19 October 2017 Archives

2017 Annual Compliance Reports

Posted on 18 Oct 2017

Category IV FSP’s must submit their Annual Compliance Reports to the FSB on or before 31 October 2017 in terms of FAIS Notice 55 of 2017. FSP and Compliance Officers are encouraged to use the online submission method. Should you have any enquiries relating the submission of the report please send an e-mail to the … Continued

Know your client before giving advice

Posted on 18 Oct 2017

Gathering appropriate information from a client before providing advice helps you to meet the suitability requirement prescribed by the General Code of Conduct, and it will enable you to give your client appropriate and suitable advice. Section 8(1)(a) of the Code states: A provider … must, prior to providing a client with advice – take … Continued

National Treasury: Warning against the risks associated with virtual currencies

Posted on 18 Oct 2017

A virtual currency is a unit of account that is digitally or electronically created and stored. A virtual currency allows users to purchase goods and services without using a government-backed currency, provided that the participants are willing to accept the currency as a form of payment. This unregulated, ‘open source’ currency is not controlled and … Continued

A proper Record of Advice can protect you

Posted on 18 Oct 2017

To avoid confusion and to defend your actions should a client complain, Records of Advice should include the context in which information is given to a client and why your recommended products are relevant and suitable for the client. A complaint was recently lodged with the Ombud for Financial Services by a client who had … Continued

Withdrawal of Exemptions

Posted on 18 Oct 2017

The Minister of Finance has amended the Money Laundering and Terrorist Financing Control (MLTFC) Regulations and withdrawn Exemptions made in terms of the Financial Intelligence Centre Act, 2001 (FIC Act). The following regulations have been withdrawn: R1596 of 20 December 2002 1353 19 November 2004 560 25 June 2010 461 5 June 2015 The exemptions … Continued

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Mastering Compliance Newsletters

19 October 2017

2017 Annual Compliance Reports

Know your client before giving advice

National Treasury: Warning against the risks associated with virtual currencies

A proper Record of Advice can protect you

Withdrawal of Exemptions

EARN CPD HOURS

Mastering Compliance Newsletters

19 October 2017

2017 Annual Compliance Reports

Know your client before giving advice

National Treasury: Warning against the risks associated with virtual currencies

A proper Record of Advice can protect you

Withdrawal of Exemptions

EARN CPD HOURS

MASTHEAD IS

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