24 April 2018 Archives

Implementation of the amendments to the Financial Intelligence Centre Act, 2001 – Supervisory Approach

Posted on 24 Apr 2018

In a recent communication, the FSCA reinforced that they will continue to conduct FIC onsite visits, and pointed out that accountable institutions must be able to demonstrate that they have taken steps to implement the new requirements. Click here to read the full communique.

Reminder: Deadline for application to the FSCA for new CIS Hedge Funds and Structured Deposit subcategories

Posted on 24 Apr 2018

The Financial Service Regulatory Act is in effect and the Financial Services Board has been replaced by the Financial Sector Conduct Authority (FSCA) from 1 April 2018. FSPs licensed at 1 April 2018 for: Short-term or Long-term Deposits must apply to the FSCA to add Structured deposits to their licence before 30 June 2018; Collective … Continued

Binder fees: capped remuneration

Posted on 24 Apr 2018

Financial Services Providers (FSPs) outsource functions for various reasons, such as increasing efficiency, reducing operating costs, improving company focus and managing risk by sharing the risk. One way in which insurance companies outsource is through Binder Agreements. This sub-set of outsourcing arrangements is regulated by the Financial Sector Regulation Act, Policyholder Protection Rules and Regulations … Continued

FAIS Ombud Complaint Checklist

Posted on 24 Apr 2018

Here are the steps you must follow if a client lodges a complaint with the FAIS Ombud In many cases a client will go directly to the FAIS Ombud without first lodging a complaint with you. Use this list to make sure you handle Ombud complaints fairly and follow all the required steps. Step 1 … Continued

Proposed changes to manage client complaints fairly

Posted on 24 Apr 2018

The FSB, now called the Financial Services Conduct Authority (FSCA), recently proposed amendments to the FAIS General Code of Conduct (GCoC) and the Specific Code of Conduct to align the codes with other legislation, like Treating Customers Fairly (TCF). One proposed amendment focuses on complaints management and prescribes how to deal with client complaints to … 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

24 April 2018

Implementation of the amendments to the Financial Intelligence Centre Act, 2001 – Supervisory Approach

Reminder: Deadline for application to the FSCA for new CIS Hedge Funds and Structured Deposit subcategories

Binder fees: capped remuneration

FAIS Ombud Complaint Checklist

Proposed changes to manage client complaints fairly

EARN CPD HOURS

Mastering Compliance Newsletters

24 April 2018

Implementation of the amendments to the Financial Intelligence Centre Act, 2001 – Supervisory Approach

Reminder: Deadline for application to the FSCA for new CIS Hedge Funds and Structured Deposit subcategories

Binder fees: capped remuneration

FAIS Ombud Complaint Checklist

Proposed changes to manage client complaints fairly

EARN CPD HOURS

MASTHEAD IS

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info@masthead.co.za

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