People’s expenses change in retirement. Shouldn’t their income too?

Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.

FSCA provides an update on progress with the move to COFI

The Authority’s latest three-year Regulation Plan does not specify by when the three-phase transition project will be completed.

Achieve your professional goals in 2024 through further studies with MBSE

As the deadline for Moonstone Business School of Excellence’s 2024 enrollment approaches, 2023 top achiever Daniël van Heerden shares his insights on what it takes to complete the Postgraduate Diploma in Financial Planning.

MBSE provides top-quality financial education and a convenient way to learn

A top achiever in the Advanced Certificate in Financial Planning programme recommends MBSE because of the quality of the teaching and the friendly lecturers.

When will Cofi be served?

The FSCA publishes its updated regulatory agenda for the next three years.

CPD deadline less than three weeks away

You have only 18 days left as we approach the end of the Continuous Professional Development (CPD) cycle and the deadline for the Financial Advisory and Intermediary Services (FAIS) CPD, which is 31 […]

Advertising regulations much stricter

“One of SA’s big five banks has been censured for practising “deception” in advertising for its rewards programme,” according to an article in the Sunday Times. The bank’s scheme offered “up to R5 […]

Crypto Assets – Draft declaration to define it as financial product

On Friday, the Financial Sector Conduct Authority (FSCA) published a draft declaration of crypto assets as financial products. “Globally there is rapid growing interest by retail investors to purchase crypto assets. South Africa […]

FAIS Ombud uncovers doubtful practice – Provider “misunderstands” its own policy wording

The Office of the FAIS Ombud often receives complaints related to alleged unfair rejection of claims. One of the latest deals with the calculation of a waiting period that may be imposed in […]

FSCA Notices – Extension of various exemptions

The FSCA has released the following Notices: 1. FSCA FAIS Notice 68 of 2020 Amendment of Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from Section 13 of the General […]

FSCA Notices – Extension of various exemptions

Can a FAIS CO also be a AI’s FIC Compliance Officer? – Clarity on important matter

Draft Public Compliance Communication No. 12A (PCC 12A) that provides guidance on outsourcing of compliance activities to third parties, has raised a few questions. Carolee Reyneke-Minnaar of Moonstone Compliance provides some clarity on […]

Can a FAIS CO also be a AI’s FIC Compliance Officer? – Clarity on important matter

COVID-19 – Measures Implemented by FAIS Ombud

As a result of the COVID 19 virus, the Office of the FAIS Ombud has also implemented measures to limit the spread of the virus in an effort to protect both employees and […]

Tribunal Debarment Decision – Wilful disregard of FAIS requirements not acceptable

The abhorrent practise of submitting a single premium investment as a recurring premium policy to earn a substantially higher commission is nothing new. If you then, in addition, destroy documentary evidence in the […]

FAIS Ombud Annual report – Unpacking the statistics

During the financial year the OFO received a total of 9323 new complaints, a reduction of 8.7% from the 10 211 received during the 2017/2018 financial year. However, the OFO finalised 9954 complaints, 6.8% […]

FAIS Ombud Report – What are the emerging trends?

The Office of the FAIS Ombud (“OFO”) released its Annual Report for the year 2018/2019 last week, providing a review of its performance over this period. During the financial year the OFO received […]