Some product providers have created facilities for advisers to upload documents on-line. This is then stored in a secure environment by the provider. John, a Moonstone Protector client recently raised an interesting compliance […]
A recent article by Patrick Cairns in Moneyweb provides an interesting perspective on the role of technology in the ever increasing challenge that compliance is becoming. The advent of Twin Peaks means that […]
The latest ruling by the Appeal Board reaffirms the fact that there really is no alternative, harsh as it may sound. The appellant appealed against the withdrawal of his licence by the Registrar. […]
In December, the FAIS Ombud released no less than eight determinations. In a strange turn of events, one case was actually referred to the courts as the Ombud was unable to determine whether […]
FAIS Newsletter 19 contains an article on this subject: During November 2015, the Registrar imposed a fine of R150 000 against a FSP for failure to observe section 2 of the Code. The FSP kept […]
I was reading through an earlier Ombud determination when I came across the following: Third respondent goes on to state that the Second respondent met with the clients personally to re-allocate the clients’ […]
The Enforcement Committee of the Financial Services Board levied a penalty of R100 000 against a short-term insurer, following a referral by the Registrar of Short-term Insurance stemming from a contravention of section 44 […]
Louis Wessels, FSB legal consultant, writes in the latest FSB Bulletin that the debarment of representatives, unlike those involving key individuals, remain a taxing problem for the Regulator. Readers may recall that we […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
The FSB’s presentation for compliance officers provided a lot of practical insight and advice. Whether you are an external or internal CO, there is a lot of food for thought and consideration on […]
The introduction of the FAIS Act brought a number of additional layers of cost which providers of financial services had to absorb. The majority of the tentacles of this octopus have compliance written […]
Treating Customers Fairly will impact on the whole industry. To date, most of the communication was aimed at corporates and industry bodies, with little information flowing through to smaller FSPs and independent financial […]
