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16 November 2018 Financial Service Intelligence Watch

FIC releases presentation from its recent compliance and awareness roadshows

The Financial Intelligence Centre (FIC) has released the presentation it delivered to audiences throughout the country during its recent compliance and awareness roadshows.

The presentation include:

  • The value of financial intelligence in supporting the criminal justice system
  • Risk-based approach and the RMCP
  • Customer due diligence and enhanced due diligence
  • Registration and ...
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FSCA’s correction regarding public warning against Pieter Davis

On 24 October 2018 a media release from the Financial Sector Conduct Authority (FSCA) was issued, warning the public to exercise caution when dealing with Pieter Davis, an individual who purported to be representing Plus Plan Investment, an authorised financial services provider (FSP 2234). The FSCA acknowledged this week that ...

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Working Smart

 By Lee Rossini

Andile heads up the administration department of a financial services provider (an FSP). He receives the application forms from the financial advisers after they have recommended a particular product to a client. He picks up that there is a big delay between the financial advisers seeing the client and the forms reaching his department. As a result, he is receiving a lot of complaints about delays. After a brief discussion with a senior manager, they decide that the financial advisers should attend a time-management training programme the following week in the hope that it will solve the problem. Andile outsources the training to a company that specialises in courses of this nature. The financial advisers attend the course and the evaluations indicate that they enjoyed it and anticipate that the newly acquired skills will assist them to perform their jobs better. Andile anticipates an improvement in their performance, but unfortunately this never happens.

What went wrong and why didn’t Andile get the results he was expecting?


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