FIA

2 September 2010.

FIANB2010 # 045 Circular to all FIA members regarding the Insurance Laws Amenment Act.

Dear Member

Please see the attached Circular and Draft Binder Agreeement documents for both Long-Term and Short-Term regarding the regulations to the ILAA. This document is of huge importance and will have an impact on all members of the FIA. In order to manage the responses we request that any questions be channeled through me at the FIA National Office by no later than the 8th October. This will give us the opportunity to coordinate the responses with the FSB by the deadline of the 31st October 2010. This date will not be extended as the draft regulations will need to be put before Parliament by early November 2010.

1 September 2010.

FIANB2010 # 044 Regulatory Exams on Level 1/Regulatoriese Eksamens op Vlak 1

Dear Member

Please read the attached article on the regulatory exams and make an effort to follow the guidelines contained therein.

I have also attached a list of the relevant legislation that should be studied for the exams.

You can purchase the following publication that contains the qualifying criteria and applicable legislation:

Financial Intelligence Centre Act/Financial Advisory and Intermediary Services Act

Juta’s Pocket Statutes

ISBN no. 9780702182082

Available at Van Schaik’s Bookstores – www.vanschaik.com

Price R95-00

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ALLE LEDE

Geagte Lid

Lees asseblief die aangehegte artikel oor die regulatoriese eksamens en wend ‘n poging aan om die riglyne daarin vervat na te volg.

Ek heg ook ‘n lys aan van die relevante wetgewing wat bestudeer behoort te word vir die eksamens.

U kan die volgende publikasie aankoop wat die kwalifiseringskriteria en toepaslike wetgewing bevat:

Financial Intelligence Centre Act/ Financial Advisory and Intermediary Services Act

Juta’s Pocket Statutes

ISBN no. 9780702182082

Beskikbaar by Van Schaik’s Boekwinkels – www.vanschaik.com

Prys R95-00

FIANB2010 # 043 Letter from Keith Kennedy regarding the article in Sake Rapport 29 August 2010.

Dear Member

Mutual and Federal press report:

An article with an unfortunate headline referring to the demise of the broker appeared in the Sake Rapport on Sunday 29 August and quoted Keith Kennedy, MD of Mutual and Federal. The FIA reacted immediately by asking for clarification and recieved assurance that Keith did not make any such statement.

Please read the attached letter which clarifies the Mutual and Federal position.

Attachment- Sake_Rapport_article_-_letter_to_FIA_31Aug_pdf 

1 September 2010.

FIANB2010 # 043 Brief van Keith Kennedy in verband met die artikel in Sake Rapport 29 Augustus 2010.

Geagte Lid

Mutual and Federal persverklaring:

Die Sake Rapport van Sondag 29 Augustus het ‘n berig geplaas onder die opskrif “Makelaar verdwyn sê Hoof van Mutual and Federal”. In die berig is Keith Kennedy, Bestuurende Direktuur van Mutual and Federal aangehaal. Die FIA het onmiddelik gereageer en gevra vir uitklaring van die onrusbarende stelling. M&F het die versekering gegee dat Keith Kennedy nie sodanige stelling gemaak het nie.

Sien asseblief die meegaande amptelike verklaring van Mutual and Federal aangaande hulle standpunte.

- Aanhangsel- Sake_Rapport_article_-_letter_to_FIA_31Aug_-_Afr_pdf (2)

30 August 2010.

 FIANB2010 # 042 FSB Workshops Satellite Sessions

Dear Member

Please see the attached document regarding the ‘Satellite Workshop Sessions’ offered by the FSB.

The highlighted numbers indicate where space is still available.

Attachment- FSB_Satellite_Sessions_ _2_

27 August 2010.

FIANB2010 #041 FIA Weekly Indaba

Dear Member

You will soon be recieving a new form of communication from the FIA called the FIA Weekly Indaba. This will be replacing the memorandums that members have been inundated with. The format of the FIA Weekly Indaba will be similar to that of the FIA Inform. There will be a general section and a section for each of the various pillars of the FIA, in other words Short-Term, Financial Planning, Healthcare, Employee Benefits, a quarterly summary of discussions held at the various exco’s. The Weekly Indaba will appear in the members only section of the FIA website which means that a member will have to log on using their membership number as the login and password.

The other communications will continue as follows:

The FIA INSIGHT Magazine will remain a quarterly publication that will be sent to members with an electronic version appearing on the website approximately two weeks after publication.

The FIA INFORM a monthly technical newsletter which will be sent by bulk-mail to members and will also be posted on the website.

The FIA Memorandum which will be sent to members as and when required with an electronic version posted on the website.

The FIA Weekly Indaba as mentioned above.

23 August 2010.

FIANB2010 # 040 Regulatory Exams Study Material

ALL MEMBERS

Dear Member

There is more study material available for the regulatory exams on level 2:

• Short-term insurance personal lines
• Short-term insurance commercial lines
• Healthcare benefits

These documents can be downloaded from the INSETA website:

• www.inseta.org.za
• Hold the cursor on FAIS Assessments on the left side of the main page
• Click on FAIS Learning Material
• Complete the required details and click on submit
• The above steps will take you to the study material which you can download for free

The above process must be followed due to copyright on the material and for INSETA to keep a record of the number of downloads.

