06 November 2018 Archives

Short-term advisors to implement fee agreements before 1 January 2019

Posted on 6 Nov 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. To read more on Rule 12.4.1, click here

CMS Circular 50 of 2018: Demarcation Exemption Appeal Outcome

Posted on 6 Nov 2018

The Council for Medical Schemes recently published the Demarcation Exemption Appeal Outcome. In March 2017 the Council in consultation with other stakeholders approved the Exemption Framework, which permits the exemption of Providers of indemnity products that are conducting the business of a medical scheme from certain provisions of the Medical Schemes Act for a period … Continued

Amendments to the Long-Term and Short-Term Insurance Regulations

Posted on 6 Nov 2018

The National Treasury recently published amendments to the Regulations made under section 72 of the Long-Term Insurance Act and section 70 of the Short-Term Insurance Act. On 26 October 2018 they further published a notice to clarify the commencement date of some of these amendments. The Amendments to the Regulations must now be interpreted to … Continued

Comply with General Code of Conduct when providing advice

Posted on 6 Nov 2018

An Ombud determination highlights the importance of adhering to the General Code of Conduct when rendering financial services and making adequate product disclosures when advising the client. In the case of Dr R.A.Georges De Meulenaere v S. E Coetzer t/a Downstream Trading, the financial service provider (FSP) advised his client in 2011 to invest in … Continued

Why succession planning is important

Posted on 6 Nov 2018

Somebody broke into my son’s luggage when he flew home for the recent holidays, so I went to our local luggage shop to replace it. The perfect shell suitcase was there, branded with characters from the Star Wars franchise. Pleased with the new suitcase, I went home and showed my son, who is a Star … Continued

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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.

Mastering Compliance Newsletters

06 November 2018

Short-term advisors to implement fee agreements before 1 January 2019

CMS Circular 50 of 2018: Demarcation Exemption Appeal Outcome

Amendments to the Long-Term and Short-Term Insurance Regulations

Comply with General Code of Conduct when providing advice

Why succession planning is important

EARN CPD HOURS

Mastering Compliance Newsletters

06 November 2018

Short-term advisors to implement fee agreements before 1 January 2019

CMS Circular 50 of 2018: Demarcation Exemption Appeal Outcome

Amendments to the Long-Term and Short-Term Insurance Regulations

Comply with General Code of Conduct when providing advice

Why succession planning is important

EARN CPD HOURS

MASTHEAD IS

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info@masthead.co.za

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