The latest Mutual and Federal newsletter contains an article by SA Property News of interest to brokers and their clients who make use of facilities like AirB&B to rent out their houses and […]
Cybercrime – coming to a PC near you soon
For all you know, (or may not know), it may already be there. Our staff was recently addressed by cyber security specialists on the current status of cybercrime in South Africa. This is […]
Raging Bull Awards
Congratulations to all recipients of these prestigious awards from all of us at Moonstone. It is pleasing to note that the majority of these winners use our platforms to share information with the […]
Gap Filling for Tied Agents
In case you thought this may be a rather painful dissertation on what a dentist does, think again. In the Retail Distribution Review, the Regulator aims to provide for situations where tied agents, […]
Adviser and Advice Differentiation
The December 2016 Retail Distribution Review update provides clarity on matters which appeared slightly confusing in earlier proposals. The Regulator did away with the “multi-tied” category of adviser – in future, you are […]
Robo-advice: Friend or Foe?
The increasingly important role of technology in assisting survival and growth in the industry necessitates more attention than most of us has hitherto given to this aspect. The one phrase most of us […]
New advertising standards for investment policies only
Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards specifically applicable to investment business. No projected benefits (including but not limited to maturity, income, death, disability or (partial) […]
New advertising standards
Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards. Some of the more interesting ones, which relate to enquiries we often receive from readers, are included below. Unwanted […]
FAIS Ombud to Challenge Appeal Board Rulings
According to an article published in Personal Finance on Saturday, the FAIS Ombud intends appealing against certain findings by the FSB Appeal Board. “Late last year, the Appeal Board of the financial services […]
Virtual Meeting Rooms
The Oosthuysen determination, published in December 2016, and discussed above, yet again highlights the importance of accurate record keeping, and the need to consider using technology to cover our backs from clients suffering from […]
Fee Adjustments
Bad news and good news – Both the FSB and the Council for Medical Schemes have published fee increases. FSB Fees The previous notice was published on 24 March 2015, and signed by the then […]
Slim vang sy baas
This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were […]
Remuneration for Investment Product Advice
This is possibly the biggest bone of contention for advisers in the investment space. In the FSB’s RDR Update published in December 2016, the following information was conveyed: Commission on investment products As indicated […]
Investment Failure was not Reasonably Foreseeable
The FSB’s Appeal Board came to an interesting decision in the last case published in 2016. This was an appeal against two previous decisions against a FSP by the FAIS Ombud in a […]
DA Reacts to Demarcation Regulations
In a media release on the matter, the Democratic Alliance states: This poorly conceived decision demonstrates just how ideologically constrained the Ministers have become when it comes to ensuring that poor South Africans […]
He said She said…
In December, the FAIS Ombud released no less than eight determinations. In a strange turn of events, one case was actually referred to the courts as the Ombud was unable to determine whether […]
