Reinstatement after Debarment
My husband was debarred almost 5 years ago, the reason for debarment was justified and fair. That said I do believe that he has paid enough for his mistakes. Recently an FSP approached […]
Debarment
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Debarment Update
The Cliffe Dekker Hofmeyr publication Finance and Banking Alert – 17 October 2016 carries an article titled, Debarment of Delinquent FAIS Representatives. It provides a brief outline of what to do when a […]
Debarment after suspension
A recent Appeal Board decision contained a number of interesting comments regarding the withdrawal of a licence and debarment of a FSP. Background The appellant’s licence was withdrawn as a result of non-payment […]
Debarment overturned by Board of Appeal
The Board was recently tasked with reviewing a decision by the Registrar to debar Ms LA Teixeira for 5 years and to withdraw the authorisation of her business. The grounds for the Registrar’s […]
To debar, or not to debar?
To rephrase the Bard, this should not really be the question – there is a better option. Representatives appointed in the second half of 2013, and the first half of 2014, and who […]
Reinstatement of Debarred Representatives
We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]
When is a debarment not a debarment? Part 2
Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, continues his in-depth look at this very contentious issue from a legal perspective. The FSB produced a GUIDELINE ON THE DEBARMENT PROCESS […]
When is a debarment not a debarment? Part 3
This is the third and final article in a series by Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, on this very contentious issue. What is a possible remedy? It […]
When is a debarment not a debarment? Part 1
This subject normally elicits more responses from readers than most others. Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, takes an in-depth look at this very contentious issue from a […]
Debarment of Representatives – now and post FSRA
The current provisions in the FAIS Act, 2002 and the procedures that have been adopted and applied by FSPs, and to some extent by the FSB, regarding the debarment of representatives have led, […]
Important Lessons from Debarment Appeal
There is a tendency to see legislation that regulates financial services as operating differently from other laws. While the processes may sometimes differ, the same principles apply. This became evident in a recent […]
Appeal against Debarment not Upheld
Details of appeals against decisions by the FSB’s Enforcement Committee provide very interesting insight into the practical application of legislation affecting most of our subscribers. What makes it even more interesting is that […]
Reinstatement of Debarred Key Individuals
I was recently approached by an ex key individual who was debarred by the FSB in response to information supplied by the bank who previously employed him. The reason for the debarment was […]
Debarments still a Headache
Louis Wessels, FSB legal consultant, writes in the latest FSB Bulletin that the debarment of representatives, unlike those involving key individuals, remain a taxing problem for the Regulator. Readers may recall that we […]
FSB: Debarment Guidelines
At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key […]
The Debarment Process
Monday’s article, Debarment under the Loop, was based on a High Court judgment which led to the reinstatement of a representative who was debarred. Our article evoked a flurry of enquiries from the […]
Debarment under the Loop
A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]
