Posted on 13 Oct 2020
Failure to appropriately advise a client, as required by Section 8 of the FAIS General Code of Conduct (GCOC), can result in serious consequences for both you and the client. In a 2016 Ombud Determination, a client alleged that her financial advisor had failed to appropriately advise her, despite having provided him with the necessary … Continued
Posted on 13 Oct 2020
The Financial Sector Conduct Authority (FSCA) filed an urgent application with the High Court which resulted in the liquidation of JP Markets (Pty) Limited in September 2020. The FSCA’s main contention was that JP Markets is an unlicensed over-the-counter (OTC) derivative provider. The FSCA relied on section 38B of the FAIS Act which allows the … Continued
Posted on 13 Oct 2020
Over the past few months, there has been much uncertainty regarding Contingent Business Interruption (CBI) insurance cover. The uncertainty stems from the many legal complexities surrounding CBI policy wordings. In a Press Release, the FSCA confirmed that it has been engaging with the non-life insurance industry on the most efficient way to approach the courts … Continued
Posted on 13 Oct 2020
The FSCA recently published Notification Form INS008 in terms of the Policyholder Protection Rules (PPRs) made under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA). The notification form must be used by insurers to notify the FSCA where there is an intention to terminate a group scheme policy as contemplated in Rule 20.2.4 and … Continued
Posted on 13 Oct 2020
On 29 September 2020, National Treasury published the second draft of the Conduct of Financial Institutions (COFI) Bill for public comment. The first draft of the Bill was published in December 2018 and was open for public comment until March 2019. The comment process allowed for issues to be more fully considered and the Bill … Continued
Posted on 13 Oct 2020
Deadline for payment of Levies FSPs are reminded that the FAIS Levy Invoices should have been received by the end of September, with payment due by 31 October 2020. If an FSP has not received their invoice, we suggest that they contact the FSCA to request that this be re-sent to them. Not having received … Continued
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.
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This document illustrates the Privacy Policy for this Website, www.masthead.co.za
Personal Information
The privacy policy illustrates how Masthead (Pty) Ltd protects the information that is provided to it by its users.
Masthead (Pty) Ltd will not sell or rent its user’s personal identifiable information to third parties.
Sharing of Information
Masthead (Pty) Ltd may send personal identifiable information about its users to other companies or third parties should there be a need to share the user’s information in order to provide the product or service the user has requested.
Furthermore, the only information Masthead (Pty) Ltd will ever disclose to third parties is aggregate information about its users. Aggregate information will not identify the website’s users and will only identify the user’s population in general terms.
Electronic Communications
The user consents to the website’s agreements, notices and disclosures by visiting the website and receiving electronic information or communication by electronic means and this indicates that any legal requirements has been satisfied.
Changing of Information
Masthead (Pty) Ltd reserves the right to change the Privacy Policy on an ad hoc basis at its sole discretion. Masthead (Pty) Ltd is not responsible for the content or privacy practices of non-Masthead websites to which it refers.
Contact information
Should you not be satisfied with the information or should any information be found to be untrue or incorrect, please notify Masthead (Pty) Ltd on the following email address: info@masthead.co.za
Masthead (Pty) Ltd and its agents or representatives shall not be liable for any damage, loss or liability arising from the use or inability to use this website or the services or content provided from and through this website.
Information, ideas and opinions expressed on this site should not be regarded as binding advice or the official opinion of Masthead (Pty) Ltd and users are encouraged to consult professional advice before taking any course of action related to information, ideas or opinions expressed on this site.
Masthead (Pty) Ltd has, and will continue to take reasonable care to ensure that all information, in so far as this is under its control, provided on this website is true and correct.
Masthead (Pty) Ltd shall not be responsible for, and therefore disclaims any liability for, any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this website.
There is no warranty of any kind, expressed or implied, regarding the information or any aspect of this service. Any warranty implied by law is hereby excluded except to the extent such exclusion would be unlawful.
Links to other sites
Our website contains links to other sites. Please be aware that Masthead is not responsible for the privacy practices of such other sites. We encourage users to be aware when they leave our site and to read the privacy statements of each and every website that collects personally identifiable information. This privacy statement applies solely to information collected by this website.