Shareholder ties don’t lessen FICA compliance obligations
Shareholder ties don’t lessen FICA compliance obligations

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Investment Indicators | 18 November 2024
IN THIS WEEK's ISSUE
Rates Review
Investment Rates
Money Market Funds
Top 3 Rates
Top stories
Agreement can’t override an FSP’s duty to initiate debarment proceedings
Shareholder ties don’t lessen FICA compliance obligations
Is the two-pot retirement system safe from rising cyber threats?
In the news
Average living annuity drawdown rate lowest in five years
Treasury proposes new framework to regulate hedge funds outside CIS
Concerns about proposed tax policy framework for alcohol industry
Black Friday: don’t let cybercriminals steal your deals
Preparing retirement funds for an uncertain future: embracing change, ESG, and emerging trends
FIC tightens crypto asset compliance with ‘travel rule’ directive
New chief executive and Registrar appointed for the Council for Medical Schemes
Moonstone Update
Regulatory Examinations
Download the latest RE Prep Guide here. Please ensure you download this version to use in your preparation, together with your study material. Please study the tasks, criteria and legislation referenced in the guide.
RE preparation videos
Schedules for 2024
WARNING: Beware of fraudulent operators pretending that they work for or with Moonstone.
Careers Platform
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Industry positions
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ADVERTORIAL
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RATES REVIEW
Secured Investment Rate
Please note that (G) indicates a Guaranteed and (L) a Linked product. In order to understand the difference between guaranteed and linked rates, kindly click here for an explanation.
R1 000 000 (3% commission)
Company This week Last week
1Life (L) 6.150% 6.150%
Clientele (G) 6.112% 6.105%
Discovery (G) 5.852% 5.852%
R1 000 000 (1.5% commission)
Company This week Last week
1Life (L) 6.540% 6.540%
Clientele life (G) 6.432% 6.425%
Discovery (G) 6.239% 6.239%
Money Market Funds
R100 000
Company This week Last week
Allan Gray 8.73% 8.75%
Coronation 8.42% 7.99%
Nedbank 8.41% 8.36%
Please bear in mind that our figures, though based on the actual quotations that you also use, are for information purposes only, and can never replace the official quotation from the product house. In terms of the guarantees, you are requested to clarify the exact extent of such guarantees with the product house prior to advising clients.
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TOP STORIES
Agreement can’t override an FSP’s duty to initiate debarment proceedings
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
Top story read button
Shareholder ties don’t lessen FICA compliance obligations
The Appeal Board dismisses an FSP’s argument that its close ties with its sole shareholder reduced the need for comprehensive due diligence.
Top story read button
Is the two-pot retirement system safe from rising cyber threats?
Biometric expert Murray Collyer explains how the latest technological advancements can prevent fraud and protect your retirement savings in a rapidly evolving digital world.
Top story read button
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FICA banner
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IN THE NEWS
Average living annuity drawdown rate lowest in five years
The marginal decrease in the average drawdown rate is noteworthy because it occurred in an environment of rising living costs, says ASISA.
Itn read button
Treasury proposes new framework to regulate hedge funds outside CIS
The proposal is for hedge funds to be subject to a different tax regime, potentially removing the ‘revenue versus capital distinction’ that causes tax uncertainty.
Top story read button
Concerns about proposed tax policy framework for alcohol industry
The proposed minimum unit price for alcohol could make drinking less affordable and curb harmful consumption, but critics argue it may unintentionally fuel the already substantial illicit alcohol market.
In the news 3 read button
Black Friday: don’t let cybercriminals steal your deals
Black Friday promises incredible deals, but it also opens the door to potential fraud. From phishing scams to counterfeit cards, fraud experts highlight key strategies to keep your credit safe and protect your new purchases.
In the news 4 read button
Preparing retirement funds for an uncertain future: embracing change, ESG, and emerging trends
Carina Wessels of Alexforbes discusses the urgent need for retirement funds to ‘learn forward as they lean forward’ to ensure long-term sustainability and relevance.
In the news 5 read button
FIC tightens crypto asset compliance with ‘travel rule’ directive
Starting 30 April 2025, CASPs and FSPs will have to collect and share detailed client information when engaging in crypto transfers.
In the news 6 story read button
New chief executive and Registrar appointed for the Council for Medical Schemes
Dr Musa Gumede steps into the role of Registrar of the CMS, succeeding Dr Sipho Kabane, whose tenure was marked by significant challenges and critical industry reforms.
In the news 7 read button
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F & P - Gold - 4 Export-live-chat
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MOONSTONE UPDATE 11 TO 14 NOVEMBER 2024
FSCA disputes Banxso’s claims about deepfake adverts
Watch Moonstone Update for an overview of some of the stories covered in the past week's Moonstone newsletters.


Moonstone Update 2023-12-01

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Career opportunities
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Risk and Compliance Officer: FinGlobal Migration Pty Ltd, Hermanus, Western Cape, South Africa. This permanent role offers a competitive salary, 21 leave days, and comprehensive benefits, including group life, pension, and medical insurance.
Read https://careers.moonstone.co.za/job/porcupine-union-centurion-gauteng-commercial-lines-admin-assistant-underwriter/more
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