23 Augustus 2010.

FIANB2010 # 040 Regulatoriese Eksamen Studie Materiaal

ALLE LEDE

Geagte Lid

Daar is nog studie materiaal beskikbaar vir die regulatoriese eksamens op vlak 2:

• Korttermynversekering persoonlike lyne
• Korttermynversekering kommersiële lyne
• Gesondheidsorgvoordele

Hierdie dokumente kan van die INSETA webwerf afgelaai word:

• www.inseta.org.za
• Hou die pyltjie op FAIS Assessments aan die linker kant van die hoofbladsy
• Klik op FAIS Learning Material
• Voltooi die gevraagde besonderhede en klik op submit
• Bogenoemde stappe sal u na die studiemateriaal neem wat u gratis kan aflaai

Bogenoemde proses moet gevolg word weens kopiereg op die materiaal en vir INSETA om rekord te hou van die getalle wat afgelaai word.

18 August 2010.

 FIANB2010  #039 What a Client Wants

Dear Member

Please see the attached article for your perusal by Professor Jan Venter who is a Professor of Taxation at the University of South Africa on ‘What a Client Wants’, that appeared in the Personal Finance magazine 1st Quarter 2010.

As can be seen the most important factor that clients consider when selecting a financial adviser is his or her adherence to a professional code of ethics and practice standard. This is a finding of a study that was conducted among users of financial services in which they were asked to describe various aspects of their relationships with their financial advisers.

Attachment- What_a_client_wants (2) 

  17 August 2010.

#038 FAIS Workshops

URGENT

ALL MEMBERS

Dear Member

Please view the attached document about FAIS workshops that will be hosted by the FAIS Supervision Department during September to November 2010. Note that bookings open only at 09h00 on Monday, 23 August 2010 and will be done on a “first-come-first-served” basis.

You may book for each session that applies to you.

Please do not try to book through the FIA. You must book directly with the FSB as the attached document explains.

Attachment- Circular_8 

17 Augustus 2010.

#038 FATD Werkswinkels

  DRINGEND

ALLE LEDE

Geagte Lid

Besigtig asseblief die aangehegte dokument oor werkswinkels wat deur die FATD Toesighouding Departement aangebied word gedurende September tot November 2010. Let daarop dat besprekings slegs open om 09h00 op Maandag, 23 Augustus 2010 en gedoen sal word op ‘n “eerste-daar-eerste-bedien” basis.

U mag bespreek vir elke sessie wat op u van toepassing is.

Moet asseblief nie deur die FIA probeer bespreek nie. U moet direk by die RFD bespreek soos die aangehegte dokument verduidelik.

 Attachment- Circular_8

 12 August 2010

#037 Pilot Exams

MEMBERS WHO WROTE THE PILOT EXAMS FOR KEY INDIVIDUALS OR REPRESENTATIVES

Dear Member

If you wrote one of the pilot exams mentioned above on 10, 11 or 12 August 2010, you are welcome to send me your comments on the exam.

My e-mail address: joe@fia.org.za

12 Augustus 2010.

# 037 LOODSEKSAMENS

LEDE WAT DIE LOODSEKSAMENS VIR SLEUTELPERSONE OF VERTEENWOORDIGERS GESKRYF HET

Geagte Lid

Indien u een van die loodseksamens hierbo genoem geskryf het op 10, 11 of 12 Augustus, is u welkom om u kommentaar oor die eksamen aan my te stuur.

My e-pos adres:  joe@fia.org.za

06 August 2010.

# 036 FAIS Circular 7 of 2010.

ALL MEMBERS

Dear Member

Please view FAIS_CIRCULAR_7_2010 for news on the regulatory exams.

We expect the cost of the exams to be announced soon, to be followed by the announcement of the starting date of the official exams.

12 Augustus 2010.

 #037 Loodseksamens

LEDE WAT DIE LOODSEKSAMENS VIR SLEUTELPERSONE OF VERTEENWOORDIGERS GESKRYF HET

Geagte Lid

Indien u een van die loodseksamens hierbo genoem geskryf het op 10, 11 of 12 Augustus, is u welkom om u kommentaar oor die eksamen aan my te stuur.

My e-pos adres:  joe@fia.org.za

 06 Augustus 2010. 

#036 FATD Omsendbrief 7 van 2010 ALLE LEDE

 Geagte Lid

 Sien asseblief die aangehegte omsendbrief FAIS_CIRCULAR_7_2010 vir nuus oor die regulatoriese eksamens.

 Ons verwag dat die koste van die eksamens binnekort aangekondig sal word, gevolg deur die aankondiging van die begindatum van die amptelike eksamens.

2 August 2010.

# 035 FICA Registration and Reporting

ALL MEMBERS WHO ARE ACCOUNTABLE INSTITUTIONS

Dear Member

Please view the attached document for information on compulsory registration as an accountable institution with the Financial Intelligence Centre.

Members who are licensed only for short-term insurance products or health service benefits are not accountable institutions but must comly with the provisions of section 29 of the FIC Act by reporting suspicious and unusual transactions.

Attachment 1- FIC_Amendment_Act (2)

Attachment2- FINANCIAL_INTELLIGENCE_CENTRE_AMENDMENT_ACT

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2 Augustus 2010.

# 035 WFIS Registrasie en  Verslagdoening

ALLE LEDE WAT AANSPREEKLIKE INSTELLINGS IS

Geagte Lid

Besigtig asseblief die aangehegte dokument vir inligting oor verpligte registrasie as ‘n aanspreeklike instelling by die Finansiële Intelligensiesentrum.

