19 January 2021 Archives

Creating an effective Complaints Management Framework

Posted on 19 Jan 2021

Amendments to the General Code of Conduct (GCoC) highlight again the importance of Treating Customers Fairly (TCF) and dealing efficiently with client complaints. With some of the amendments having taken effect on 26 December 2020, it’s important to revisit client service and client satisfaction in your FSP. Client satisfaction plays an essential role in the … Continued

Keep clients close through client reviews

Posted on 19 Jan 2021

It is now more important than ever to be proactive during this current lockdown phase and keep your clients close to you. We are in very uncertain and tumultuous times, and you have probably experienced this in your business. Your clients may be, at best, reluctant to invest and, at worst, withdrawing and realising their … Continued

2021 Key Compliance Dates

Posted on 19 Jan 2021

A number of significant changes were introduced to the financial services industry in 2020, with amendments made to the General Code of Conduct (GCOC) and Fit and Proper requirements. Furthermore, all entities, including Financial Services Providers (FSPs), will also have to comply with the provisions of The Protection of Personal Information (POPI) Act by 30 … Continued

Draft Conduct Standard published for CIS Managers

Posted on 19 Jan 2021

During December 2020, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard setting out the principles and fit and proper requirements that Collective Investment Schemes (CIS) managers must comply with on an ongoing basis. The current Board Notice (BN 910) dealing with matters pertaining to fit and proper requirements of CIS managers which … Continued

Update on Contingent Business Interruption Insurance Cover – legal certainty provided

Posted on 19 Jan 2021

The effect of the COVID-19 pandemic and resultant national lockdown has had an economic impact on several businesses across South Africa. Many businesses especially those in the hospitality and food service industries were faced with operational restrictions leading to a high rise in claims on business interruption policies. However, with legal complexities surrounding Contingent Business … Continued

New Council for Medical Schemes Regulator

Posted on 19 Jan 2021

In December 2020, the Minister of Health, Dr Zweli Mkhize announced the appointment of a new Council for the Council for Medical Schemes (CMS), taking into account the interests of members and medical schemes. The Council, which is empowered by the Medical Schemes Act (131 of 1998), consists of 15 members that represent a variety … Continued

COVID-19 vaccine included as PMB

Posted on 19 Jan 2021

The Council for Medical Schemes (CMS) has been in continuous engagements co-ordinating public-private sector collaborations aimed at ensuring that there is universal access to the COVID-19 vaccine. As a result, the COVID-19 vaccine has been included in the amended Prescribed Minimum Benefit regulations which were recently approved by the Minister of Health Dr. Zweli Mkhize. … Continued

Reminders – 19 January 2021

Posted on 19 Jan 2021

Product Specific Training FSPs are reminded that Product Specific Training must be completed prior to rendering any financial service in respect of a particular financial product, which must include keeping up to date with any changes or amendments to financial products. The COVID-19 pandemic may result in product providers reconsidering benefits and/or exclusions in respect … Continued

MASTHEAD IS

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

19 January 2021

Creating an effective Complaints Management Framework

Keep clients close through client reviews

2021 Key Compliance Dates

Draft Conduct Standard published for CIS Managers

Update on Contingent Business Interruption Insurance Cover – legal certainty provided

New Council for Medical Schemes Regulator

COVID-19 vaccine included as PMB

Reminders – 19 January 2021

EARN CPD HOURS

Mastering Compliance Newsletters

19 January 2021

Creating an effective Complaints Management Framework

Keep clients close through client reviews

2021 Key Compliance Dates

Draft Conduct Standard published for CIS Managers

Update on Contingent Business Interruption Insurance Cover – legal certainty provided

New Council for Medical Schemes Regulator

COVID-19 vaccine included as PMB

Reminders – 19 January 2021

EARN CPD HOURS

MASTHEAD IS

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CONTACT US

+27 21 686 3588

info@masthead.co.za

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