Posted on 4 Dec 2018
Short-term advisors who charge clients a fee over and above that earned for “rendering services as intermediary” are reminded to implement an explicit, written fee agreement before Rule 12.4.1 of the Short-term Insurance Policy Holder Protection Rules takes effect on 1 January 2019 as per the amended Policy-Holder Protection Rules.
Posted on 4 Dec 2018
Although the requirement to implement a Risk Management and Compliance Programme (section 42 of the FIC Act) came into effect on 2 October 2017, Accountable Institutions have been granted some time to implement this. Accountable Institutions are reminded that they must fully adopt and implement an RMCP by 2 April 2019.
Posted on 4 Dec 2018
Category I FSPs that do not have a Compliance Officer must submit their Annual Compliance Reports to the FSCA on or before 28 February 2019 in terms of FSCA FAIS Notice 69 of 2018. Should you have any enquiries relating to the submission of the report, please contact the FSCA for assistance on 012 428 … Continued
Posted on 4 Dec 2018
The FSCA released a statement on the Momentum/Ganas case following the decision made by Momentum to make payment in relation to a life policy claim after Momentum initially rejected the claim of R2.4 million. Momentum refused to pay out the life cover claim to the widow of the deceased, N. Ganas, due to non-disclosure of … Continued
Posted on 4 Dec 2018
The office of the FAIS Ombud relocated on 1 November 2018. All contact details of the FAIS Ombud remain the same except for their new physical address being: Kasteel Park Office Park, Orange Building, 2nd Floor, Cnr of Nossob and Jochemus Street, Erasmuskloof, Pretoria. Other contact details of the FAIS Ombud: Phone: 012 762 5000 … Continued
Posted on 4 Dec 2018
On 3 December 2018, the FSCA published FAIS Notice 86 of 2018: Exemption of Services under Supervision. The Notice exempts certain Financial Services Providers and Representatives from provisions of the Financial Advisory and Intermediary Services (FAIS) Act 37 of 2002 as set out in the Schedule. Masthead will unpack the Exemption of Services under Supervision … Continued
Posted on 4 Dec 2018
Treating customers fairly (TCF) should be engrained in your business. This includes being able to recommend suitable products for your target market and ensure your clients understand the financial products they are purchasing. TCF Outcome 2 requires that financial services and products are designed to meet the needs of clients. To ensure the services and … 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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This document illustrates the Privacy Policy for this Website, www.masthead.co.za
Personal Information
The privacy policy illustrates how Masthead (Pty) Ltd protects the information that is provided to it by its users.
Masthead (Pty) Ltd will not sell or rent its user’s personal identifiable information to third parties.
Sharing of Information
Masthead (Pty) Ltd may send personal identifiable information about its users to other companies or third parties should there be a need to share the user’s information in order to provide the product or service the user has requested.
Furthermore, the only information Masthead (Pty) Ltd will ever disclose to third parties is aggregate information about its users. Aggregate information will not identify the website’s users and will only identify the user’s population in general terms.
Electronic Communications
The user consents to the website’s agreements, notices and disclosures by visiting the website and receiving electronic information or communication by electronic means and this indicates that any legal requirements has been satisfied.
Changing of Information
Masthead (Pty) Ltd reserves the right to change the Privacy Policy on an ad hoc basis at its sole discretion. Masthead (Pty) Ltd is not responsible for the content or privacy practices of non-Masthead websites to which it refers.
Contact information
Should you not be satisfied with the information or should any information be found to be untrue or incorrect, please notify Masthead (Pty) Ltd on the following email address: info@masthead.co.za
Masthead (Pty) Ltd and its agents or representatives shall not be liable for any damage, loss or liability arising from the use or inability to use this website or the services or content provided from and through this website.
Information, ideas and opinions expressed on this site should not be regarded as binding advice or the official opinion of Masthead (Pty) Ltd and users are encouraged to consult professional advice before taking any course of action related to information, ideas or opinions expressed on this site.
Masthead (Pty) Ltd has, and will continue to take reasonable care to ensure that all information, in so far as this is under its control, provided on this website is true and correct.
Masthead (Pty) Ltd shall not be responsible for, and therefore disclaims any liability for, any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this website.
There is no warranty of any kind, expressed or implied, regarding the information or any aspect of this service. Any warranty implied by law is hereby excluded except to the extent such exclusion would be unlawful.
Links to other sites
Our website contains links to other sites. Please be aware that Masthead is not responsible for the privacy practices of such other sites. We encourage users to be aware when they leave our site and to read the privacy statements of each and every website that collects personally identifiable information. This privacy statement applies solely to information collected by this website.