Alan Holton, an independent compliance practitioner and associate of Moonstone, recently shared the following information regarding amendments to the Financial Services Laws General Amendment Act of 2013. Financial Services Board Act 1990 and […]
Improved customer service and fair advisor remuneration will be key features of the new financial services landscape. Jonathan Dixon, Deputy Executive Officer of the Financial Services Board’s Insurance Division, made some interesting comments […]
The Retirement Funds Department of the FSB published Draft Information Circular 6 of 2013 to clarify its views on certain issues, including the payment of fees and commissions when a client elects to […]
The FSB published a letter inviting comment from the industry on a practice that it intends declaring an undesirable or irregular practice. Some insurers charge policyholders a fee in addition to the premium […]
The postponement of the Insurance Laws Amendment Bill, 2013 also impacted on a proposed change by the FSB to the FAIS Act. The objective of the proposed changes was to close regulatory gaps […]
The results of two surveys in the financial services industry were recently published by CoreData, a firm who conducts research in banking, mortgages, retail saving, pensions, asset management and the financial advisory sector. […]
Consumers at the lower end of the market are often more vulnerable when it comes to being defrauded. The latest Ombud determination provides details of how the Reformed Christians for Truth Church became […]
Candidates who pass the level 1 regulatory examination are issued with certificates which record this fact. These documents contain a number of security features to avoid fraudulent use thereof. Details of this cannot, […]
There was a time when actuaries at product houses spent endless hours developing a product, packaging it, and then sending it to the marketing division with the message: “Go out there and find […]
It is evident that the focus on continuous professional development is increasing. As noted in the article above, the FSB envisages publishing proposed new CPD requirements by the end of the year. The […]
Ms Leanne Jackson, Head of Treating Customers Fairly at the Financial Services Board recently responded to a Moonstone article published on the Insurance Gateway website: An article headlined “Not quite Treating Customers Fairly?” […]
The head of Britain’s recently formed Financial Conduct Authority (FCA) was accused of backtracking on a promise to introduce “proportionate” red-tape on insurance brokers by the British Insurance Brokers Association (Biba), according to […]
Impact of Legislative Changes on Regulatory Exams The announcement that the Financial Services Laws General Amendment Act, 2013 (Act 45 of 2013) came into operation on 28 February 2014 will necessitate changes to […]
The 2014 Budget announcement contained more detailed information on where we currently are on the road to extensive reforms of the retirement industry. A media release by National Treasury on 14 March 2014 […]
From the February 2014 edition of the Asisa’s Dispatches: A number of members and stakeholders have asked us to provide context to the announcement by Finance Minister Pravin Gordhan as part of his […]
The FAIS Supervision Department of the FSB follows a risk-based approach in supervising financial services providers (FSPs). Licenced entities are categorised in five sectors, ranging from high impact to small FSPs, with the […]
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. […]
