Victims of the Classic Financial Services scheme express dismay that director Cobus Geldenhuis remains at large amid ongoing accusations of defrauding innocent investors.
Read moreThe head of Britain’s recently formed Financial Conduct Authority (FCA) was accused of backtracking on a promise to introduce “proportionate” red-tape on insurance brokers by the British Insurance Brokers Association (Biba), according to […]
The 2014 Budget announcement contained more detailed information on where we currently are on the road to extensive reforms of the retirement industry. A media release by National Treasury on 14 March 2014 […]
There are a wide variety of compliance service providers in the financial services industry, which makes it difficult to compare apples with apples. We list below the services offered by Moonstone, and a […]
This topic is covered in FAIS Newsletter 16, published on 13 December 2013. It is of particular importance to FSPs who tend to think that complying with the FAIS Act and the General […]
Prospective employers need to verify information supplied by applicants. There are various sources where such information can be obtained. FAIS related credits and queries Please visit the INSETA website on www.inseta.org.za. Click on […]
The FAIS Supervision Department of the FSB follows a risk-based approach in supervising financial services providers (FSPs). Licenced entities are categorised in five sectors, ranging from high impact to small FSPs, with the […]
The definition of an intermediary service was the subject of a number of discussions and reviews, including an article published by the FSB to provide clarity on what actually constitutes such a service. […]
FSBA financial services provider (FSP) must in terms of Condition 3 of its licence, inform the Registrar of Financial Services Providers (Registrar) within 15 days after any change to its register of representatives. […]
We predicted earlier that 2014 would be a bit of a water-treading year in so far as new regulations and changes relating to financial advice and intermediary services are concerned. This was based […]
Moonstone is a co-sponsor of this seminar which is a must-attend event for all key individuals, representatives and compliance officers. Anton Swanepoel and other leading industry experts will discuss the year ahead from […]
The Registrar of Collective Investment Schemes (“the Registrar”) referred a suspected contravention of Section 65(3) of the Collective Investment Schemes Act, No 45 of 2002 (CISCA) to the enforcement Committee. It was alleged […]
The Taxation Laws Amendment Act No. 31 of 2013, published in Government Gazette No. 37158 on 12 December 2013, contains very important changes to the tax treatment of contributions to retirement funding. Hettie […]
The introduction of the FAIS Act brought with it a new set of regulatory requirements, including those pertaining to industry incumbents being fit and proper. As these conditions were refined, it became evident […]
The Taxation Laws Amendment Act No. 31 of 2013 was published in Government Gazette No. 37158 on 12 December 2013. A reader sent me a copy of Momentum’s Legal Update No. 3 of […]
Insurers and consumers are now entitled to appeal against final rulings by the ST Ombud. This applies to complaints received on or after 1 December 2013. Any party affected by any formal ruling […]
The latest determination by the FAIS Ombud provides clear proof that non-compliance with one’s obligations under the FAIS Act and the General Code of Conduct can be a very costly affair. The information […]
