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Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
The two directors of Hernell Funerals have been debarred for 10 years and five years, respectively.
An investigation found that Greyshore Investments solicited deposits while promising to trade on behalf of investors, without the necessary authorisation.
The Tribunal’s ruling highlights that following the correct process is as important as addressing misconduct in the financial services sector.
The case illustrates how discrepancies in disclosure can undermine an individual’s suitability for a key role, resulting in the rejection of a licence application.
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
Fund members lost at least R470m after N-e-FG’s high-risk investments went south in 2021. Now, two of its directors have been fined R30m each.
The Authority’s investigation found that most of Lehumo Securities’ client funds were not invested, and returns were paid out from the funds collected.
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
The rep claimed he never meant to harm the FSP, but the FST found his actions violated the FAIS Act and demonstrated a lack of integrity.
The adviser said she shared the client information to prove her remuneration when applying for a job with a competitor.
The Authority has agreed to reconsider the penalties it imposed on ‘Coenie’ Botha, the founder of Coin Based Innovation Global.
FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
The FSCA levied a R100 000 penalty on Wenru, the financial services provider implicated in the case.
SASTUA says the former key individual issued policies under false pretences and submitted duplicate claims for the same items.
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