Lede wat gelisensieer is slegs vir korttermynversekeringsprodukte of gesondheidsorgvoordele is nie aanspreeklike instellings nie maar moet voldoen aan die bepalings van artikel 29 van die Wet op FIS deur suspisieuse of ongewone transaksies te rapporteer.

Attachment 1- FIC_Amendment_Act (2)

Attachment2- FINANCIAL_INTELLIGENCE_CENTRE_AMENDMENT_ACT

JULY 2010

#034 Training for Regulatory Exams/Opleiding vir Regulatoriese Eksamens 

ALL MEMBERS

 Dear Member

 Please view the attached documents for information about online or CD Rom training offered by The Training Room Online.

 Members of the FIA qualify for a 20% discount on the normal price – see order form.

 Members can contact Melody Johnson of The Training Room Online on 021 422 5426 for more information.

 The order form plus proof of payment can be faxed to 0866 411 116 or mailed to melody@thetrainingroomonline.com

 Please note that the FIA does not endorse any product or service and members may take up the offering at their discretion.

Attachment 1- Order_Form

Attachment 2- RE1_Key_Individuals

Attachment 3- RE4_Representatives

 ALLE LEDE

 Geagte Lid

 Besigtig asseblief die aangehegte dokumente vir inligting oor aanlyn of CD Rom opleiding deur The Training Room Online aangebied.

Lede van die FIA kwalifiseer vir ‘n 20% afslag op die normale prys – sien bestelvorm.

 Lede kan Melody Johnson van The Training Room Online by 021 422 5426 kontak vir meer inligting.

 Die bestelvorm kan gefaks word na 0866 411 116 of per e-pos gestuur word na melody@thetrainingroomonline.com

 Neem asseblief kennis dat die FIA geen produk of diens endosseer nie en lede kan die aanbod opneem volgens diskresie.

Attachment1- Order_Form

Attachment 2- RE1_Key_Individuals

Attachment 3- RE4_Representatives

#033 FSB Bulletin

Dear Member

Herewith the latest FSB Bulletin. Please read Anton Swanepoel’s article on FAIS transactions on page 10 and make sure that you comply with the requirements as pointed out. The article is valuable material in preperation for the regulatory exams.

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#033 FSB Bulletin

Geagte Lid

Hiermee saam die nuutste FSB Bulletin. Lees asseblief Anton Swanepoel se artikel oor FATD transaksies en maak seker dat u voldoen aan die vereistes soos uitgewys. Die artikel is waardevolle materiaal ter voorbereiding vir die regulatoriese eksamens.

# 032 FIT4FAIS Training for Regulatory Exams

Dear member

Please view the attached documents for details of training and training sessions.

 Fit4FAIS offers training for key individuals and representatives in preparation for the regulatory exams on level 1.

 Please contact the provider directly for more information:

• Website:          www.fit4fais.co.za
• Telephone:      0861 273 783
• E-mail:             info@fit4fais.co.za

 Please mention that you are a member of the FIA when enrolling for this training.

 We will soon inform members of other training being offered.

 Please note that the FIA does not endorse any product or service and members may take up the offering at their discretion.

 # 031 FSB Increase in Levies

 Dear Member

Please find the attached document to the FSB increase in FAIS levies.

# 030  DORMANT BROKERAGES/DORMANTE MAKELARYE

Dear Member

Please note that you must report to the FSB within 15 days when a brokerage becomes dormant. You can send an e-mail to faispfc@fsb.co.za and mention the following:

• Name of brokerage;
• FSP (license) number;
• Reasons for brokerage becoming dormant;
• Date brokerage became dormant;
• That all clients have been informed about the status and what has been done to ensure clients know who the new service provider will be to render sevices;
• That all unfinished business in respect of clients has been taken care of;
• Request that licence be lapsed.

Please see section 11 of the FAIS Act.

Failure to report to the FSB will mean that annual levies will still be payable and that compliance reports and financial statements must still be submitted.

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Geagte Lid

Neem asseblief kennis dat u binne 15 dae aan die RFD moet rapporteer wanneer ‘n makelary dormant raak. U kan ‘n e-pos stuur aan faispfc@fsb.co.za en die volgende noem:

• Naam van die makelary;
• FDV (lisensie) nommer;
• Redes waarom makelary dormant geraak het;
• Datum waarop makelary dormant geraak het;
• Dat kliënte ingelig is van die status en wat gedoen is om te verseker dat kliënte weet wie die nuwe diensverskaffer sal wees on dienste te lewer;
• Dat alle onvoltooide besigheid ten opsigte van kliënte afgehandel is;
• Versoek dat lisensie moet verval.

Sien asseblief artikel 11 van die Wet op FATD.

Versuim om aan die RFD te rapporteer sal beteken dat jaarlikse heffings steeds betaalbaar sal wees en dat voldoeningsverslae en finansiële state steeds ingedien moet word.

#029  BLACK ECONOMIC EMPOWERMENT (BEE) REQUIREMENTS/SWART EKONOMIESE BEMAGTIGING (SEB) VEREISTES

Dear Member

Please view the attached document for information about the requirements of black economic empowerment.

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Geagte Lid

Besigtig asseblief die aangehegte dokument vir inligting oor die vereistes van swart ekonomiese bemagtiging.

Please see the PDF’s below of the FIA feature that appeared in the Sunday Times – Business Times Sector on 04 July 2010.

