06 August 2019 Archives

Reminders – 06 August 2019

Posted on 6 Aug 2019

Category II, IIA & III FSPs required to report assets under management Category II, IIA and III FSPs must calculate their assets under management (AUM) as at 30 June 2019 and prepare this for submission to the FSCA by no later than 21 August 2019. Read the FSCA 2019 AUM Levy Letter. Update your … Continued

Financial Services Tribunal new details and Rules

Posted on 6 Aug 2019

The Financial Services Tribunal which replaced the FSB Appeal Board in April 2018, is responsible for the reconsideration of decisions made by decision-makers as defined in section 218 of the Financial Sector Regulation Act. The Tribunal published a new set of rules which came into effect on 1 August 2019 and communicated their new address … Continued

Association for Savings and Investment South Africa (ASISA) Standards

Posted on 6 Aug 2019

ASISA recently published the following Standards on their website: ASISA Retail Standard on Effective Annual Cost ASISA Retirement Fund Standard: Effective Annual Cost for Individual Fund Members ASISA Standard: Calculation and Disclosure of Total Expense Ratios and Transaction costs These Standards should help advisors fulfil their duties to clients when providing advice and/or intermediary services … Continued

FSRA Exemption Notice 1 of 2019 (LTIA)

Posted on 6 Aug 2019

The FSCA published FSRA Exemption Notice 1 of 2019 – Exemption of certain insurers from Rule 19 of the Policyholder Protection Rules (Long-term insurance) and Regulation 3.9a of the Regulations under the Long-term Insurance Act, 1998, on 22nd July 2019. The purpose of this Notice is to exempt insurers that offer assistance policies, funeral policies or … Continued

Suitability of Advice: what is your responsibility?

Posted on 6 Aug 2019

The provisions contained in section 8 of the General Code of Conduct (GCoC) are not optional, which means you are responsible for the suitability of advice rendered to clients. Section 2 of the GCoC indirectly highlights the importance of determining the suitability of advice: “A provider must at all times render financial services honestly, fairly, … 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 August 2019

Reminders – 06 August 2019

Financial Services Tribunal new details and Rules

Association for Savings and Investment South Africa (ASISA) Standards

FSRA Exemption Notice 1 of 2019 (LTIA)

Suitability of Advice: what is your responsibility?

EARN CPD HOURS

Mastering Compliance Newsletters

06 August 2019

Reminders – 06 August 2019

Financial Services Tribunal new details and Rules

Association for Savings and Investment South Africa (ASISA) Standards

FSRA Exemption Notice 1 of 2019 (LTIA)

Suitability of Advice: what is your responsibility?

EARN CPD HOURS

MASTHEAD IS

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