Client must be reimbursed, High Court orders
Client must be reimbursed, High Court orders

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Moonstone Monitor |  30 March 2023
IN THIS WEEK'S ISSUE
Top story
In the news
Enrol in our entry-level qualifications in insurance or financial planning
Why the High Court rejected PSG Wealth’s defences against liability for client’s loss
Prosecutions and jail time ‘is the test SA must pass to get off the grey list’
Beneficial ownership disclosure requirements about to take effect
Habib curatorship unrelated to overseas banking crisis, says Sarb
MPs get more time to obtain legal opinions on NHI Bill
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In Lighter Wyn
Universal laws
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There have been several significant changes to South African retirement fund administration in recent years, including additional regulations in terms of Section 36 of the PFA, (default regulations), the demise of the cash retirement proceeds of provident funds in 2021 (T-day), and the deferred changes in the usage of retirement fund assets for short-term savings (Two-pot system).

Your retirement fund administrator must be on top of all these vagaries and exceptions. Book a presentation of GTC’s complete retirement fund administration solutions for your members, with our CEO Gary Mockler
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Visit our website at www.gtc.co.za.
TOP STORY
Financial services firm caught in email fraud must reimburse client
Hacker gets away with R800 000 after duping PSG Wealth employees twice within 10 days.
Read full article
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IN THE NEWS
Enrol in our entry-level qualifications in insurance or financial planning
With our FETC qualifications, you can study further even if you don’t have a matric certificate.
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IN THE NEWS
Why the High Court rejected PSG Wealth’s defences against liability for client’s loss
PSG contended its liability for loss could not include instances where the client’s computer was hacked because of his negligence.
Read full article
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IN THE NEWS
Prosecutions and jail time ‘is the test SA must pass to get off the grey list’
Intellidex cautions against putting false confidence in exact numbers of the economic impact of grey-listing.
Read full article
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IN THE NEWS
Beneficial ownership disclosure requirements about to take effect
Companies will have to file information with the CIPC about the natural persons who are the beneficial owners of the company.
Read full article
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IN THE NEWS
Habib curatorship unrelated to overseas banking crisis, says Sarb
Habib Overseas Bank has failed to comply with financial sector regulations, including strict exchange control rules, it says.
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IN THE NEWS
MPs get more time to obtain legal opinions on NHI Bill
This comes after opposition MPs walked out of the Portfolio Committee on Health in protest.
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Career opportunities
CAREERS PLATFORM - INDUSTRY POSITIONS
 
Senior Investment Analyst/Senior Para Planner: Global & Local Investment Advisors, Auckland Park, Johannesburg. Global & Local Investment Advisors is looking for an experienced Senior Investment Analyst/Para planner who is willing to work smart and grow with the company.
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Representatives and brokers: Manage All (Pty) Ltd, Pretoria and countrywide. Manage All is an established and authorised financial services provider specialising in Healthcare and Gap Cover products. Applicants must have a reputable track record in the financial services industry and must be fluent in Afrikaans and English.
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Short and Long-term Financial Adviso: Vulindlela Financial Services, Centurion. Vulindlela Financial Services is based in Centurion and has experienced steady growth in the short and long-term markets. We have an exciting new position available and are looking for a motivated and energetic individual to join our dynamic team.
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Provincial Sales Manager: Life Mass Market: iMas Insurance Brokers (Pty) Ltd, Bellville, Western Cape. The ideal candidate will oversee the end-to-end operational management of the Western Cape region. We require a minimum of 4 years’ operational sales experience in life insurance products in the Life Mass Market sales and 3 years’ managerial experience in life insurance products in the Life Mass Market.
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Sales Manager: Business Insurance: iMas Insurance Brokers (Pty) Ltd, Centurion, Pretoria. We are looking for a qualified and experienced individual to manage a team of Independent Contractors. We require at least 4 years' operational experience in business insurance sales and 3 years' managerial experience in business insurance.
Read more
CAREERS PLATFORM - MOONSTONE POSITIONS
 
For career opportunities currently available at Moonstone please click the button below.
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IN LIGHTER WYN
Universal laws
Law of Mechanical Repair: After your hands become coated with grease, your nose will begin to itch, and you’ll have to go to the bathroom.

Law of Gravity: Any tool, nut, bolt or screw, when dropped, will roll to the least accessible corner.

Law of Probability: The probability of being watched is directly proportional to the stupidity of your act.

Law of Random Numbers: If you dial a wrong number, you never get a busy signal, and someone always answers.

Law of the Alibi: If you tell your boss you were late for work because you had a flat tyre, the very next morning you will have a flat tyre.

Variation Law: If you change lines or traffic lanes, the one you were in will always move faster than the one you are in now.

Law of the Bath: Once your body is fully immersed in water, the phone will ring.

Law of Close Encounters: The probability of meeting someone you know increases dramatically when you are with someone you don’t want to be seen with.

Law of the Result: When you try to prove to someone that a machine won’t work, it will.

Law of Biomechanics: The severity of the itch is inversely proportional to the reach.

Law of the Cinema and Stadium: At any event, the people whose seats are furthest from the aisle, always arrive last. They are the ones who will leave their seats several times to go for food or drinks, or to the toilet, and who leave before the movie or the game is over. The people in the aisle seats come early, never move once, have long gangly legs or big bellies, and stay to the bitter end. The aisle people also are very surly.

The Coffee Law: As soon as you sit down to a cup of hot coffee, your boss will ask you to do something, which will last until the coffee is cold.

Murphy’s Law of Lockers: If there are only two people in a locker room, they will have adjacent lockers.

Law of Physical Surfaces: The chances of an open-faced sandwich landing face down on a floor are directly correlated to the newness and cost of the carpet or rug.

Law of Logical Argument: Anything is possible if you don’t know what you are talking about.
Brown’s Law of Physical Appearance: If the clothes fit, they’re ugly.

Oliver’s Law of Public Speaking: A closed mouth gathers no feet.

Wilson’s Law of Commercial Marketing Strategy: As soon as you find a product that you really like, they will stop making it.

Doctor’s Law: If you don’t feel well, make an appointment to go to the doctor. By the time you get there, you’ll feel better. But if you don’t make an appointment, you’ll stay sick.

Paul Kruger’s Law of Bargains and Sales: None of the items in which I am interested is available in my size.
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