SARS pays back R10bn, but some taxpayers’ refunds are being withheld

Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.

Study Material Update

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination […]

Audenberg Appeal against FAIS Ombud

The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the […]

SA drivers love their cars

A national client survey by Santam revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars. 64% “very or extremely […]

Proposed Amendments to Policyholder Protection Rules

The FSB published proposed amendments to the Policyholder Protection Rules (“PPRs”) made under the Long-term Insurance Act, 1998 and the Short-term Insurance, 1998, respectively, for public comment. The proposed amendments form part of […]

Record Keeping Relief?

Some product providers have created facilities for advisers to upload documents on-line. This is then stored in a secure environment by the provider. John, a Moonstone Protector client recently raised an interesting compliance […]

Prudential Authority a reality on 1 April 2018

A media release by the South African Reserve Bank on 1 March 2018 confirmed that the Prudential Authority (PA), one of the two pillars of the new architecture for the regulation of the financial sector, […]

Operational Ability under the new F & P

Back in the good old days, you needed an ashtray, a phone and a filing cabinet to be regarded as operationally okay. Some even went to such extremes as having a fax machine […]

To fee, or not to fee?

The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]

Are you running unnecessary risk?

Far too many FSP licences are suspended purely as a result of someone being, quite frankly, slapgat. Updating your contact details is not a favour you do the FSB – it is a […]

Class of Business Training Now Available

Registration for Class of Business training by Moonstone Business School of Excellence (MBSE) is now Open What and When? The Act stipulates that a FSP and representative must complete the class of business […]

The Nine Classes of Business

We received a substantial number of enquiries about this topic in response to articles published last week. It is not only important to those who are required to do Class of Business (CoB) […]

Proposals on loyalty benefits or bonuses

Cashback incentives are very often the topic of enquiries from readers who feel that they are at a disadvantage to mostly direct marketing companies who offer partial premium refunds to secure business. The […]

Financial Sector Regulation from Budget Speech

The scramble to be first with news of the budget reminds me of the old bull and his aspiring successor who stood on a hill observing the herd of cows grazing below. Youngster: […]

Transitional arrangements for Reps under supervision

Board Notice 194 (Determination of Fit and Proper Requirements) stipulates that a “…FSP and representative must, prior to the rendering of any financial service in respect of a particular financial product, complete the […]

The Essentials of CPD

If we had to draw up a hit parade of enquiries received from readers, debarments would be top of the pops, closely followed by CPD – continuous professional development. This is not surprising […]

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 […]