The long-standing battle by the Council for Medical Schemes to have gap cover and hospital plans clearly demarcated as insurance, and not medical products, is indicative of its determination to ensure that clients […]
The regulatory examinations took precedence for most people in the industry, and may have averted the focus from the qualification requirement, particularly in the case of representatives working under supervision. Industry demands for […]
A number of important documents were placed on the FSB website on Friday. Two of these are of particular importance to those involved in training, as well as those who are subject to […]
The FSB’s FAIS Newsletter 16 was published on 13 December 2013. The second article states that a decision was taken to implement punitive measures available to the Regulator when FSPs fail to submit […]
Reaction to the recent introduction of the E-Toll system in Gauteng reminded me of a similar sense of indignation a few years ago when the regulatory examinations were announced. Many people in the […]
The FAIS Compliance Department’s goal is tasked with ensuring that all FSPs are held to a high degree of compliance with the FAIS Act. The Department is also committed to instil the goals […]
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 Review of Retail Distribution has certainly taken an interesting turn from where we thought the Regulator was heading with this very important issue a year ago. The term, “Fees for Service”, implied […]
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 […]
At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key […]
FAIS Circular 7, issued by the FSB this week, contains details of a new debarment notification document which comes into effect tomorrow, 1 November 2013. The background to this new form was discussed […]
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 […]
Dr. Des Leatt kindly provided us with the following clarification from the FSB on this topic. There appears to be some confusion regarding the Level 1 Regulatory Exams as they apply to Foreign […]
“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 […]
There are some who will say that rugby is not as serious as work – it is much more important. Recent incidents in the sporting world confirmed a theory also held by many […]
