19 February 2019 Archives

FICA Risk Management and Compliance Programme to be implemented by 2 April 2019

Posted on 19 Feb 2019

Although the requirement to implement a Risk Management and Compliance Programme (section 42 of the FIC Act) came into effect on 2 October 2017, accountable institutions have been granted some time to implement this. Accountable institutions are reminded that they must have fully adopted and implemented an RMCP by 2 April 2019 to replace their … Continued

Category II and IIA Compliance Reports and Assets under Management

Posted on 19 Feb 2019

CAT II and IIA FSPs are required to submit their Bi-Annual Compliance Reports to the FSCA two (2) months after the reporting date. The reporting dates for Category II and IIA FSPs are 30 June and 31 December of each year. The upcoming Compliance Reports must, therefore, be submitted to the FSCA by 28 February … Continued

Compliance Report for Category I FSPs without a Compliance Officer

Posted on 19 Feb 2019

Category I FSPs that do not have a Compliance Officer must submit their Annual Compliance Reports to the FSCA on or before 28 February 2019 in terms of FSCA FAIS Notice 69 of 2018. Should you have any enquiries relating to the submission of the report, please contact the FSCA for assistance on 012 428 … Continued

Increase of medical scheme fees payable to brokers

Posted on 19 Feb 2019

The Council for Medical Schemes recently published Circular 4 of 2019 detailing the adjustment of fees payable to brokers. The Minister of Health has approved an increase on the maximum fee that is payable by medical schemes to brokers with effect from 1 January 2019. Regulation 28(2) published in terms of the Medical Schemes Act, … Continued

FSCA Executive Appointments

Posted on 19 Feb 2019

The Financial Sector Conduct Authority (FSCA) recently announced their new executive appointments which took effect from 1 February 2019. These are: Read more in FSCA Press Release: The Financial Sector Conduct Authority appoints new executives

Financial Soundness

Posted on 19 Feb 2019

Authorised Financial Services Providers (FSP) and their juristic representatives are required to comply with financial soundness requirements applicable to their category(ies) of license and the type of financial services which they provide. FSPs that do not continuously meet these requirements face the risk of license suspension or even licence withdrawal. Some FSPs have additional reporting … Continued

Corporate governance in line with Fit and Proper requirements

Posted on 19 Feb 2019

A governance framework that has a practical overview of your business and treats customers fairly became mandatory for financial service providers (FSPs) when the new fit and proper requirements came into effect on 1 April 2018. As the core of corporate governance, a governance framework comprises the rules and procedures that set out what a … Continued

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Mastering Compliance Newsletters

19 February 2019

FICA Risk Management and Compliance Programme to be implemented by 2 April 2019

Category II and IIA Compliance Reports and Assets under Management

Compliance Report for Category I FSPs without a Compliance Officer

Increase of medical scheme fees payable to brokers

FSCA Executive Appointments

Financial Soundness

Corporate governance in line with Fit and Proper requirements

EARN CPD HOURS

Mastering Compliance Newsletters

19 February 2019

FICA Risk Management and Compliance Programme to be implemented by 2 April 2019

Category II and IIA Compliance Reports and Assets under Management

Compliance Report for Category I FSPs without a Compliance Officer

Increase of medical scheme fees payable to brokers

FSCA Executive Appointments

Financial Soundness

Corporate governance in line with Fit and Proper requirements

EARN CPD HOURS

MASTHEAD IS

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info@masthead.co.za

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