Posted on 15 Sep 2020
In Part 1 and Part 2 of our RDR series we looked at the consultation paper on Advisor Categorisation. In Part 3 we turned to the second consultation paper on Investment-related matters published at the end of 2019, and focused on how investment management will be defined and categorised from a licencing perspective, the impact … Continued
Posted on 15 Sep 2020
The FSCA recently published FSCA Communication 46 of 2020 on the use of pre-populated records of advice. The practice in the industry of using prepopulated records of advice for replacements have proved, in various instances, to contain incorrect advice based on factual errors. Such errors result in advice being provided on incorrect comparisons of policy wording, … Continued
Posted on 15 Sep 2020
The Financial Sector Conduct Authority (FSCA) published FSCA Notice 443 of 2020 on the Levies for Financial Institutions, 2020. The Notice has been through the consultation phase with interested parties having submitted their comments. Masthead considered the impact of the proposed increases in levies on independent financial advisors and submitted comments to the FSCA. For the … Continued
Posted on 15 Sep 2020
In 2017, the then FSB published FAIS Notice 110 of 2017 exempting Category I FSPs that are only licenced for Long-term Insurance subcategory A and/or Friendly Society Benefits from the Professional Indemnity (PI) and Fidelity Insurance Cover requirements (paragraphs 3(a) -(c) of BN123 of 2009) for a period of 3 years. The FSCA have recently … Continued
Posted on 15 Sep 2020
The Financial Sector Conduct Authority (FSCA) recently announced in a Press Release that Caroline da Silva, Divisional Executive of Regulatory Policy at the FSCA, has resigned with effect from 31 October 2020. The FSCA Commissioner, Advocate Dube Tshidi said: “During her time at the FSCA, Caroline has been an invaluable member of our executive team … Continued
Posted on 15 Sep 2020
Earlier this year we published the Companies and Intellectual Property Commission (CIPC) Notice on the various arrangements that the CIPC made to cater for its services during the national lockdown amidst the COVID-19 pandemic. The CIPC subsequently confirmed in CIPC Notice 21 of 2020 that where the filing period for Annual Returns falls within the … Continued
Posted on 15 Sep 2020
On 4 September 2020, the Council for Medical Schemes (CMS) published PMB definition guideline: COVID-19 v5 which is an updated version of the Prescribed Minimum Benefits for COVID-19. The major changes in this version of the PMB guideline expands on: Inclusion of the PMB DTP code for COVID-19 PMB recommendations on serological testing Pharmacological management is … Continued
Posted on 15 Sep 2020
Update your Competence Register FSPs must ensure that their Competence Register is updated with CPD activities within 30 days after the expiry of each CPD cycle. Those FSPs that relied on the extended CPD deadline of 31 August 2020 must update their Competence Register by 30 September 2020. CPD Plan FSPs that relied on the … Continued
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