FSCA fines and debars VBS-linked broker
FSCA fines and debars VBS-linked broker

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Moonstone Monitor | 17 October 2024
IN THIS WEEK'S ISSUE
Top stories
ConCourt clarifies when medical schemes can cancel membership for non-disclosure
R3m fine and 10-year debarment for VBS-linked adviser
MBSE’s first cohort of students praise detailed RE 5 training
In the news
FSCA’s first enforcement action for unauthorised trading signals
The rise of ‘non-attack’ data claims in a changing cyber landscape
Banxso: FSCA suspends licence and FIC freezes bank accounts
Former TETA CEO sentenced to 7 years for role in Fidentia scandal
CMS aims to release long-awaited report into racial profiling by year-end
Medical scheme contribution hikes for 2025: what’s driving the surge?
Cautious investors pivot to domestic assets as rand strengthens post-election
New OHS guide: essential resource for employers and workers
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In Lighter Wyn
Play on words
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Are your members using Two-pot responsibly? A GTC perspective on the matter.

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

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TOP STORIES
ConCourt clarifies when medical schemes can cancel membership for non-disclosure
Medical schemes cannot cancel membership based solely on the non-disclosure of a diagnostic procedure that does not lead to the diagnosis of a serious medical condition.
Top story read button
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
Top story read button
MBSE’s first cohort of students praise detailed RE 5 training
MBSE’s RE training equips students with the knowledge and skills they need to approach the RE 5 exam confidently.
Top story read button
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IN THE NEWS
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
Itn read button
The rise of ‘non-attack’ data claims in a changing cyber landscape
The Allianz Commercial Cyber Security Resilience report shows that the costs associated with certain data privacy breach claims can match or surpass those of ransomware incidents.
Top story read button
Banxso: FSCA suspends licence and FIC freezes bank accounts
The Authority says its investigation raises concerns about aggressive sales tactics, unrealistic returns, and significant losses by clients.
In the news 3 read button
Former TETA CEO sentenced to 7 years for role in Fidentia scandal
Court finds that Pieter Bothma accepted bribes to facilitate unauthorised investments, laundering millions for Fidentia’s directors.
In the news 4 read button
CMS aims to release long-awaited report into racial profiling by year-end
Launched in 2019, the inquiry sought to investigate allegations of racial profiling by medical schemes. As 2024 draws to a close, the CMS is still battling objections and technical reviews to finalise the report.
In the news 5 read button
Medical scheme contribution hikes for 2025: what’s driving the surge?
Contribution increases in 2025 are exceeding CPI, with some medical schemes aiming to rebuild reserves and ensure long-term sustainability.
In the news 6 story read button
Cautious investors pivot to domestic assets as rand strengthens post-election
The stronger rand has shifted the focus back to domestic equities and property. Managers leaning into local value and shedding expensive offshore assets are reaping the rewards of this pivot.
In the news 7 read button
New OHS guide: essential resource for employers and workers
A newly published guide by the Department of Employment and Labour provides vital information on occupational health and safety.
In the news 8 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.
Read more
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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CAREERS PLATFORM - MOONSTONE POSITIONS
 
For career opportunities currently available at Moonstone please click the button below.
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IN LIGHTER WYN
Play on words

Irish words of wisdom 3

I asked the librarian whether the library had any books on paranoia.
She whispered: “They’re right behind you …”

I’ve just released my own fragrance.
Nobody in the car seemed to like it.

The first rule of Passive-Aggressive Club is …
You know what? Never mind. It’s fine.

Singing in the shower is all fun and games until you get shampoo in your mouth. Then it becomes a soap opera.

I was walking past a farm and a sign said: “Duck, eggs.”
I thought: “That’s an unnecessary comma. And then it hit me.”

“Follow your dreams,” they said. So, I went back to bed.

I used to hate facial hair, but then it grew on me.

Thought for the day: When you clean out a vacuum cleaner, you become a vacuum cleaner.

Cumin

 

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