It is time to clean up the mess
“When I read about the evils of drinking, I gave up reading.” – Henny Youngman This reflects how I feel lately when scanning a variety of publications every day to stay abreast of […]
FAIS Ombud
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
Send me your complaints about healthcare brokers, says FAIS Ombud
The FAIS Ombud this week issued a media release encouraging medical scheme members to lodge a complaint with her office if they believe they have been “financially prejudiced” by a healthcare broker’s advice. […]
FAIS Ombud is moving to new premises
The Office of the Ombud for Financial Services Providers is relocating from its Erasmuskloof offices to new premises in Menlyn Central, Pretoria. The FAIS Ombud said in a statement that the move is […]
Ombud calls adviser’s conduct ‘morally reprehensible’
How does one justify placing an 80-year-old Alzheimer sufferer’s funds in a syndication scheme that is being investigated by the South African Reserve Bank? A recent determination by the FAIS Ombud revealed details […]
FAIS Ombud warns FSPs about four areas of non-compliance
The FAIS Ombud has warned that complaints about the rejection of homeowner’s insurance claims will be referred to the FSCA for investigation if she believes the disclosure at inception is wanting. This was […]
Is the FAIS Ombud still providing legal certainty in a complex environment?
The latest scathing remarks from the Financial Services Tribunal regarding the Office of the FAIS Ombud’s apparent failure to execute its duties properly need to be seen in the context of the historical […]
Is the FAIS Ombud still providing legal certainty in a complex environment?
The latest scathing remarks from the Financial Services Tribunal regarding the Office of the FAIS Ombud’s apparent failure to execute its duties properly need to be seen in the context of the historical […]
Tribunal appeals to FAIS Ombud to get her act together
The Financial Services Tribunal has sharply criticised the FAIS Ombud for not holding an oral hearing during which material disputes of fact could be aired and considered, before making a finding. The tribunal […]
FAIS Ombud refers complaint to FSCA after finding that broker was dishonest
The FAIS Ombud will ask the FSCA to investigate whether a broker, her supervisor and the key individuals of AIK Brokers are fit and proper to act as FSPs after her office found […]
FAIS Ombud refers complaint to FSCA after finding that broker was dishonest
The FAIS Ombud will ask the FSCA to investigate whether a broker, her supervisor and the key individuals of AIK Brokers are fit and proper to act as FSPs after her office found […]
Who watches the watchdog?
The establishment of the Financial Services Tribunal has brought much-needed legal certainty to the industry – in particular, those who are disgruntled by the views of decision-makers, as well as rulings by the […]
Tribunal rules that FAIS Ombud failed to apply her mind to application for a court hearing
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
Tribunal rules that FAIS Ombud failed to apply her mind to application for a court hearing
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
Material non-disclosure could result in huge fines for insurers
Insurers should put processes in place to ensure that funeral policyholders are alerted when their dependants turn 21 and no longer qualify for child-dependant status, the Office of the FAIS Ombud says. It […]
FAIS Ombud rebuked by Tribunal
In the FJ Kotze case heard on 5 July 2021, the Financial Sector Tribunal made several scathing findings against the Office of the FAIS Ombud, something that the newly appointed Ombud Council would […]
FAIS Ombud rebuked by Tribunal
In the FJ Kotze case heard on 5 July 2021, the Financial Sector Tribunal made several scathing findings against the Office of the FAIS Ombud, something that the newly appointed Ombud Council would […]
Ombud Council Board Appointed
The latest FSCA newsletter provides details of this very important oversight body, established in terms of the Financial Sector Regulation Act. This Act requires financial institutions to be a member of an industry […]
