Most of you can probably recite the legal definition of “advice” and “intermediary services” off by heart, having studied for the REs, but how many know how to interpret it correctly? The FSB published a document on its website titled “Guidance Note: Intermediary Services and Representatives” which discusses the practical application of the definitions of [...]
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2013 Annual FPI Convention and Expo
The 2013 Annual FPI Convention is just around the corner. Cited as one of the most prestigious and comprehensive conferences in this field, and with 800 delegates already registered, the convention promises to be an ideal opportunity for networking and gaining invaluable knowledge on how ...
regulatory exams
industry news
Justice delayed…
The Fidentia saga first came to light in March 2007 when J Arthur Brown and Graham Maddock were arrested. In February 2008, Maddock entered into a plea bargain and was sentenced to seven years in prison. In April 2009, Steven Goodwin followed suit, pleading guilty to 36 charges of fraud, corruption and money laundering. A [...]
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best practice
FSB Licensing – Part I
As reported on Thursday, the FSB envisages all FSPs, including the banks, to be licensed and re-licensed in 2014, as part of the implementation of the Twin Peaks model of regulation of financial services. Moonstone is a “recognised body”, providing licence application assistance. Our clients are applicants in licence category I and II, and we [...]
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compliance and legislation
FSB Information Letter 3 on Binder Regulations
The purpose of the document is to provide guidance on: Activities that constitute binder functions Remuneration payable by the insurer to the binder holder and The Registrar’s interpretation of the regulations from a regulatory perspective. This stems from the FSB’s view that “divergent interpretations have been applied … to various functions performed…” which resulted in [...]
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paul's perspective
Three out of Four
Wind uit hul Seile En daar vind die Stormers toe uit jy kan nie oornag van super verdediging oorskakel na super aanval nie. Veral nie as jy twee ysters soos Vermeulen en Elstadt moet vervang met ‘n ander tipe speler nie. Ek sien die media spekuleer dat hulle nou maar kan begin proefnemings doen vir [...]
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lighter wyn
A marriage made in Heaven
On their way to getting married, a young Catholic couple was involved in a fatal car accident. The couple found themselves sitting outside the Pearly Gates waiting for St. Peter to process them into Heaven. While waiting, they began to wonder if they could possibly get married in Heaven. When St. Peter arrived, they asked [...]
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Neologisms
This is an old post, but I thought you may enjoy it as much as I did when reading it again. 1. Coffee (n.), the person upon whom one coughs. 2. Flabbergasted (adj.), appalled over how much weight you have gained. 3. Abdicate (v.), to give up all hope of ever having a flat stomach. [...]
DOFA and the REs
Your date of first appointment determines by when you need to write the level 1 regulatory exam. FAIS Circular 13 of 2012 spells it out as follows: Sole proprietors, key individuals and representatives authorized, approved or appointed during January 2010 to December 2010 will be included in the extension of the re-write deadline of 31 [...]
Two to Go
For all practical purposes, we only have two horses left in the Super 15 race. The Sharks and the Stormers are paying the price for an indifferent start to the season, and few expected the Kings to do as well as they did. Their bye is a huge relief for the men from the Baai. [...]
More on Hippo Comparative Services
Our article on Monday was based on the contents of an FSB media release. We were unable to verify the facts against the actual Enforcement Committee order as the FSB website was unavailable for most of the day. We have since studied the formal document, and need to share some further thoughts on the matter. [...]
