Ex-employees implicated in MyMo accounts scandal take debarments to the tribunal
Former Standard Bank staff contend that the FAIS Act did not apply to their debarment and conduct.
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
FSCA provisionally withdraws Prosper’s licence following its liquidation
Authority also pulls the licence of Stringfellow Financial Services.
Keenan Ebden fined R1m and debarred for 15 years
More than 600 investors lost their money – some exceeding R1 million each.
Why the tribunal didn’t send this debarment decision back to the FSP
FST’s decision reveals a litany of problems with the procedure followed.
Key individual asks for R500k fine and five-year debarment to be reconsidered
Applicant argues that non-compliance is not a contravention when the law does not provide for a penalty.
What are the acceptable grounds for debarments?
A single act of dishonesty, incompetence, mismanagement or negligence may not by itself be grounds for debarment.
Deadline for crypto asset FSPs to complete FSCA questionnaire
The Authority wants to get a better understanding of the conduct risks related to crypto activities.
FSP debarred for allowing unlicensed FSP to operate under his licence
This case sends a serious warning to those who allow “spotters” to work under their licence.
Debarment where the relationship is governed by a franchise and an adviser agreement
Tribunal draws attention to the effect of selling the franchise house business on the financial adviser agreement.
FSCA publishes amendments to the General Code of Conduct
The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.
Unemployed trader applies to tribunal to have penalties reduced
The FSCA had already reduced the penalties and dropped the intention to debar for 10 years.
Conclusions depend on the facts of each case, says FST as it sets aside determination for the third time
Tribunal repeats its previous ‘recommendation’ that the FAIS Ombud obtain oral and expert evidence to resolve the disputes of fact.
Ombud’s facts and findings don’t add up, says tribunal in setting aside property syndication determination
Referring clients to another broker does not constitute advice for the purposes of the FAIS Act.
How the FSCA decides on the size of an administrative penalty
And how the Financial Services Tribunal assesses whether the fine was appropriate.
FAIS Ombud’s report identifies FSP ‘problem areas’
These include delays with funeral policy claims, advice to clients who buy living annuities, and insurance policy disclosures.
FSCA workshops on irregularity reports and funeral parlour FSPs
Attendance is limited to the first 1 300 people who register.
Crypto assets as a financial product: what are the exchange control and tax implications?
It’s possible that, at some point, providers of crypto asset services will be required to submit third-party data to Sars.
