The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
Read moreIn 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 […]
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 […]
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 […]
We are inundated with requests from clients who have mislaid their certificates. Please follow the DIY steps below to get it much quicker. Regulatory Exam candidates who wrote with Moonstone, and passed, can […]
The statistics section of the Ombud’s report provides useful insight into trends in the industry. New complaints received During the applicable year, the FSB received 9 949 complaints. The total number of complaints […]
The information below is taken directly from FAIS Information Circular 8/2013. Level 1 REs “The FSB decided to commence with a review of the Level 1 examinations. The review will mainly focus on […]
One would think that the required relationship between key individuals and their representatives are fairly clear. Where a key individual is required, at this time, to have successfully completed the level 1 regulatory […]
The good news is that marking of papers happens a lot faster than in the days when the whole industry was writing. We are currently experiencing problems with candidates who register for the […]
In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]
Co-administration agreements (also referred to as profit-sharing or 80/20 agreements) between insurers and funeral parlours or funeral administrators are under the magnifying glass of the FSB. This is very much in line with […]
I toyed with several titles when contemplating writing this article, but finally settled on this one, from a Roald Dahl short story. A typical Dahl tale contains unexpected developments in the story line, […]
All the talk, or rather, the lack of talk about TCF, has a left a lot of us in the lurch as to just where we stand with this initiative. The one bit […]
We briefly touched on this topic in a previous article FSB Enforcement Committee. In this article we expand on the actual workings of the Enforcement Committee, and provide information that will stand you […]
A document from the Registrar of Long-term Insurance was published in June and calls for comments by 31 July 2013. The request for input on the Directive follows in the wake of determinations […]
This document from the FSB provides: Guidance on activities that constitute binder functions, Guidance on activities that are incidental to binder functions. Remuneration payable as a binder fee. Some important points: Inclusion of […]
When I lived on the West Coast, the first day of the crayfish season was a joyous occasion. Somehow, I do not share the same elation when I read about the opening of […]
