9 October 2018 Archives

Levies due and payable for end October

Posted on 9 Oct 2018

FSPs are reminded that the FAIS Levy Invoices should have been received with payment due before 31 October 2018. If an FSP has not received their invoice, we suggest that they contact the FSCA requesting that the invoice be resent to them. Failure to pay levies timeously can result in licence suspension.

CAT IV Compliance Reports due end October

Posted on 9 Oct 2018

Category IV FSPs must submit their Annual Compliance Reports to the FSCA on or before 31 October 2018 in terms of FAIS Notice 54 of 2018. FSPs and Compliance Officers are encouraged to submit their reports using the FSCA’s online submission method on the FSCA website: www.fsca.co.za Should you have any enquiries relating to the submission of the report, please contact your … Continued

Response to informal consultation feedback on the replacement advice record for individual risk policies

Posted on 9 Oct 2018

Rule 19 of the Policyholder Protection Rules (PPRs) made under the Long-term Insurance Act requires long-term insurers to meet certain requirements before entering into an individual risk policy that is a replacement policy. The FSCA (previously the FSB) had provided an initial draft format of the replacement advice record to industry associations for comment in … Continued

Policyholder Protection Rules published by FSCA

Posted on 9 Oct 2018

The Financial Sector Conduct Authority published the amendments to the Policyholder Protection Rules prescribed under section 62 of the Long-Term Insurance Act and section 55 of the Short-Term Insurance Act. The Amendments took effect on 1 October 2018. To download all the documents relating to these amendments, click here.

Understanding the impact of the consultation paper on the Exemption of Services under Supervision in your practice

Posted on 9 Oct 2018

The FSCA published a consultation paper on Exemption on Services under Supervision at the end of July 2018 to align the requirements for representatives acting under supervision with the new Fit and Proper Requirements[1] and to address some of the Conduct Authority’s concerns. The proposals also reflect the shift to principle and outcomes-based regulation, leaving … Continued

Proposed changes to the General Code of Conduct – What advisors need to think about to align their advice process

Posted on 9 Oct 2018

Central to the Financial Advisory and Intermediary Services (“FAIS”) Act and the Retail Distribution Review (“RDR”) is quality and suitable advice to clients. In this article we look at how some of the main proposed amendments to the FAIS General Code of Conduct published for consultation in November 2017[1] will impact an advisor’s advice process. … 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

9 October 2018

Levies due and payable for end October

CAT IV Compliance Reports due end October

Response to informal consultation feedback on the replacement advice record for individual risk policies

Policyholder Protection Rules published by FSCA

Understanding the impact of the consultation paper on the Exemption of Services under Supervision in your practice

Proposed changes to the General Code of Conduct – What advisors need to think about to align their advice process

EARN CPD HOURS

Mastering Compliance Newsletters

9 October 2018

Levies due and payable for end October

CAT IV Compliance Reports due end October

Response to informal consultation feedback on the replacement advice record for individual risk policies

Policyholder Protection Rules published by FSCA

Understanding the impact of the consultation paper on the Exemption of Services under Supervision in your practice

Proposed changes to the General Code of Conduct – What advisors need to think about to align their advice process

EARN CPD HOURS

MASTHEAD IS

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