How COFI will affect the retirement industry
How COFI will affect the retirement industry

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Moonstone Monitor | 7 November 2024
IN THIS WEEK'S ISSUE
Top stories
FSCA and PA to revamp funeral insurance regulations – call for stakeholder input
How the COFI Bill will affect the retirement industry
FAIS Ombud erred in dismissing complaint against insurance broker, says Tribunal
Life insurers, investment companies report a 46% surge in fraud and dishonesty
In the news
No-cost webinar on FICA compliance in the agricultural sector
No more spam calls? Proposed amendment introduces opt-out registry
Accountable institutions given final deadline for DPI
Insured’s expert witness more credible than the insurer’s, judge finds
FSCA fines and debars retirement fund administrator’s directors
Online trader fined R1 million and debarred for 12 years
FSCA investigating Solis Markets following complaints from investors
Clientèle aims to expand mass market reach with another acquisition
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In Lighter Wyn
How children perceive their grandparents
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TOP STORIES
FSCA and PA to revamp funeral insurance regulations – call for stakeholder input
Inputs provided during workshops in 2025 will guide the formulation of ‘a pragmatic and balanced approach’ to the regulation and supervision of funeral insurance.
Top story read button
How the COFI Bill will affect the retirement industry
The ‘imminent’ COFI Bill will introduce the licensing of retirement funds (including public sector funds), stricter board member standards, and enhanced oversight of contributing employers.
Top story read button
FAIS Ombud erred in dismissing complaint against insurance broker, says Tribunal
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
Top story read button
Life insurers, investment companies report a 46% surge in fraud and dishonesty
The industry lost at least R175.9 million last year but prevented losses of R1.5 billion through enhanced detection efforts, says ASISA.
Top story read button
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IN THE NEWS
No-cost webinar on FICA compliance in the agricultural sector
If you’re in the agricultural sector and deal in high-value goods, you may be subject to FICA. Moonstone Compliance’s free webinar will unpack what compliance entails.
Itn read button
No more spam calls? Proposed amendment introduces opt-out registry
A proposed amendment to the Consumer Protection Act aims to establish an opt-out registry, allowing consumers to block unsolicited marketing messages.
Top story read button
Accountable institutions given final deadline for DPI
Following widespread challenges with its e-portal, the FSCA has re-opened submissions for its Directive to Provide Information.
In the news 3 read button
Insured’s expert witness more credible than the insurer’s, judge finds
The court ruled that MiWay’s expert analysis relied too heavily on assumptions, while overlooking the driver’s account that he swerved to avoid a dog.
In the news 4 read button
FSCA fines and debars retirement fund administrator’s directors
Fund members lost at least R470m after N-e-FG’s high-risk investments went south in 2021. Now, two of its directors have been fined R30m each.
In the news 5 read button
Online trader fined R1 million and debarred for 12 years
The Authority’s investigation found that most of Lehumo Securities’ client funds were not invested, and returns were paid out from the funds collected.
In the news 6 story read button
FSCA investigating Solis Markets following complaints from investors
The Authority also warns about fraudsters impersonating HF Markets, and urges caution when doing business with FXNONSTOP and Tiger Agriculture.
In the news 7 read button
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
In the news 8 read button
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IN LIGHTER WYN
How children perceive their grandparents

I was in the bathroom putting on my makeup under the watchful eyes of my young granddaughter as I had done many times before. After I applied my lipstick and started to leave, the little one said: “But grandma, you forgot to kiss the toilet paper good-bye.” I will probably never put lipstick on again without thinking about kissing the toilet paper good-bye.

My young grandson called the other day to wish me “happy birthday”. He asked me how old I was, and I told him, 68. My grandson was quiet for a moment and then asked: “Did you start at 1?”

After putting her grandchildren to bed, a grandmother changed into old slacks and a droopy blouse and proceeded to wash her hair. As she heard the children getting more and more rambunctious, her patience grew thin. Finally, she threw a towel around her head and stormed into their room, putting them back to bed with stern warnings. As she left the room, she heard the three-year-old say with a trembling voice, “Who was that?”

A grandmother was telling her little granddaughter what her own childhood was like. “We used to skate outside on a pond. I had a swing made from a tyre; it hung from a tree in our front yard. We rode our pony. We picked wild raspberries in the woods.” The little girl was wide-eyed, taking this all in. At last, she said, “I sure wish I’d gotten to know you sooner.”

My grandson was visiting one day when he asked, “Grandma, do you know how you and God are alike?” I mentally polished my halo and said, “No, how are we alike?” “You’re both old,” he replied.

A little girl was diligently pounding away on her grandfather’s word-processor. She told him she was writing a story. “What’s it about?” he asked. “I don’t know,” she replied. “I can’t read.”

I didn’t know whether my granddaughter had learned her colours yet, so I decided to test her. I would point out something and ask what colour it was. She would tell me and was always correct. It was fun for me, so I continued. At last, she headed for the door, saying, “Grandma, I really think you should try to figure out some of these colours yourself.”

When my grandson and I entered our vacation cabin, we kept the lights off until we were inside to keep from attracting insects. Still, a few fireflies followed us in. Noticing them before I did, he whispered, “It’s no use, grandpa. Now the mosquitoes are coming after us with flashlights.”

When my grandson asked me how old I was, I teasingly replied, “I’m not sure.” “Look in your underwear, grandpa,” he advised. “Mine says I’m 4 to 6.”

A second-grader came home from school and said to her grandmother, “Grandma, guess what? We learned how to make babies today.” The grandmother, more than a little surprised, tried to keep her cool. “That’s interesting,” she said. “How do you make babies?” “It’s simple,” replied the girl. “You just change ‘y’ to ‘i’ and add ‘es’.”

Children’s logic: “Give me a sentence about a public servant,” said a teacher. The small boy wrote: “The fireman came down the ladder pregnant.” The teacher took the boy aside to correct him. “Don’t you know what pregnant means?” she asked. Yes,” said the young boy confidently. “It means carrying a child.”

A grandfather was delivering his grandchildren to their home one day when a fire truck zoomed past. Sitting in the front seat of the fire truck was a Dalmatian dog. The children started discussing the dog’s duties.
“They use him to keep crowds back,” said one child.
“No,” said another. “He’s just for good luck.”
A third child brought the argument to a close. “They use the dogs,” she said firmly, “to find the fire hydrants.”

A 6-year-old was asked where his grandmother lived. “Oh,” he said, “she lives at the airport, and whenever we want her, we just go get her. Then, when we’re done having her visit, we take her back to the airport.”

My grandpa is the smartest man on earth. He teaches me good things, but I don’t get to see him enough to get as smart as him.

My grandparents are funny. When they bend over, you hear gas leaks, and they blame their dog.

Plagiarism

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