Business Times Page 8 ( 4 July 2010)
Business Times Page 9 ( 4 July 2010)

#024 REGISTER OF REPRESENTATIVES/
REGISTER VAN VERTEENWOORDIGERS

Please view the attached documents that explain the requirements for a register of representatives. / Besigtig asseblief die aangehegte dokumente wat die vereistes vir ‘n register van verteenwoordigers verduidelik. 

Document 1: REGISTER_OF_REPRESENTATIVE (1)
Document 2: REGISTER_OF_REPRESENTATIVE (2)
Dokument 1: REGISTER_VAN_VERTEENWOORDIGER (1)
Dokument 2: REGISTER_VAN_VERTEENWOORDIGER (2) 

Geagte Lid 

Die voldoeningsverslag, riglyne en voorbeelde van die aanhangsels wat u by die verslag wil voeg is op ons webtuiste geplaas onder die skakel COMPLIANCE. 

Die Wet op FATD en relevante Raadskennisgewings kan gevind word onder die LEGISLATION skakel. 

Ons is besig met die opdatering van ons webwerf en sal binnekort al die relevante voldoeningsnuusbriewe en FIA Expresse in plek hê. 

Neem asseblief kennis: 

Wanneer u die verslag voltooi sal u merk dat elke afdeling verwys na ‘n toepaslike artikel van die Wet op Kode. Dit mag ‘n goeie idee wees om die relevante artikels te bestudeer indien u onseker is hoe om die vraag te interpreteer.  Op hierdie manier sal u ook u kennis opskerp vir die regulatoriese eksamens. U gaan beslis eksamenvrae direk uit die inhoud van die voldoeningsverslag kry.

#021 CONFLICT OF INTEREST/BOTSING VAN BELANGE

ALL MEMBERS 

Dear Member 

Section 3A of the General Code of Conduct stipulates that a provider must adopt, maintain and implement a conflict of interest management policy that complies with the provisions of the FAIS Act. 

You may use the attached example of such a policy and adapt it to suit your own needs. 

An example of a conflict of interest register  is also attached. 

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ALLE LEDE 

Geagte Lid 

Artikel 3A van die Algemene Gedragskode bepaal dat ‘n verskaffer ‘n botsing van belange beleid moet daarstel, in stand hou en implementeer wat aan voorskrifte van die Wet op FATD voldoen. 

U kan die aangehegte voorbeeld van so ‘n beleid gebruik en dit aanpas om aan u eie behoeftes te voldoen. 

‘n Voorbeeld van ‘n botsing van belange register  is ook aangeheg. 

#20 REGULATORY EXAMS/REGULATORIESE EKSAMENS 

Dear Member

The attached document  gives more guidelines on the regulatory exams.

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Geagte Lid

Die aangehegte dokument verskaf nog riglyne oor die regulatoriese eksamens.

#019 FAIS CIRCULAR 6 OF 2010/FATD OMSENDBRIEF 6 VAN 2010 

Dear Member 

Please see the attached circular of actions taken by the FSB in respect of overdue levies, compliance reports and financial statements. 

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Geagte Lid 

Lees asseblief die aangehegte omsendbrief van stappe deur die RFD geneem ten opsigte van uitstaande heffings, voldoeningsverslae en finansiële state. 

#018 LONG-TERM INSURANCE CATEGORY B PRODUCTS/LANGTERMYNVERSEKERING KATEGORIE B PRODUKTE 

LONG-TERM INSURANCE ONLY 

Dear Member 

Please read the attached document  if you are currently licensed for the above mentioned product category. 

The FSB has decided to split the product category into B1 and B2 to accommodate FSP’s and representatives in especially the retail industry, as they deal with risk related insurance products only, but would have been required to complete the regulatory examination relating to both risk and savings insurance products. 

Very few of our members will be affected by these changes. You only need to react to the circular if you choose to be licensed for only B1 or only B2. In almost all cases our members will elect to keep both B1 and B2 on their licenses and the FSB will then automatically update their own registers to reflect this position. 

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SLEGS LANGTERMYNVERSEKERING 

Geagte Lid 

Lees asseblief die aangehegde dokument  indien u vir bogenoemde produkkategorie gelisensieer is. 

Die RFD het besluit om die produkkategorie te skei in B1 en B2 om FDV’s en verteenwoordigers in veral die kleinhandel industrie te akkommodeer omdat hulle slegs met risiko gebaseerde produkte handel, maar van hulle vereis sou word om die regulatoriese eksamen ten opsigte van beide risiko en spaar versekeringsprodukte te voltooi. 

Weinig van ons lede sal deur hierdie veranderinge geraak word. U hoef slegs op die omsendskrywe te reageer indien u verkies om gelisensieer te wees vir slegs B1 of slegs B2. In amper alle gevalle sal ons lede verkies om beide B1 en B2 op hulle lisensies te hou en die RFD sal dan hulle eie registers outomaties opdateer om hierdie posisie te reflekteer. 

#017 2010 COMPLIANCE REPORT/2010 VOLDOENINGSVERSLAG

ALL MEMBERS 

Dear Member 

Please find attached FAIS Circular 4 of 2010 that contains information on submission of the 2010 compliance report. Please study the document if you choose to submit your compliance report electronically. 

Reminder: 

Category 1 FSP’s with compliance officers: reporting date is 31 May 2010 and report must be submitted to FSB by 15 August 2010. 

Category 1 FSP’s without compliance officer: reporting date is 31 December 2010 and report must be submitted to the FSB by 28 February 2011. 

