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Unemployed trader applies to tribunal to have penalties reduced
The FSCA had already reduced the penalties and dropped the intention to debar for 10 years.
Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
Read moreThe FSCA had already reduced the penalties and dropped the intention to debar for 10 years.
Financial Services Tribunal considers the Adjudicator’s powers relating to section 14 transfers
The VDP allows taxpayers to come clean on non-compliance that may lead to penalties discovered by Sars.
Tribunal repeats its previous ‘recommendation’ that the FAIS Ombud obtain oral and expert evidence to resolve the disputes of fact.
Stringent compliance obligations await if it is, but there’ll be a transitional period for new sectors.
It will apply to estate agents, attorneys and trust practitioners, among others.
Referring clients to another broker does not constitute advice for the purposes of the FAIS Act.
The two core components that must be met to claim a bad-debt write-off from Sars
And how the Financial Services Tribunal assesses whether the fine was appropriate.
It explicitly places an onus on retirement funds to alert employers of their obligations under the Pension Funds Act.
Anyone registered as an estate agent before February 2022 will remain an accountable institution.
These include delays with funeral policy claims, advice to clients who buy living annuities, and insurance policy disclosures.
Meanwhile, the High Court dismisses Trustco’s bid to have the FST’s November 2021 decision reviewed and set aside.
Opposition parties criticise rushed process and impact on NGOs.
Attendance is limited to the first 1 300 people who register.
The Adjudicator also failed to apply the Pension Fund’s Act prescription provision correctly, tribunal says.