Posted on 1 Nov 2017
The new foundation for FSPs to comply with the principal Financial Intelligence Centre (FIC) Act and the FIC Amendment Act on a risk sensitive basis is the Risk Management and Compliance Programme (RMCP). The RMCP has replaced Section 42 of the principal FIC Act, which required accountable institutions to implement ‘internal rules’. The RMCP not … Continued
Posted on 31 Oct 2017
The Financial Services Board (FSB) provides more information on the phasing in of the Twin Peaks regulation model, in Issue 2 of its Twin Peaks Newsletter. The newsletter provides clarity on the objectives of the Financial Sector Regulation (FSR) Act, which is seen as the foundation of the Twin Peaks model, and the changes or … Continued
Posted on 31 Oct 2017
The Financial Services Board (FSB) released its quarter one FSB Bulletin for 2017. The newsletter provides insight on interesting topics such as: The Impact of Twin Peaks; How the financial services sector is contributing to inclusive growth in SA; Consumer Education on the Psychology of Spending; and An article that sheds light on the question, … Continued
Posted on 31 Oct 2017
Refinery 5 (Pty) Ltd (Refinery) contravened section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002 in that during the period from February until April 2017 Refinery acted as a financial services provider in respect of shares when it was not permitted to render financial services in respect of this product category. … Continued
Posted on 31 Oct 2017
The FSB published a notice on 20 October 2017 to withdraw the document titled “Guideline on the Determination of Reappointment of Debarred Representatives”, published on 13 July 2011. The Financial Sector Regulation Act (FSRA) brings significant changes to the debarment procedure set out in the FAIS Act. Section 14 of the FAIS Act which deals … 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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