5 June 2018 Archives

FAIS Newsletter – Volume 26

Posted on 5 Jun 2018

The FSCA published their FAIS Newsletter Volume 26 May 2018. Please take some time to read “Update of the regulatory examinations” (page 3), which provides information on registering for examinations, amendments of examination dates, updated study material and more. RE 5 Exam deadline dates Any Representative appointed before 30 June 2015 must complete their RE … Continued

‘Automatic’ addition of new licence product categories for certain FSPs – what are the next steps?

Posted on 5 Jun 2018

The new Fit and Proper Requirements [1] made provision for six new product categories (subcategories). In this article we discuss three of these product categories. Three new product categories (namely Long-term Insurance B1-A, Long-term Insurance B2-A and Short-term Insurance Personal Lines A1) were created ‘out of’ three existing product categories (i.e. Long-term Insurance B1, Long-term Insurance … Continued

CIS Hedge funds and Structured Deposits – do you need to be licenced?

Posted on 5 Jun 2018

The new Fit and Proper requirements [1] made provision for six new product categories (subcategories). In this article we only deal with two of these, namely CIS Hedge Funds and Structured Deposits. In 2015 hedge funds were declared collective investment schemes [2] and therefore, fell into the licence subcategory Participatory Interests in a Collective Investment Scheme … Continued

Complaints to FAIS Ombud at record high

Posted on 5 Jun 2018

Client complaints to the FAIS Ombud are at a record high, which emphasises the importance for Financial Service Providers (FSPs) to keep comprehensive records of advice. The FAIS Ombud, who investigates and resolves complaints in terms of the FAIS Act and its Rules, received 10 846 complaints from 1 April 2016 to 31 March 2017. Rising … Continued

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Mastering Compliance Newsletters

5 June 2018

FAIS Newsletter – Volume 26

‘Automatic’ addition of new licence product categories for certain FSPs – what are the next steps?

CIS Hedge funds and Structured Deposits – do you need to be licenced?

Complaints to FAIS Ombud at record high

EARN CPD HOURS

Mastering Compliance Newsletters

5 June 2018

FAIS Newsletter – Volume 26

‘Automatic’ addition of new licence product categories for certain FSPs – what are the next steps?

CIS Hedge funds and Structured Deposits – do you need to be licenced?

Complaints to FAIS Ombud at record high

EARN CPD HOURS

MASTHEAD IS

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