12 December 2017 Archives

Financial Services Board National Roadshow 2017

Posted on 11 Dec 2017

The Financial Services Board (FSB) held its national roadshow during November 2017. The presentations were themed around Insurance Conduct of Business and Insurance Prudential and included updates on: Twin Peaks Conduct of business regulatory reforms Retail Distribution Review (RDR) The conversion of licenses, and other transitional arrangements Feedback on the Conduct of Business Returns from … Continued

FSB responses to comments received from the second round of public consultation on the PPRs

Posted on 11 Dec 2017

In December 2016, the National Treasury (NT) and the Financial Services Board (FSB) published for public comment the proposed amendments to Regulations and Policyholder Protection Rules (PPR). During February 2017, the NT, together with the FSB, hosted workshops with stakeholders to engage on the changes proposed in the draft Regulations and PPRs. The NT and … Continued

Prevention and Combating of Corrupt Activities Amendment Bill

Posted on 11 Dec 2017

The Department of Justice and Correctional Services has published the Prevention and Combating of Corrupt Activities Amendment Bill 2017. The Amendment Bill aims to amend the Prevention and Combating of Corrupt Activities Act, 2004, to: deal with passive corruption in respect of foreign public officials; extend the offence of unacceptable conduct relating to ordinary witnesses … Continued

Draft Determination on ‘Equivalence of Reward’

Posted on 11 Dec 2017

Draft Determination that sets out when a person or long-term insurer would not be complying with the principle of Equivalence of Reward has been released for public comment (Board Notice 181 of 2017). The principle of equivalence of reward seeks to ensure level playing fields between the remuneration of representatives and independent intermediaries. The primary … Continued

Draft Directive – Prohibition of Inducement and Acceptance of Gratification

Posted on 11 Dec 2017

The Registrar of Pension Funds published a draft Directive in terms of the Prohibition of Inducement and Acceptance of Gratification. The Directive aims to ensure compliance with and to prevent contraventions of the objectives of a Board, as determined in terms of section 7C of the Pension Funds Act. The purpose is to allow the … Continued

Keep clients informed about policy changes

Posted on 11 Dec 2017

An Appeal Board ruling highlights that clients have a right to be informed of and to consent to policy changes. The ruling supported a FAIS Ombud’ determination to dismiss a complaint in the case of Sibaniso Phoshera v MUA Insurance Acceptances and KPC Brokers and Auto & General. But the Appeal Board supported aspects of … Continued

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Mastering Compliance Newsletters

12 December 2017

Financial Services Board National Roadshow 2017

FSB responses to comments received from the second round of public consultation on the PPRs

Prevention and Combating of Corrupt Activities Amendment Bill

Draft Determination on ‘Equivalence of Reward’

Draft Directive – Prohibition of Inducement and Acceptance of Gratification

Keep clients informed about policy changes

EARN CPD HOURS

Mastering Compliance Newsletters

12 December 2017

Financial Services Board National Roadshow 2017

FSB responses to comments received from the second round of public consultation on the PPRs

Prevention and Combating of Corrupt Activities Amendment Bill

Draft Determination on ‘Equivalence of Reward’

Draft Directive – Prohibition of Inducement and Acceptance of Gratification

Keep clients informed about policy changes

EARN CPD HOURS

MASTHEAD IS

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