Moonstone: Important compliance news

Compliance Report Deadlines and workshops

The relevant Board Notices containing details of the compulsory compliance reports for 2009 have been published. Deadline details appear in the table hereunder.

License category	End of Reporting Period	Report Submission Date
Cat I without CO	31/12/2009	28/02/2010
Cat I with CO	31/05/2009	15/08/2009
Cat II, IIA, Forex, III & IV	31/08/2009	31/10/2009

Moonstone’s popular workshops for sole proprietors will be run early in 2010, like this year, to assist attendees to complete their returns at the workshop.

Risk Management Plans

The compliance report that one has to submit to the FSB contains the following questions:

8.6.1. Does the FSP have and employ appropriate risk management resources, procedures, systems and controls as described in sections 11 and 12 of the General Code of Conduct?

8.6.2. Does the FSP have a documented Risk Management Plan?

6.1 Is the compliance function established as part of the risk management framework of the business of the FSP in compliance with section 17 (3) of the Act and Regulation 5?

We have not yet seen the 2009 report for sole proprietors, but the one for Category I FSPs with a compliance officer contains the following addition:

8.6.3. In a separate annexure, provide an explanation as to how the Risk Management Plan is monitored.

At last year’s workshop very few people had such a plan in place, and we were approached by a number of attendees for help in drawing one up.

This year, on Monday 22 June at 14.00 we are running workshops at at least 12 venues across the country to assist FSPs with this very important tool for safeguarding their businesses. Please diarise this date so long – we will provide full details next week.

Compliance Support for One Person Businesses

The Moonstone Protector™ was developed with the specific intent to assist sole proprietors with an affordable compliance solution. Apart from free attendance of workshops such as those mentioned above, we provide timeous reminders of all deadlines and a comprehensive support service to help you stay abreast of legal requirements as well as changes thereto.

The cost of this service is tax deductible; an additional saving is effected via substantial discounts on stationary via a special deal we have with Walton’s who also deliver orders, saving you time and travel expenses.

Please download the attached document in Afrikaans or English for more detail. You can also phone Theuns Swanepoel, Deon du Toit or JP de Jager (if you are in the Western Cape) at 021 883 8000.