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ALLE LEDE 

Geagte Lid 

Vind asseblief aangeheg FATD Omsendbrief 4 van 2010 wat inligting bevat oor indiening van die 2010 voldoeningsverslag. Bestudeer asseblief die dokument indien u verkies om u voldoeningsverslag elektronies in te dien. 

Herinneraar: 

Kategorie 1 FDV met voldoeningsbeampte: verslagdoeningsdatum is 31 Mei 2010 en verslag moet by RFD ingedien word teen 15 Augustus 2010. 

Kategorie 1 FDV sonder voldoeningsbeampte: verslagdoeningsdatum is 31 Desember 2010 en verslag moet by RFD ingedien word teen 28 Februarie 2011. 

#016 REGULATORY EXAMS LEVEL 2/REGULATORIESE EKSAMENS VLAK 2 

STUDY MATERIAL 

LONG-TERM INSURANCE CATEGORY A  

Dear Member 

If you are licensed for the above mentioned product category you can now download the study material from the INSETA website: 

• www.inseta.org.za
• Hold the cursor on FAIS Assessments on the left side of the main page
• Click on FAIS Learning Material
• Complete the required details and click on submit
• The above steps will take you to the study material which you can download for free

The above process must be followed due to copyright on the material and for INSETA to keep record of the number of downloads. 

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STUDIE MATERIAAL 

LANGTERMYNVERSEKERING KATEGORIE A  

Geagte Lid 

Indien u vir bogenoemde produkkategorie gelisensieer is kan u nou die studie materiaal aflaai van die INSETA webwerf: 

• www.inseta.org.za
• Hou die pyltjie op FAIS Assessments aan die linker kant van die hoofbladsy
• Klik op FAIS Learning Material
• Voltooi die gevraagde besonderhede en klik op submit
• Bogenoemde stappe sal u na die studie materiaal neem wat u gratis kan aflaai.

Bogenoemde proses moet gevolg word weens kopiereg op die materiaal en vir INSETA om rekord te hou van die getalle wat afgelaai word. 

Geagte Lid 

Die 2010  voldoeningsverslag vir FDV’s wat voldoeningsbeamptes het is op die RFD se webwerf gepubliseer en is ook hierby aangeheg vir u gemak. 

FDV’s moet ‘n voldoeningsbeampte hê indien - 

• Die FDV twee of meer sleutelpersone het, of
• Een of meer verteenwoordigers het.

Die rapporteringstydperk is vanaf 1 Junie 2009 tot 31 Mei 2010 en die verslag moet by die RFD ingedien word teen 15 Augustus 2010. 

Ek is besig om die riglyne en voorbeelde van aanhangsels op te stel wat u by die verslag mag wil aanheg en sal lede in kennis stel wanneeer dit op ons webwerf beskikbaar is. 

Bestudeer asseblief die inligting: 

• www.fsb.co.za
• Klik op FAIS in regter boonste hoek
• Klik op Compliance Reports

#014 TRIAL EXAMINATIONS IN GAUTENG/PROEFEKSAMENS IN GAUTENG

MEMBERS IN GAUTENG

TRIAL EXAMS LEVEL 2 – HEALTHCARE BENEFITS AND LONG-TERM INSURANCE CATEGORIES B AND C

Dear Member

You are invited and encouraged to participate in trial exams conducted by the FPI for the products mentioned above. Please note that the trial exams are not the official exams and will therefore not be marked. The purpose is to assist the examination body in ensuring that exam qustions and answers comply with the stringent standards set for fair and reasonable exams. It also affords participants to get a feel of the types of questions to expect in the official exams. Participants may also be invited to write the pilot exams on these product categories free of charge. Pilot exams are regarded as official exams and the results will be recorded.

You can register for these trial exams on the FSB website:

• www.fsb.co.za
• Click on FAIS in top right corner
• Click on “Regulatory Examinations: Trials (Testing of Questions)”
• Scroll down to the heading “Booking for the trial regulatory examinations”
• Click on “Trial Examination” at the end of the first paragraph

For queries and more information please contact the FPI on www.fpi.co.za/re or telephone 011 470 6100.

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LEDE IN GAUTENG

PROEFEKSAMENS VLAK 2 – GESONDHEIDSORGVOORDELE EN LANGTERMYNVERSEKERING KATEGORIEë B EN C.

Geagte Lid

U word uitgenooi en aangemoedig om deel te neem aan proefeksamens deur die FPI aangebied vir die produkte hierbo genoem. Neem asseblief kennis dat die proefeksamens nie amptelike eksamens is nie en gevolglik nie gemerk sal word nie. Die doel is om die eksamineringsliggaam behulpsaam te wees om te verseker dat vrae en antwoorde voldoen aan die streng standaarde wat gestel word vir regverdige en billike eksamens. Dit verskaf ook die geleentheid aan deelneemers om ‘n gevoel te kry van die tipiese vrae wat in die amptelike eksamens verwag kan word. Deelnemers mag ook uitgenooi word om die loodseksamen oor hierdie produkte gratis te skryf. Loodseksamens word beskou as amptelike eksamens en die uitslae sal aangeteken word.

U kan vir hierdie proefeksamens registreer op die RFD se webwerf:

• www.fsb.co.za
• Klik op FAIS in regter boonste hoek
• Kilk op “Regulatory Examinations: Trials (Testing of Questions)”
• Rol na onder na die opskrif “Booking for the trial regulatory examinations”
• Klik op “Trial Examination” aan die einde van die eerste paragraaf

#013 FSB ANNUAL LEVIES/RFD JAARLIKSE HEFFINGS
 

ALLE LEDE 

Geagte Lid 

Besigtig asseblief die aangehegte dokument ( BN_75_of_2010_levies) wat aan alle gemagtigde finansiëlediensteverskaffers gestuur sal word. Dit bevat inligting oor die jaarlikse RFD heffings wat betaalbaar is nie later nie as 31 Oktober 2010. 

