Having to interpret and navigate through the endless collection of Board Notices, Circulars and Guidance Notes which regulates the requirements associated with either being approved as a Key Individual, appointed as a Representative, […]
The new Determination of Fit and Proper Requirements for Financial Services Providers, 2017 (Board Notice 194 of 2017) sets out a number of new requirements relating to the financial soundness requirement of representatives. […]
Board Notice 194 of 2017 which contains the latest Fit and Proper requirements introduced a new concept called “Good standing”. This does not refer to your ability to consume copious amounts of alcohol […]
The new Fit and Proper Determination requires that certain individuals are required to obtain a specified number of Continuous Professional Development (CPD) hours between 1 June 2018 and 31 May 2019. In response to an application to […]
Back in the good old days, you needed an ashtray, a phone and a filing cabinet to be regarded as operationally okay. Some even went to such extremes as having a fax machine […]
Those who love record keeping will be elated by the new requirements contained in Board Notice 194 of 2017. “A FSP must establish, maintain and update on a regular basis a competence register in […]
The Latest Determination of Fit and Proper requirements refers to three types of training under the competence requirements. A look at the definitions will help readers distinguish more clearly what impacts on them, […]
The long awaited announcement of the new Determination of Fit and Proper requirements has certainly put the cat amongst the pigeons. A lot of businesses need to re-schedule their planning in view of […]
The new Fit and Proper regulations provide a wide range of prescriptions which FSPs should consider when appointing new representatives. It also has a potential bearing on current appointees who may be unrehabilitated […]
Board Notice 194 of 2017 contains the latest information on who should write which exams. The competence requirements relating to regulatory examinations determine that all FSPs, key individuals and representatives should write and […]
Whilst the 2017 Determination of Fit and Proper requirements rings in a new era of onerous obligations, it also provides a substantial amount of relief for the “oud-stryders” in terms of a number […]
The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. The following requirements are applicable in terms of the regulatory examinations: […]
The Financial Services Board subcontracted the beleaguered KPMG to do an impact assessment on the proposed amendments related to the Fit and Proper requirements, as published in the Draft fit and proper requirements […]
The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. Do not be fooled by the fact that the determination, sans […]
During the recent Moonstone Regulatory Update Workshops, Billy Seyffert, COO of Moonstone Compliance and Risk Management alluded to rather stringent requirements for those who plan to go this route. The FPI recently conducted […]
The new Fit and Proper (F&P) requirements due for publication any day now contains reference to a new concept which aims to address a thorny issue, namely the different levels of complexity of […]
At a recent meeting between senior officials of the FAIS Division of the FSB and a committee of industry members, Ms Lorraine van Deventer expressed the concern that many FSPs still do not fully […]
