FSCA to act to recover R495m in fines owed by Jooste

Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.

Positive News from PFA

The Pension Fund Adjudicator published her annual report last week. It contains some very positive indicators, as well as concerns for the industry, and the public. In the message from the Minister of […]

Risk Management Plans

Section 11 of the General Code deals with the control measures required: “A provider must at all times have and effectively employ the resources, procedures and appropriate technological systems that can reasonably be […]

FSB and Ombud Levies

All registered FSPs should, by now, have received their invoices in respect of the FSB and FAIS Ombud levies. These levies are for the period 1 April 2013 to 31 March 2014. If […]

FSP Numbers Update

The impact of regulation on the number of people in the industry remains a major source of interest for many people. It could stem from a need to know that there is safety […]

Advertising on Moonstone Platforms

Nowhere is the world-wide trend towards digital advertising better mirrored than in the shift in the budget of our own Naspers. People simply find digital access to information so much easier. Why type […]

The importance of Effective Oversight

The latest determination by the Ombud contains several important pointers for advisors, particularly from a record keeping and oversight perspective. The Van Vuuren couple, at the respective ages of 66 and 69, effected […]

Debarments a Sorry State of Affairs

“The volumes of cases for debarments are mind boggling as they paint a picture of an industry replete with misfits and incompetent representatives. Simply put, the public is at risk.” Harsh words from […]

FSB Internet Technical Specifications

If you experience problems accessing information from the FSB website, please read the information below. This is copied directly from the Regulator’s website. Internet Browsers The FSB developed this website to work correctly […]

FSB Proposes Amendments to 3 Board Notices

In a notice published last week, the FSB requests input from the industry on proposed amendments to three Board Notices: The 2008 Determination of Fit and Proper Requirements The 2008 Determination of Qualifications […]

The Debarment Process

Monday’s article, Debarment under the Loop, was based on a High Court judgment which led to the reinstatement of a representative who was debarred. Our article evoked a flurry of enquiries from the […]

Debarment under the Loop

A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]

What TCF is NOT

When does Treating Customers Fairly (TCF) become a reality? In the original planning, January 2014 was indicated as the planned date for implementing legislative changes envisaged in the regulatory framework. If this is […]

Dubious Business Dealings

An alert Moonstone compliance officer advised us of an outfit calling themselves Legal Centre who are employing dubious marketing tactics to make money out of unsuspecting individuals and businesses. They are punting PAIA […]

Am I my client’s keeper?

Most of the Ombud determinations we reported on, had a negative outcome for the advisor involved. It is nice to come across one where the Ombud found in favour of the broker. This […]

Jy’s Dof – B*gger Off

Beacon Radio (Wolverhampton) DJ Mark: For 10, what is the nationality of the Pope? Ruth from Rowley Regis: I think I know that one. Is it Jewish? Phil Wood Show (BBC Radio Manchester) […]

FSP Licence Update

In the latest announcement by the FSB on the status of FSP licences, we see for the first time that failure to write the regulatory exams feature in the reasons for suspensions and […]