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Moonstone Monitor | 10 April 2025

IN THIS WEEK'S ISSUE

Top stories

•	Future-proof cover critical as multiple illness claims climb
•	Suicide-related life claims surge by 62% over five years
•	Moonstone is positioned to provide guidance amid COFI uncertainty
•	Dismissal may void restraint of trade, says Labour Court

In the news

•	Updated POPIA compliance: data breach reporting must be online
•	FSCA confirms first-day calculation for late-payment interest
•	Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration
•	Groceries, gadgets and gaps: where two-pot savings are really going
•	Proposed private security regulations ‘require risk assessment, not disarmament’
•	Retirement pot withdrawals could undermine long-term savings
•	Judgment clarifies approval of director appointments under the Insurance Act
•	Court backs FST’s decision to scale down penalty for insurance breach
•	Labour Court applications go fully digital
•	‘Investment scheme’ falsely claims ties to Kallie Kriel and Steve Hofmeyr

Learn with MBSE

•	CPD – We are an authorised CPD provider
•	Class of Business training
•	Short courses – Popia, NCA, Fica, Entrepreneurship
•	Accredited qualifications – NQF 4 to NQF 8

Careers Platform

•	Advertising packages
•	Industry positions
•	Moonstone positions

In Lighter Wyn

•	To boldly go...

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Are your members using Two-pot responsibly? A GTC perspective on the matter.

Are your members knowledgeable about the impact of their Two-pot decision?

Are you on top of your clients’ claims and payouts. What members are saying about

GTC’s Two-pot engagement process.

Have you used Two-pot to improve your relationship with your retirement fund clients?

Contact CEO, Gary Mockler at gmockler@gtc.co.za.

Discovery Life’s claims report reveals a sharp rise in repeat severe illness claims and a growing need to factor child protection into long-term insurance strategies.

Discovery Life’s claims data reveals rising risks, with increasing concerns about mental health and skin cancer.

Moonstone is positioned to provide guidance amid COFI uncertainty

Moonstone’s innovative approach to compliance, rooted in deep expertise and tailored guidance, is poised to help financial institutions not only comply but also thrive.

Dismissal may void restraint of trade, says Labour Court

A recent judgment suggests employers may lose the right to enforce restraints of trade when they terminate staff for misconduct.

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IN THE NEWS

Updated POPIA compliance: data breach reporting must be online

From 1 April, all security breaches must be reported solely via the Information Regulator’s online portal, not by email.

FSCA confirms first-day calculation for late-payment interest

The revised interpretation, which reverses the Authority’s earlier guidance, aligns with the Office of the Pension Funds Adjudicator’s view.

Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration

The Conduct Standard outlines a series of updated requirements for benefit administrators, including governance enhancements, risk management protocols, and processes for ensuring fair outcomes for fund members and beneficiaries.

Groceries, gadgets and gaps: where two-pot savings are really going

Sanlam reports that most withdrawals came from financially strained members in mid-life, with little evidence that funds were used to reduce debt. Instead, spending patterns suggest pressure to cover everyday expenses.

Proposed private security regulations ‘require risk assessment, not disarmament’

PRISA’s chief executive says the proposed amendments focus on evaluating the necessity of using certain weapons through a mandatory risk assessment process.

Retirement pot withdrawals could undermine long-term savings

Danie van Zyl of Sanlam Corporate Investments warns that allowing access to retirement components in retrenchment cases might jeopardise long-term savings and place added pressure on trustees.

Judgment clarifies approval of director appointments under the Insurance Act

The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.

Court backs FST’s decision to scale down penalty for insurance breach

The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.

Labour Court applications go fully digital

The transition to mandatory online filing aims to streamline case initiation, improve document management, and enhance accessibility for all parties involved.

‘Investment scheme’ falsely claims ties to Kallie Kriel and Steve Hofmeyr

The FSCA also warns of scammers impersonating 10X Investments, Prescient, Compsure Insurance, and Viviers Brokers.

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CAREERS PLATFORM - INDUSTRY POSITIONS

•

Commercial Lines Underwriter: GVC Insurance Consultants , Pinelands, Cape Town,WC. A well-established brokerage, based in Pinelands, is seeking a qualified Commercial Lines Underwriter to join their team. This is a permanent position within the Commercial Lines division, responsible for connecting clients with tailored coverage solutions.

•	Short-Term Insurance Commercial Lines Underwriter: Intasure (PTY) Ltd, Cape Town, Southern Suburbs. A well-established Insurance Brokerage in Cape Town, Southern Suburbs requires the services of an office based Commercial Lines Underwriter.

•	Broker Support Administrator : Intellisure Insurance Brokers, Newlands, Cape Town. An organised and competent Broker Support Administrator is required by a High Networth short term insurance brokerage based in Newlands, Cape Town.

•

Compliance Officer: Trive South Africa – Licensed Financial Services Provider (FSP27231), Gauteng/Cape Town, South Africa. We are seeking a detail-oriented and knowledgeable Compliance Officer to join our team. The Compliance Officer will be responsible for ensuring that the company adheres to all regulatory requirements and internal policies, promoting a culture of compliance and ethical conduct throughout the organization.

•	Experienced Financial Planners: Advisory Partners Collective,Sandton,Gauteng. Join Advisory Partners Collective and take your career to the next level with top-tier support, cutting-edge resources, and a powerful network for success.

CAREERS PLATFORM - MOONSTONE POSITIONS

•	For career opportunities currently available at Moonstone please click the button below.

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IN LIGHTER WYN

To boldly go...

Irish words of wisdom 3

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