Hierdie heffings word bereken op 31 Augustus 2010 en die bedrae sal afhang van die aantal sleutelpersone en verteenwoordigers onder die lisensie op laasgenoemde datum. Indien daar veranderings aan u registers van sleutelpersone en verteenwoordigers was moet u verseker dat die RFD daarvan in kennis gestel word binne 15 dae van die verandering, maar voor 31 Augustus 2010. 

Raadskennisgewing 75 van 2010 is aangeheg vir u inligting. Fokus op artikels 15, 16, 19 en 20. (FSB_Annual_letter_for_levies_2010_pdf___2010_05_31) 

Die Uitvoerende Komitee van die FIA het met die RFD vergader oor die aangeleentheid van die heffings en ‘n breedvoerige verduideliking is verskaf oor die noodsaaklikheid vir verhoogde heffings. Meer inligting word in die aangehegte brief gegee. 

OPSOMMING VIR KATEGORIE 1 FDV’s:

BESKRYWING	2009	2010	VERHOGING	% VERHOGING
RFD basis bedrag	R2040-00	R2550-00	R510-00	25%
Per SP en verteenwoodiger	R364-00	R400-00	R36-00	10%
FATD Ombud basis bedrag	R528-00	R581-00	R53-00	10%
Per SP en verteenwoordiger	R198-00	R218-00	R20-00	10%

MAAK ASSEBLIEF SEKER DAT DIE RFD U KORREKTE E-POSADRES HET. 

If you are licensed for the above mentioned product category you can now download the study material from the INSETA website: 

• Hold the cursor on FAIS Assessments on the left side of the main page
• Click on FAIS Learning Material
• Complete the required details and click on submit
• The above steps will take you to the study material which you can download for free

The above process must be followed due to copyright on the material and for INSETA to keep record of the number of downloads. 

STUDIE MATERIAAL 

LANGTERMYNVERSEKERING KATEGORIE A 

Indien u vir bogenoemde produkkategorie gelisensieer is kan u nou die studie materiaal aflaai van die Inseta webwerf:  www.inseta.org.za

• Hou die pyltjie op FAIS Assessments aan die linker kant van die hoofbladsy
• Klik op FAIS Learning Material
• Voltooi die gevraagde besonderhede en klik op submit
• Bogenoemde stappe sal u na die studie materiaal neem wat u gratis kan aflaai.

Bogenoemde proses moet gevolg word weens kopiereg op die materiaal en vir INSETA om rekord te hou van die getalle wat afgelaai word. 

#015 COMPLIANCE REPORT 2010/VOLDOENINGSVERSLAG 2010 

The 2010 compliance report for FSP’s who have compliance officers has been published on the FSB website and is also attached hereto for your convenience. 

FSP’s must have a compliance officer if - 

• The FSP has two or more key individuals, or
• One or more representatives 

The reporting period for these FSP’s is from 1 June 2009 to 31 May 2010 and the report must be submitted to the FSB by 15 August 2010. 

I am busy completing the guidelines and examples of the annexures you may want to attach to the report and will inform members when they are available on our website. 

Please study the information: 

• www.fsb.co.za

• Click on FAIS in top right corner
• Click on Compliance Reports

SLEGS FDV’s WAT VOLDOENINGSBEAMPTES MOET AANSTEL 

Die 2010 voldoeningsverslag vir FDV’s wat voldoeningsbeamptes het is op die RFD se webwerf gepubliseer en is ook hierby aangeheg vir u gemak. 

FDV’s moet ‘n voldoeningsbeampte hê indien - 

• Die FDV twee of meer sleutelpersone het, of
• Een of meer verteenwoordigers het.

Die rapporteringstydperk is vanaf 1 Junie 2009 tot 31 Mei 2010 en die verslag moet by die RFD ingedien word teen 15 Augustus 2010. 

Ek is besig om die riglyne en voorbeelde van aanhangsels op te stel wat u by die verslag mag wil aanheg en sal lede in kennis stel wanneeer dit op ons webwerf beskikbaar is. 

Bestudeer asseblief die inligting: 

• www.fsb.co.za
• Klik op FAIS in regter boonste hoek
• Klik op Compliance Reports

#014 TRIAL EXAMINATIONS IN GAUTENG 

MEMBERS IN GAUTENG 

TRIAL EXAMS LEVEL 2 – HEALTHCARE BENEFITS AND LONG-TERM INSURANCE CATEGORIES B AND C 

You are invited and encouraged to participate in trial exams conducted by the FPI for the products mentioned above. Please note that the trial exams are not the official exams and will therefore not be marked. The purpose is to assist the examination body in ensuring that exam qustions and answers comply with the stringent standards set for fair and reasonable exams. It also affords participants to get a feel of the types of questions to expect in the official exams. Participants may also be invited to write the pilot exams on these product categories free of charge. Pilot examsare regarded as official exams and the results will be recorded. 

