How the process to make withdrawals from the savings ‘pot’ will work

Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.

RE Exams Pass Rates

Seldom has one seen such disparate views on a matter of national interest as those expressed on the 2013 matric results. While the government sang its own praises based on statistical improvements, concerns […]

On-Line Access to RE Status

In December, the FSB announced an on-line facility which allows FSPs to verify the RE status of Key individuals and Representatives. The circular provides step-by-step guidelines on how to access the information pertaining […]

Penalties for late submissions

The FSB’s FAIS Newsletter 16 was published on 13 December 2013. The second article states that a decision was taken to implement punitive measures available to the Regulator when FSPs fail to submit […]

Yes Nine a No-No

One of last season’s new rugby rules was recently scrapped, partly as a result of the potential danger to the offensive team’s number 2. Thanks to Alex Bax for his valued input on […]

Implementing the Twin Peaks model of Financial Regulation

The Financial Sector Regulation Bill, referred to in the article above, provides important information on the way forward as far as regulating the financial world is concerned. The shift from the current status […]

FSB Renamed

The Financial Sector Regulation Bill, published on 11 December 2013, indicates a new name for the Financial Services Board. The twin peaks regulatory framework will provide a comprehensive framework for regulating the financial […]

Resurgent Aussies Rejoice

The Sydney Morning Herald is awash with articles on the rejuvenated Australian cricket side’s whitewash of England in the Ashes, and rightly so. A lot of the credit is heaped on Darren Lehman, […]

Taking Stock

Reaction to the recent introduction of the E-Toll system in Gauteng reminded me of a similar sense of indignation a few years ago when the regulatory examinations were announced. Many people in the […]

Tata Madiba

Die laaste groet van ‘n pa is tegelyk ‘n familie en ‘n persoonlike saak. Saam met die gesin kom gedeelde verlies, maar dis in die binne-hart waar die groot seer lê. Reguit praat […]

FSB Compliance Department Annual Report

The FAIS Compliance Department’s goal is tasked with ensuring that all FSPs are held to a high degree of compliance with the FAIS Act. The Department is also committed to instil the goals […]

Moonstone’s Compliance Report Workshop

All Category I FSPs who are not obliged to appoint a compliance officer are required to submit the prescribed compliance report for 2013 to the FSB by 28 February 2014. Our popular workshops […]

Moonstone Protector Now Online

We are excited to announce the launch of the new Protector Online System. Moonstone Protector is a support service for one-person FSPs who are not required to appoint a compliance officer, but require […]

RE Exams Statistics

We provide a link below for those who wish to study the latest statistics in more detail. We list some of the more interesting facts emerging from the figures. These figures relate to […]

FAIS Supervision Annual Report

The FAIS Supervision Department of the FSB supervises financial services providers (FSPs) in terms of a risk-based approach. In response to the changing face of the regulatory landscape, international trends and outcomes of […]

Charges in Respect of Investment Policies

The Long-term Ombud recently published two examples of excessive charges on endowment policies which confirmed the view that a revision of product provider costs is possibly a bigger problem than advisor fees. This […]

Huge Fines after Commission Overpayments

Sanlam Developing Markets Limited and Channel Life Limited were fined R2 million and R1 million respectively for inadvertently contravening the regulations regarding maximum commissions payable. During the period 1 November 2008 to 21 […]