FSP alleges rep not financially sound because he missed car repayments
The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.
Debarment
Doing clients ‘a good turn’ doesn’t deserve debarment, rep tells Tribunal
Dismissed adviser says she helped her clients pay their premiums so they could keep their life cover while experiencing temporary financial challenges.
Warriner hit with 30-year debarment as FSCA’s BHI probe continues
The suspension of Global & Local’s licence relates to its relationship with BHI Trust, the FSCA confirms.
High Court orders insurer to reconsider unfair debarment carried out in 2016
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Insurance quote manipulation: Tribunal orders Discovery to reconsider debarments
The onus lies with the FSP to prove the facts it relies upon to debar its representative on a balance of probabilities.
Absence of explicit ‘notice of intention to debar’ not procedurally unfair
Medsafu’s letters alerted the applicant that the outcome of the process may include debarment, the Tribunal finds.
CBI director fined R216 million and debarred for 10 years
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
It’s ‘business as usual’ for debarred director of Classic Financial Services
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
Same falsified Uber receipts, but a different outcome at the Tribunal
There are differences in the circumstances surrounding the debarments and the reconsideration applications.
FSP tries to debar another firm’s representative who approached its clients
The FSP conflated the requirements for debarment under section 14 of the FAIS Act with the requirements and procedure for a debarment by the FSCA.
Insurer seeks costs order against debarred representative
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
Tribunal upholds decision to debar F&I marketer for falsifying client’s signature
The rep said she corrected the errors herself to avoid inconveniencing the customer and embarrassing the company, not to commit fraud.
Tribunal sets aside WesBank’s debarment of financial and insurance marketer
The Financial Services Tribunal says the dispute is ‘one of the many cases where employers use labour disputes to debar FSP representatives’.
Evidence of material bias in Discovery Connect debarment, says Tribunal
The sales agent was accused of manipulating quotes to reduce clients’ motor vehicle insurance premiums.
KI’s enquiries could have prevented losses suffered by Stringfellow clients, says FST
‘A key individual is not only responsible to oversee the categories of financial services for which he is licensed, but he bears an oversight role in relation to the FSP generally.’
Tribunal sets aside debarment of rep who copied and pasted a client’s signature
An affidavit from the client contradicts the bank’s version that the representative acted fraudulently.
