Failure to comply with regulatory requirements can be a costly mistake. In a recent case, the Financial Sector Conduct Authority (FSCA) withdrew the FSP licence of Dikwena Funeral Parlour (Pty) Ltd, debarred Mr. […]
Cheating, fraud and many other forms of unethical behaviour are amongst the biggest personal and societal challenges of our time. In South Africa, we are confronted daily by media reports concerned with allegations […]
by Joani van Vuuren, Shane Johnson, Siya Ngcamu of Webber Wentzel In a recent decision, the Supreme Court of Appeal (SCA) considered the interplay between disciplinary inquiries convened under the Labour Relations Act […]
Sales staff turnover in the financial services industry has always been notoriously high. Of late, it has become evident, from decisions by the Financial Services Tribunal, that due process was not always followed […]
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
The abhorrent practise of submitting a single premium investment as a recurring premium policy to earn a substantially higher commission is nothing new. If you then, in addition, destroy documentary evidence in the […]
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. The Guidance […]
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. It is […]
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. It is […]
On 1 April 2018, the debarment process under the FAIS Act was amended by the FSR Act 9 of 2017. In terms of section 14(3) of the FAIS Act, a FSP must, before […]
“Unless debarment procedures are fair, reasonable and lawful, decisions taken to debar persons can be, and will be, overturned on technical grounds following an application to the Tribunal to reconsider any such decision”, […]
In a recent (5 October 2018) matter heard before the Financial Services Tribunal, the applicant, Ms X, applied for a reconsideration of a decision taken by the respondent, Y (the FSP). The FSP […]
A recent case before the FSB Appeal Board saw the period of debarment halved which is an interesting deviation from previous views held by the Board on its powers to interfere in decisions […]
The document titled “Guideline on the Determination of Reappointment of Debarred Representatives”, published on 13 July 2011, was withdrawn in a notice published on Friday, 20 October 2017. No reason for the withdrawal was given, nor was […]
The necessity for a process to ensure that those who fall foul of the fit and proper requirements are not allowed to practice was never in question. In particular, the bad apples need […]
