The following topics will be discussed in more detail:
The impact of the Financial Sector Regulation Bill on your business
The FSR (Twin Peaks) Bill will change your regulatory landscape and your Regulator. It will change the roles of your Directors, Managers, Representatives and Compliance Officers. We will provide you with a high level overview of the most significant changes.
Retail Distribution Review Update and Timelines
The RDR remains the most talked about topic in the industry. We will provide you with the most up to date developments from the regulator, discuss some of the impacts and provide you with the intended timelines for implementation to enable you to plan accordingly.
Other Insurance Regulatory Updates
If it impacts the Insurer, it impacts the intermediary. There is a number of looming regulatory changes in the insurance sector, including further work in the binder space, the micro insurance framework, changes to group policies and amendments to the Short- and Long-term Insurance Acts. We’ll share our insights on what you need to know.
Important amendments proposed by the Financial Intelligence Centre Amendment Bill
FICA, as it’s commonly referred to, is often overlooked. The huge fines recently issued to some banks reiterate the importance of keeping abreast of developments in this space. We’ll highlight important proposed amendments and what they will mean to you.
The Debarment Process
The effect of a debarment of a representative of a financial services provider under the Financial Advisory and Intermediary Services Act (FAIS) is to preclude such representative from providing regulated financial services altogether. The implication of this is that a financial services provider ought to be held to strict procedural and substantive requirements before effecting a debarment in terms of section 14 (1) of FAIS. This was illustrated very clearly in a number of judgements of the High Court. These procedural and substantive requirements are now also proposed to be incorporated into FAIS through the Financial Sector Regulation Bill. Webber Wentzel will guide participants through these requirements and propose best practice tools to ensure that debarments do not fall foul of the courts.
Restraints of Trade
Employers often conclude agreements in restraint of trade with key personnel in order to protect the employer without sometimes realising what the essential legal requirements are of such agreements, what the protectable interests are that can be covered by the restraint of trade agreements and what the requirements are to enforce the restraint of trade agreements. Employees, on the other hand, conclude these agreements sometimes not understanding the implications thereof on their employment with other employers and what the challenges are if they want to dispute the validity of the restraint. Webber Wentzel will provide participants with an overview of the principles of restraint of trade law, with particular emphasis on their application in the financial services sector.
Booking is now open. Please click here to access the registration page.
