FSCA to embed ‘consumer vulnerability’ in supervision
FSCA to embed ‘consumer vulnerability’ in supervision

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Moonstone Monitor | 21 March 2024
IN THIS WEEK'S ISSUE
Top stories
Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
FSCA to embed ‘consumer vulnerability’ in its approach to supervision and regulation
Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
Markus Jooste fined R475m for publishing misleading Steinhoff financials
In the news
Authority fines another FSP for FICA non-compliance
Unpaid commission: High Court rejects FSP’s set-off defence
An insurer is not a supplier under the Consumer Protection Act
High Court upholds joint liquidators’ role in MTI winding-up
Swix indices on the way out as JSE simplifies benchmarks
New initiative aims to ease home insurance challenges amid climate risks
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TOP STORIES
Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
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FSCA to embed ‘consumer vulnerability’ in its approach to supervision and regulation
The Authority’s Statement on Consumer Vulnerability will inform its engagements with stakeholders, starting this year.
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Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
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Markus Jooste fined R475m for publishing misleading Steinhoff financials
The FSCA is still waiting for him to make good on the reduced fine of R20m imposed in December 2022 for insider trading.
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IN THE NEWS
Authority fines another FSP for FICA non-compliance
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
Itn read button
Unpaid commission: High Court rejects FSP’s set-off defence
The insurance marketer was an independent contractor – no mutual indebtedness existed between him and TWK Agri.
Top story read button
An insurer is not a supplier under the Consumer Protection Act
When seeking compensation from an insurer because of alleged third-party negligence, the best course of action is to pursue the matter in court, the National Consumer Tribunal says.
In the news 3 read button
High Court upholds joint liquidators’ role in MTI winding-up
The High Court ordered the applicants to pay punitive costs, saying their allegations were spurious and damaged the joint liquidators’ reputations.
In the news 4 read button
Swix indices on the way out as JSE simplifies benchmarks
From this month, the ‘vanilla’ indices will adopt the same methodology and therefore have the same weightings as the Swix indices.
In the news 5 read button
New initiative aims to ease home insurance challenges amid climate risks
A pioneering approach that integrates climate data with claims data is set to transform insurance risk management in South Africa.
In the news 6 story read button
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Career opportunities
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CAREERS PLATFORM - INDUSTRY POSITIONS
 
Financial Advisor: Vulindlela Financial Services, Centurion. We are looking for a Financial Advisor who will be responsible for lead generation, setting up client appointments, and closing the sale. If you have excellent networking skills and short-term and long-term insurance sales experience, please send us your CV.
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Claims position: Cooke Fuller Insurance Brokers, Kloof, Durban. We are a well-established, professional and experienced company and are looking for an experienced, assertive individual with strong administration abilities and good interpersonal skills. The candidate must have at least 5 years’ experience in Commercial and Personal claims.
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Senior Administrator: GIB Financial Services (Pty) Ltd, Sandton, Johannesburg. This position requires an energetic person who is able to work well within a dynamic team. The successful candidate should be proficient in Microsoft Excel (V-Lookups, Pivot Tables etc) and have at least 4 years experience in Retirement Fund Administration.
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Outbound Sales Rep Call Centre – Discovery Group Consultancy | U Covered: U-Covered Insurance Solutions, Auckland Park, Johannesburg. This position requires at least 2 year sales experience, as well as a RE5 qualification as per the FAIS Act. COB and CPD certificates will be beneficial.
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Executive Retirement Fund Consultant: GIB Financial Services (Pty) Ltd, Sandton, Johannesburg. GIB is a leading provider of Retirement Fund Services  focused on delivering tailor-made products and solutions that suit our clients’ specific needs. The candidate should have a B Com or similar and have at least 6 years experience in the Employee Benefits industry.
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Outbound Sales Rep Call Centre - Discovery Group Consultancy: U-Covered Insurance Solutions, Auckland Park, Johannesburg. This position requires at least 1 year sales experience, as well as a RE5 qualification, only if you have already worked in financial services for more than 2 years as a Representative as per the FAIS Act..
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Broker Support Administrator: Intellisure Insurance Brokers, Newlands, Cape Town. A bespoke insurance brokerage based in Newlands, Cape Town is currently looking for an extremely competent, dependable, and energetic Broker Support Administrator to manage mainly commercial but also personal insurance portfolios inclusive of claims..
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Sales Consultant: Pioneer Group, Durban. We require successful completion of the RE5, as well as 3-5 years of experience.
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Short Term Insurance Underwriter: The Insurance Center, Westville, Durban. A Westville short term insurance service provider is looking for an experienced personal and commercial underwriter.
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CAREERS PLATFORM - MOONSTONE POSITIONS
 
For career opportunities currently available at Moonstone please click the button below.
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IN LIGHTER WYN
Animal instinct

Beaver bridge

 

Pelican

 

Ten ants

 

Zebra crossing

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