FICA lessons from FSP fined R1.1m
FICA lessons from FSP fined R1.1m

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Moonstone Monitor | 3 October 2024
IN THIS WEEK'S ISSUE
Top stories
As medical schemes announce hikes, members brace for tough choices amid rising costs
Small FSP that was fined R1.1m shares four lessons in FICA compliance
Markus Jooste among major offenders as FSCA fines surge
In the news
Squirrelling away financial wisdom: children’s books make money smarts fun
Why Discovery’s fund members are making two-pot withdrawals
Opportunity for young professionals to start their financial journey in the right way
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Accidental confession leads to conviction in insurance pay-out murder
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TOP STORIES
As medical schemes announce hikes, members brace for tough choices amid rising costs
With major medical schemes reporting average contribution hikes exceeding 9%, members face tough choices in an increasingly unaffordable healthcare landscape.
Top story read button
Small FSP that was fined R1.1m shares four lessons in FICA compliance
The owner of MIKA Finansiele Dienste emphasises that waiting for an audit before getting your house in order can have costly consequences.
Top story read button
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
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IN THE NEWS
Squirrelling away financial wisdom: children’s books make money smarts fun
During Financial Planning Week, Moonstone Business School of Excellence applauds Foord’s initiative to promote financial literacy among young children.
Itn read button
Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
Top story read button
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
In the news 3 read button
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
In the news 4 read button
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
In the news 5 read button
Accidental confession leads to conviction in insurance pay-out murder
A woman and her accomplice were each sentenced to 26 years in prison for murdering her uncle so she could benefit from his life cover.
In the news 6 story read button
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Career opportunities
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CAREERS PLATFORM - INDUSTRY POSITIONS
 
Commercial Lines Admin Assistant (Underwriter): Porcupine Union, Centurion, Gauteng. Our client is looking for a Commercial Lines Admin Assistant (Underwriter) who will be responsible for generating commercial business quotations on new clients and existing clients, file preparation and activation with product provider on completion of the other marketer’s advice process..
Read https://careers.moonstone.co.za/job/porcupine-union-centurion-gauteng-commercial-lines-admin-assistant-underwriter/more
Treasury Trader: Remgro Management Services Ltd, Stellenbosch, WC. Remgro Management Services Ltd is a category 1 FSP, offering a position to a representative with experience in money market instruments, deposits and derivative instruments to facilitate various companies’ cash needs according to their individual mandates.
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Broker Support Administrator: Intellisure Insurance Brokers, Newlands, Cape Town. A bright, highly capable, organised, hardworking and adept full time Broker Support Administrator is required by a professional short term insurance brokerage based in Newlands, Cape Town.
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Commercial Insurance Sales Executive: Commrisk Insurance Brokers, George,WC. The CISE’s primary focus is on identifying potential clients, presenting them with suitable product proposals and confirming policy sales. They must build relationships with clients to ensure retention of business and facilitate new business.
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Short-term Insurance Underwriter: Short-term Insurance Underwriter, George,WC. The underwriter is responsible for short-term insurance policy administration (renewals, endorsements and new business) providing excellent service and solutions to account executives, brokers and clients.
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Commercial Insurance Sales Executive: Commrisk Insurance Brokers, Western Cape. The successful candidate will be responsible for identifying potential clients, presenting them with suitable product proposals and confirming policy sales.
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Claims Negotiator: CIA Building Insurance Specialists , Bedfordview,GP. CIA Building Insurance part of the worldwide Hannover Re Group and one of the largest Underwriting Managers in South Africa, is currently looking for an experienced claims negotiator to join our claims team in Bedfordview.
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Retentions Consultant: King Price Insurance,Pretoria, Gauteng. The purpose of this position is to communicate with clients and managing relationships in order to increase loyalty and retain their business.
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Manager: Fund Administration: GIB Financial Services (Pty) Ltd, Sandton. This position requires an energetic person who is able to work well under pressure and supervise a dynamic team.
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Short-Term Insurance Commercial & Personal Lines Position: Elna Rudman Brokers,Pretoria,Gauteng. A well-established Insurance Brokerage in Pretoria East requires the services of an office based Personal Lines Underwriter.
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Compliance Manager: King Price Insurance,Pretoria, Gauteng. Minimum 3-5 years’ experience in a compliance management position with in-depth knowledge of the non-life insurance industry and applicable legislation (Insurance Act, Short-term Insurance Act, FAIS Act, POPIA).
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CAREERS PLATFORM - MOONSTONE POSITIONS
 
For career opportunities currently available at Moonstone please click the button below.
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