‘Crowd-farming’ platform co-operating with FSCA over licensing concerns
Livestock Wealth says it was under the impression, based on correspondence with the Authority, that it did not need a licence to sell agricultural assets.
FAIS act
Videos
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
Time is running out to apply for a crypto asset licence
One can continue to render crypto asset financial services if the application is submitted by 30 November.
Two defective intention notices scupper representative’s debarment
FNB argued the Tribunal should accord greater weight to the severity of the rep’s misconduct than to ‘procedural mis-steps’.
FSCA fines funeral insurance business for operating without a licence
The sanctions follow an investigation which found that the entity was not authorised and its clients were not underwritten.
Where does commission end and chargeable advice begin?
Billy Seyffert, the chief operating officer of Moonstone Compliance, will share his insights on remuneration models in the insurance industry at the upcoming FPI convention.
Former Edwafin CEO gets 10-year prison sentence for running a Ponzi scheme
Patrick Stapleton – former CEO of the notorious Edwafin investment company – was recently convicted and sentenced for running a Ponzi scheme, the workings of which seem oddly familiar.
Tribunal rules in favour of rep who found out about her debarment from the FSCA
The debarment procedure did not comply with the FAIS Act in a number of ways, the FST finds.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Former bank employee’s ‘good intentions’ not enough to avoid debarment
The Financial Services Tribunal hears another case involving a representative who ‘completed’ proof of address letter on clients’ behalf.
FSCA confirms withdrawal of Salt Asset Management’s licence
The Authority conducted an inspection on the company last year following allegations of its potential involvement in money-laundering activities.
FSP debars representative for not returning a tablet
The fact that the applicant did not sell any products or receive remuneration did not nullify his status as a representative.
Tribunal hands down decision in another MyMo accounts scandal case
Standard Bank debarred a branch team leader for using her own money to activate four accounts without the customers’ consent.
Tribunal sets aside Capitec’s debarment of a rep who joined a competitor bank
The jurisdictional fact required for the debarment was absent.
FSP ‘failed to act’ against reps implicated in hundreds of policy fraud cases
Mbalane Financial Services tells the Tribunal it was entitled to wait for a final forensic report from Old Mutual.
Before you invest … tell-tale signs that a stokvel is not the real deal
Unscrupulous operators are taking advantage of the ‘light touch’ regulation of the stokvel sector. Here’s what you should know about the laws and bodies that govern stokvels.
FSCA’s cautions and warnings to the investing public
Use the online search facility on the Authority’s website before conducting financial services business with anyone.
Tribunal rejects debarred FNB representative’s ‘prevailing practice’ defence
No evidence that staff were instructed to verify prospective clients’ addresses using blank letters provided by the municipality, FST finds.
