Debarment process revisited – Get it right the first time
Judging by how many debarments are overturned by the Tribunal, this appears to be a matter requiring a revisit. On 6 June 2019, the FSCA published Guidance Notice 1 of 2019 to: provide […]
Debarment
Debarment process revisited – Get it right the first time
Judging by how many debarments are overturned by the Tribunal, this appears to be a matter requiring a revisit. On 6 June 2019, the FSCA published Guidance Notice 1 of 2019 to: provide […]
A debarment should not be about settling scores
A recent determination by the Financial Sector Tribunal contains this very interesting paragraph: A debarment may not be used to satisfy a provider’s contractual or other grievances against a representative, unrelated to fitness […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Debarment proceedings time bar clarified
An interesting recent finding by the Financial Sector Tribunal sheds some light on how sec 14(5) of the Financial Sector Regulation Act 9 of 2017 should be interpreted. The applicant applied for the […]
Two wrongs doth not a right make
Regular readers will know that I have expressed my frustrations in the past with people who approached the Financial Sector Tribunal for leniency despite being blatantly dishonest. A recent decision by the Tribunal […]
Dishonesty and debarment
A recent Financial Sector Tribunal decision raised two very interesting perspectives on when dishonesty should not be used as grounds for debarment. Case number one The debarment was based on a finding that […]
Tribunal finding that Industry is improving in debarment process
A fundamental character trait of a person who provides financial services and furnishes advice to members of the public is honesty and integrity. This goes hand in hand with conducting business with the […]
Tribunal finding that Industry is improving in debarment process
A fundamental character trait of a person who provides financial services and furnishes advice to members of the public is honesty and integrity. This goes hand in hand with conducting business with the […]
Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
Non-compliance leads to administrative penalty and debarment
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. […]
Honesty and integrity – Are there different shades of grey?
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 […]
Should a separate debarment hearing follow after disciplinary hearing? – Supreme Court of Appeal clarifies the issue
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 […]
Debarment hearing notification – When and how can an email be used?
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 […]
Debarment – When can a FSP debar an ex-employee?
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 […]
