By Tamara Jacobsen, Director, Applied Learning Academy
www. appliedlearning. co. za
The effective date of major changes to the Fit and Proper requirements under the Financial Advisory and Intermediary Services Act has been confirmed as April 1, 2018. The content of the Regulatory ... Read More »
Patrick Bracher, Director
Norton Rose Fulbright South Africa Inc.
A previous draft of the Short-term Insurance Regulations included policy data administrative services (PDAS) as a service attracting remuneration of 2% of premium. ... Read More »
The long anticipated amended “Determination of Fit and Proper Requirements for Financial Services Providers, 2017” was finally printed in December last year. The amended determination comes into effect on 1 April 2018. The competence requirements relating to regulatory examinations contained ... Read More »
The Fit and Proper Requirements 2017 published recently, also provides stipulations on operational ability. Billy Seyffert, COO of Moonstone Compliance and Risk Management, pointed out an important consideration for Key Individuals:
A FSP must have at least one key individual per class of business ... Read More »
Under the old dispensation, Continuous Professional Development (CPD) was the third leg of the journey towards becoming a true professional, after successfully completing the level 1 and 2 regulatory examinations. Now that the level 2 REs have been replaced by line of business and product specific training ... Read More »
A set of ruled defined by the Insurance Acts with the aim to enable a policyholder to make informed decisions in regard to insurance products and to ensure that the parties involved conduct business fairly and with due care and diligence.