Rebosa Urgent Report 22 September 2017

Dear Colleagues

Financial Intelligence Centre – Information You Need To Know

2 October 2017 is the commencement date for the FIC Amendment Act.

Rebosa has gone to great expense to get our attorneys to develop a real estate industry specific Risk Management Compliance Programme (“RMCP”) Template and Guidelines. This will help you with the new FIC reporting procedures and requirements and you will be able to modify the template to suit your specific needs.

We will ensure you receive this template before the deadline.

In a joint statement released by National Treasury and the Financial Intelligence Centre it states that “The relevant supervisory bodies will, even after 2 October 2017, continue regular engagements with the relevant industries to determine a timetable for full compliance, and monitor progress on such compliance. Various consultations with the industry and supervisory bodies have been taking place this year.”  

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Special Rebosa Report 11 September 2017 

EAAB IT System

As you are aware, the EAAB’s IT system has had serious challenges over the past weeks which has had a direct impact on our ability to resolve many of your queries.

Consequently we have taken the matter up with the EAAB Board and are pleased to announce that the Deputy Chair, Mr Yusuf Patel, has prioritised our concerns and asked the management to provide him with a progress report on the steps taken to deal with the challenges.  

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Rebosa Report 29 August 2017

Avoid the negative consequences of non-compliance in 2018

As December 2017 rapidly draws near, full status estate agents (excluding presently registered intern estate agents), are again reminded that they must ensure that they comply with mandatory Continuing Professional Development (CPD) requirements if they wish to continue legally practicing as estate agents.

Please note that all agents who were registered as full status estate agents in 2015, but who either failed to register for CPD in 2015, 2016 and/or 2017 or who have not yet accumulated the requisite verifiable and non-verifiable CPD points for those CPD years, are advised that 2017 is the last year in which they may still register for, and complete, the entire CPD programme for the cycle.

Any agent who has failed to accumulate forty-five verifiable and fifteen non-verifiable CPD points by the end of the 2017 calendar year will not be able to renew their fidelity fund certificates for 2018.

Please read the full notice below.

CPD Reminder 2017

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REBOSA Report 13 May 2017

Dear Colleagues

The Property Practitioners Bill is now a reality.  The Bill, which will replace the Estate Agency Affairs Act of 1976, will ensure the continuation of the Estate Agency Affairs Board (EAAB) as the Property Practitioners Regulatory Authority, provide for the continuation of the Estate Agents Fidelity Fund as the Property Practitioners Fidelity Fund and provide for consumer protection and related matters.

Fundamental issues have arisen out of the “Bill” that will have far reaching consequences for the industry.  We therefore, encourage you to read our attached commentary, which has been submitted to the department and invite you to a series of roadshows which we will be holding to discuss the Bill in detail.

We look forward to your participation.

Kind regards
Jan  

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Rebosa Report 12 April 2016

Property Practitioners Bill

The Property Practitioners Bill was published for public comment on 31 March 2017.

Rebosa is currently consulting with a leading firm of attorneys and will be submitting our commentary by the deadline date of 30 April 2017.

We are inviting all our members to submit their comments to us by no later than Friday 21 April in order for us to collate the responses and include them in the discussions we will be having with our attorney’s, thus providing us with sufficient time to meet the deadline.  

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Your best effort is good enough

REBOSA REPORT 16 FEBRUARY 2017

Dear Colleagues

There are a few EAAB and FIC deadlines looming and we urge you to please adhere to them.  We have covered each one in detail below.

We are also pleased to announce that our membership fees will remain unchanged for 2017.

I would again like to take this opportunity to thank you for your ongoing support and wish you a prosperous 2017.

Kind regards
Jan

Your Best Effort is Good Enough

The EAAB has recently approached a number of principals to submit a Self-Assessment of Compliance with the EAAA and FICA on the MyEAAB agent’s portal.  

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REBOSA 24 October 2016 Report

Dear Colleagues

As the end of the year draws to a close I need to alert you to some housekeeping issues.  You have only 7 days left to renew your 2017 FFCs and 2 months to acquire your 15 verifiable CPD points.  As I’ve reiterated, once you are found uncompliant and dropped from the EAAB system it is extremely onerous to get you back on, aside from the penalties and fines you will have to pay.  

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