Posted on 25 Jul 2017
Financial Service Providers (FSPs) who ask their clients to sign blank forms or have incomplete documentation are liable for severe penalties. In Ombud cases, FSPs asked their clients to sign blank client records of advice, replacement forms, application forms and consent forms. Some said this was to have the form on file so they could … Continued
Posted on 25 Jul 2017
The Financial Services Board (FSB) has issued Notice 458 of 2017 on the Levies of Financial Institutions. Authorised financial services providers (FSPs) are required to pay a levy to the FSB to cover the cost of supervision and a levy for funding the Office of the FAIS Ombud by 31 October of the levy year. … Continued
Posted on 25 Jul 2017
The FSB has issued its first Twin Peaks Newsletter. This is an online newsletter that sets out information about the implementation of Twin Peaks, the philosophy behind it as well as the regulatory framework changes that will impact South Africa’s financial sector. This follows the Financial Sector Regulation Bill being passed by Parliament and handed … Continued
A national supplier of risk management services to independent financial advisors and other licensed financial service providers (FSPs). Established in 2004, we help our clients overcome their risk management challenges so they can grow and thrive in an increasingly regulated industry. Providing professional guidance and practical support, our team of specialists is passionately committed to delivering tangible solutions.
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