Posted on 22 Feb 2022
Formal training is not only necessary to operate as a financial services provider (FSP), key individual or representative, but it should also be documented, as a recent determination has highlighted. In the determination A J Valjee v FSCA, the Financial Services Tribunal dismissed an application for authorisation as an FSP. This was because the applicant, … Continued
Posted on 22 Feb 2022
The Office of the Ombud for Financial Services Providers (FAIS Ombud) published its 2020/2021 Annual Report in December 2021. The Report provides insight on topics such as the settlements agreed to, a summary of complaints received for the reporting period, various statistics, financial information, governance risk and compliance and human resources information. The FAIS Ombud … Continued
Posted on 22 Feb 2022
In the recent FIC Appeal Board decision of Truck World (Pty) Ltd vs The Financial Intelligence Centre and Another, a motor vehicle dealer’s appeal against an administrative sanction was dismissed. Background The motor vehicle dealer, Truck World, commenced operations in 1997 and had only registered with the FIC on 23 July 2019, after the FIC … Continued
Posted on 22 Feb 2022
The FSCA recently published two notices, FSCA INS Notice 1 of 2022 (short-term) and FSCA INS Notice 2 of 2022 (long-term), which extends the period of the exemption relating to direct collection of premiums by certain independent intermediaries and insurers, which was previously provided by FSCA INS Notice 1 of 2021 and FSCA INS Notice … Continued
Posted on 22 Feb 2022
Representative Register A reminder that the method of submitting Rep Register updates to the FSCA using a text-based document or Microsoft Excel spreadsheet will no longer be permitted after 31 March 2022. For more information on how to submit Rep Register updates to the FSCA, click here. CPD Progress FSPs, KIs and Reps are … 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.
Masthead is a level 1 B-BBEE contributor.