You can register for these trial exams on the FSB website: 

• www.fsb.co.za
• Click on FAIS in top right corner
• Click on “Regulatory Examinations: Trials (Testing of Questions)”
• Scroll down to the heading “Booking for the trial regulatory examinations”
• Click on “Trial Examination” at the end of the first paragraph

For queries and more information please contact the FPI on www.fpi.co.za/re or telephone 011 470 6100. 

PROEFEKSAMENS IN GAUTENG  

LEDE IN GAUTENG 

PROEFEKSAMENS VLAK 2 – GESONDHEIDSORGVOORDELE EN LANGTERMYNVERSEKERING KATEGORIEë B EN C. 

U word uitgenooi en aangemoedig om deel te neem aan proefeksamens deur die FPI aangebied vir die produkte hierbo genoem. Neem asseblief kennis dat die proefeksamens nie amptelike eksamens is nie en gevolglik nie gemerk sal word nie. Die doel is om die eksamineringsliggaam behulpsaam te wees om te verseker dat vrae en antwoorde voldoen aan die streng standaarde wat gestel word vir regverdige en billike eksamens. Dit verskaf ook die geleentheid aan deelneemers om ‘n gevoel te kry van die tipiese vrae wat in die amptelike eksamens verwag kan word. Deelnemers mag ook uitgenooi word om die loodseksamen oor hierdie produkte gratis te skryf. Loodseksamens word beskou as amptelike eksamens en die uitslae sal aangeteken word. 

U kan vir hierdie proefeksamens registreer op die RFD se webwerf: 

• www.fsb.co.za
• Klik op FAIS in regter boonste hoek
• Kilk op “Regulatory Examinations: Trials (Testing of Questions)”
• Rol na onder na die opskrif “Booking for the trial regulatory examinations”
• Klik op “Trial Examination” aan die einde van die eerste paragraaf

Vir navrae en meer inligting kontak asseblief die FPI by www.fpi.co.za/re of telefoon 011 470 6100. 

#013 FSB Annual Levies/RFD Jaarlikse Heffings 

Please view the attached document that will be sent to all authorized financial service providers. It contains information on the annual FSB levies payable no later than 31 October 2010./Besigtig asseblief die aangehegte dokument wat aan alle gemagtigde finansiëlediensteverskaffers gestuur sal word. Dit bevat inligting oor die jaarlikse RFD heffings wat betaalbaar is nie later nie as 31 Oktober 2010. 

# 012 Plain Language Guide FSP and Sole Proprietor/Eenvoudige Taalgids FDV en Alleeneienaar

The plain language guide for FSP’s and sole proprietors has been posted on the FSB website: 

• www.fsb.co
• Click on Fit and Proper Plain Language Guides on the main page or find it on the “Latest News” link.

Please study the guide in preparation for the regulatory exams on level 1 if you are a sole proprietor. This guide explains the responsibilities and duties of FSP’s and sole proprietors relating to all the fit and proper requirements contained in Board Notice 106 of 2008, as amended.
It will do no harm if key individuals also study this guide. 

# 011 Reminder Annual General Meeting – 3 June 2010

This notice serves as a reminder of the Annual General Meeting taking place on 3 June 2010 to be held at the Country Club Johannesburg, Auckland Park, Gauteng in Johannesburg commencing at 09:30 for 10:00 Hrs. Attached please find the Proxy Form to be completed and returned if you are unable to attend the AGM. If you are attending the AGM please complete the attached AGM Reply Slip and return it a.s.a.p.
Reply slip
Proxy form 

# 010 Last Minute World Cup Risk Considerations
Please see the attached article by Mike Stoker on ‘Last Minute World Cup Risk Considerations” that one should take, IRMSA Risk Management Foundation in conjunction with the Institute of Risk Management of South Africa and the Institute of Directors SA, the upshot of which is intermediaries who may not have reviewed client’s insurance portfolios in specific regard to World Cup risks, do have a last minute opportunity to do so… and of course it is also a marketing opportunity to sell additional products which clients may require. 

# 09 Donations to Financial Services Consumer Foundation now Tax Deductable
 

#08 FIA AGM 3 June 2010

Please find the following attached documents pertaining to the Annual General Meeting taking place on 3 June 2010, to be held at the Country Club Johannesburg, Auckland Park, Gauteng in Johannesburg commencing at 09:30 for 10:00 Hrs. 

• AGM Notice 2010
• AGM Reply Slip 2010
• AGM Proxy Form June 2010
• Draft Financial Statements
• Auckland Park Map

# 07 Financial Statements

This serves as a reminder that annual financial statements must be submitted to the FSB within 4 months after the financial year end of the FSP. You will find all relevant information, including examples of financial statements and guidelines on preparation of statements on the FSB website: 

• www.fsb.co.za
• Click on FAIS in top right corner
• Click on Financial Statements and Audit Requirements under the heading Supervision Department.

# 06 FIA Code of Conduct/Gedragskode

The Board of  the FIA yesterday approved a document of commitment in terms of the FIA Code of Conduct. This commitment is an extract from the code which depicts the core of the obligations of all FIA directors, managers and members. The FIA Code of Conduct is highly regarded by the FSB and the Financial industry in general. This commitment will soon be provided to all members in the form of a neat certificate that can be displayed in their offices. 

Die Raad van die FIA het gister ‘n dokument van verbintenis in terme van die FIA Gedragskode goedgekeur. Hierdie verbintenis is ‘n uittreksel uit die kode wat die kern van die verpligtinge van alle FIA direkteure, bestuurders en lede uitbeeld. Die FIA Gedragskode word hoog aangeslaan deur die RFD en die finansiële industrie in die algemeen. Hierdie verbintenis sal binnekort aan alle lede voorsien word in die vorm van ‘n netjiese sertifikaat wat in hulle kantore ten toon gestel kan word. 

