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 […]
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
Tribunal overturns FAIS Ombud summary dismissal of complaint
The summary dismissal of a complaint by the FAIS Ombud was overturned by the Financial Sector Tribunal in a decision published on 30 April 2021. The complaint was dismissed by the Ombud in […]
Was this advice given, taking due care and diligence? You be the judge
Justice delayed is justice denied. A recent determination, which resulted in the matter being referred to the Tribunal, underlines the validity of this old saying. A brief glance at the latest determinations published […]
Was this advice given, taking due care and diligence? You be the judge
Justice delayed is justice denied. A recent determination, which resulted in the matter being referred to the Tribunal, underlines the validity of this old saying. A brief glance at the latest determinations published […]
FAIS Ombud Annual report highlights the need for TCF
During the 2019/2020 financial year the Office of the FAIS Ombud received a total of 8835 new complaints – a reduction of 5.23% from the 9323 received during the 2018/2019 financial year and […]
FAIS Ombud Annual report highlights the need for TCF
During the 2019/2020 financial year the Office of the FAIS Ombud received a total of 8835 new complaints – a reduction of 5.23% from the 9323 received during the 2018/2019 financial year and […]
New broom sweeps clean – FAIS Ombud gives life to its core values
The statutory mandate which led to the creation of this Ombud’s office requires that it considers and disposes of complaints in a procedurally fair, informal, economical and expeditious manner, and by reference to […]
Don’t put the cart before the horse – Ensure that an insured is appropriately covered
Obtain all the relevant and available information and make a recommendation that is appropriate in terms of your clients’ needs and circumstances. If advisors fail in this basic requirement, the outcome can be […]
FAIS Ombud’s advice may impact on “white collar crime” statistics
Commercial crime is amongst the top 10 most common crimes in South Africa. Yes, it resides on the same list as drug related crime and burglaries. According to the 2018 SAPS report 73 277 […]
FAIS Ombud’s advice may impact on “white collar crime” statistics
Commercial crime is amongst the top 10 most common crimes in South Africa. Yes, it resides on the same list as drug related crime and burglaries. According to the 2018 SAPS report 73 277 […]
FAIS Ombud – Alternative to determinations to resolve complaints
The Office of the FAIS Ombud recently published a media release to share its commitment to resolving complaints in a “…procedurally fair, informal, economical and expeditious manner, with reference to what is equitable […]
FAIS Ombud – Alternative to determinations to resolve complaints
The Office of the FAIS Ombud recently published a media release to share its commitment to resolving complaints in a “…procedurally fair, informal, economical and expeditious manner, with reference to what is equitable […]
FAIS Ombud settlements – An added education aid for financial advisers
In a recent media release the Office of the FAIS Ombud shared its commitment to resolve complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in […]
FAIS Ombud settlements – An added education aid for financial advisers
In a recent media release the Office of the FAIS Ombud shared its commitment to resolve complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in […]
Financial Tribunal outcome
– The right to state your case is not negotiable Audi alteram partem (or audiatur et altera pars) is a Latin phrase meaning “listen to the other side”, or “let the other side […]
Financial Tribunal outcome
– The right to state your case is not negotiable Audi alteram partem (or audiatur et altera pars) is a Latin phrase meaning “listen to the other side”, or “let the other side […]
Needs analysis not a tick box exercise
The importance of an in-depth client financial needs analysis is once more highlighted in a FAIS Ombud investigation, ruling and settlement. A financial needs analysis should not just be a tick box exercise; […]
