09 July 2019 Archives

Reminders – 09 July 2019

Posted on 9 Jul 2019

Continuous Professional Development (CPD) CPD Exemption FSPs, KIs and Reps that are making use of the CPD exemption which the FSCA afforded for the 2018 CPD cycle are reminded that the deadline to comply with the required number of CPD hours is 31 July 2019. Planning for the 2019/2020 CPD cycle The current CPD cycle … Continued

Pension Funds: Sustainability of Investments and Assets

Posted on 9 Jul 2019

Regulation 28 (Reg 28) under the Pension Funds Act aims to ensure that the savings South Africans contribute towards their retirement is invested in a prudent manner that not only protects the retirement fund member but is also channeled in ways that achieve economic development and growth. Reg 28 promotes responsible investing of fund assets, … Continued

New FSCA appointment – Divisional Executive: Conduct of Business Supervision

Posted on 9 Jul 2019

The Financial Sector Conduct Authority (FSCA) recently announced the appointment of Ms. Kedibone Dikokwe as the Divisional Executive: Conduct of Business Supervision which took effect from 1 July 2019. The Conduct of Business Supervision is the division that supervises the way financial institutions interact with their customers. In this role Ms. Dikokwe will oversee the … Continued

Financial Intelligence Centre Appeal Board Rules

Posted on 9 Jul 2019

The Financial Intelligence Centre (FIC) Appeal Board Rules sets out the rules and procedures to be followed when lodging an appeal against a decision made by a decision-maker (either the FIC or a supervisory body in accordance with section 45C of the Financial Intelligence Centre Act, 2001). The rules, inter alia, also contain a precedent … Continued

Determination of form and manner of section 19(3) Auditor Report

Posted on 9 Jul 2019

FSPs that hold money or assets on behalf of clients are required, in terms of section 19(3) of the FAIS Act, to maintain full and proper monthly accounting records in respect of such money or assets. They are also required to submit a separate auditor report to the FSCA together with the annual financial statements. … Continued

Creating a viable business plan

Posted on 9 Jul 2019

One of the Fit and Proper requirements listed in chapter 5 of Board Notice 194 of 2017 is that each FSP must have a business plan that includes the aims and scope of the business as well as the business strategies. As we enter the second half of 2019, FSPs should begin planning ahead and … Continued

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Mastering Compliance Newsletters

09 July 2019

Reminders – 09 July 2019

Pension Funds: Sustainability of Investments and Assets

New FSCA appointment – Divisional Executive: Conduct of Business Supervision

Financial Intelligence Centre Appeal Board Rules

Determination of form and manner of section 19(3) Auditor Report

Creating a viable business plan

EARN CPD HOURS

Mastering Compliance Newsletters

09 July 2019

Reminders – 09 July 2019

Pension Funds: Sustainability of Investments and Assets

New FSCA appointment – Divisional Executive: Conduct of Business Supervision

Financial Intelligence Centre Appeal Board Rules

Determination of form and manner of section 19(3) Auditor Report

Creating a viable business plan

EARN CPD HOURS

MASTHEAD IS

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