# 05 Living annuities license categories/Lewende annuiteite lisensie kategorie 

# 04 Compliance services/Voldoeningsdienste

In a follow-up to FIA Newsbreaker # 01 of 21 April 2010 we would like to make members aware of the fact that there are many other service providers who are able to provide compliance solutions. Members can find a complete list of authorized compliance practices and officers on the FSB website. You can access the FSB website directly from the FIA website (www.fia.org.za) by simply clicking on the FSB logo on our main page. 

• www.fsb.co.za
• Click on FAIS in top right corner
• Click on List of Approved Compliance Officers
• Then click on display button next to “compliance officers who may outsource their services”.

The list is in alphabetical order and contains contact details and names of the authorized officers of the practice.
Please note that the FIA does not endorse the products or services of any compliance practice or officer. This is a vested resolution of the FIA Board. 

In opvolging van FIA Newsbreaker # 01 van 21 April 2010 wil ons lede graag inlig van die feit dat daar vele ander diensverskaffers is wat in staat is om voldoeningsoplossings te bied. Lede kan ‘n volledige lys van gemagtigde voldoeningspraktyke en beamptes op die RFD se webwerf vind. U kan toegang kry tot die RFD webwerf direk vanaf die FIA se webwerf ( www.fia.org.za ) deur bloot op die RFD logo te klik op ons hoofbladsy. 

• www.fsb.co.za
• Klik op FAIS in boonste regter hoek
• Klik op List of Approved Compliance Officers
• Klik dan op die vertoon knoppie langs “compliance officers who may outsource their services”.

Die lys is in alfabetiese volgorde en bevat kontakbesonderhede en name van die gemagtigde beamptes van die praktyk.
Neem asseblief kennis dat die FIA nie die produkte of dienste van enige voldoeningspraktyk of beampte onderskryf nie. Hierdie is ‘n gevestigde resolusie van die FIA Raad.
 

APRIL 2010 

#3 Regulatory Exams Level 1 Training Material 

The study material for the regulatory exam on level 1 in respect of representatives is now available. 

The document can be downloaded from the INSETA website: 

• www.inseta.org.za
• Hold the cursor on FAIS Assessments on the left side of the main page
• Click on FAIS Learning Material
• Complete the required details and click on submit
• The above steps will take you to the study material which you can download for free.

The above process must be followed due to copyright on the material and for INSETA to keep record of the number of downloads. 

Please read the attached notes on the regulatory exams on level 1. 

You can direct queries to Joe Kotzé at joe@fia.org.za or telephone 012 665 0085. 

#03 Regulatoriese Eksamens Vlak 1 Opleidingsmateriaal 

Die studiemateriaal vir die regulatoriese eksamen op vlak 1 ten opsigte van verteenwoordigers is nou beskikbaar. Die dokument kan van die INSETA webwerf afgelaai word: 

• www.inseta.org.za
• Hou die pyltjie of FAIS Assessments aan die linker kant van die hoofbladsy
• Klik op FAIS Learning Material
• Voltooi die gevraagde besonderhede en klik op submit
• Bogenoemde stappe sal u na die studiemateriaal neem wat u gratis kan aflaai.

Bogenoemde proses moet gevolg word weens kopiereg op die materiaal en vir INSETA om rekord te hou van die getalle wat afgelaai word. 

Lees asseblief die aangehegte notas oor die regulatoriese eksamens op vlak 1. 

#02 Masthead Group Scheme – Proposed take on of cover on the FIA Group Scheme  

#01 COMPLIANCE SERVICE/VOLDOENINGSDIENSTE
Please view the attached documents that explain an alternative compliance offering.
Besigtig asseblief die aangehegte dokumente wat ‘n alternatiewe voldoeningsdiens verduidelik.
Document 1
Document 2 

 #20 INSURANCE DATA COMMUNICATION
Please see the attached press release with regards to the Insurance Data Exchange Communication. 

#19 REGULATORY EXAMS ON LEVEL 1. 
Please see the attached documents with the latest news regarding regulatory exams on level1. The Word document is in English and Afrikaans. 

#19 REGULATORIESE EKSAMENS OP VLAK 1.
Sien asseblief die aangehegte dokumente met die jongste nuus oor die regulatoriese  eksamens op vlak 1. Die Word dokument is in Engels en Afrikaans. 

#18 Recognised Qualifications  

#17 FAIS – Circulars 

Circular 1: Debarment steps to be taken by FSP’s where representatives do not comply with the qualification requirements of the fit and proper determination. The FSB has granted a window period until 30 April 2010 for FSP’s to comply with the debarment process. Failure to act where appropriate, may lead to an investigation by the FSB into the fit and proper status of the FSP, key individual or sole proprietor. The attached document explains in detail the steps to be taken. Also attached is the form to be completed for debarment of a representative. 

Circular 2: Fit and proper requirements for key individuals and sole proprietors. The FSB has granted a window period until 30 April 2010 to take appropriate action where requirements are not complied with. 

#16 New Pensions Ombud 

Appointments of Mr Charles Pillai as the new Pension Funds Adjudicator and Ms Noluntu Bam as the new FAIS Ombud. 

MARCH 2010 

#15 New Bursary Invite. 

Bursary Invite from INSETA to all Levy Paying Employers 

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