Contravention must be ‘material’ to justify a debarment, Tribunal says
Decision set aside, although the FSP was correct in finding that the representative contravened the General Code of Conduct.
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Sharemax case: High Court rules on the status of the FST chairperson’s decisions
The adviser brought an application for the FAIS Ombud’s determination and the Tribunal chairperson’s decision to be reviewed in terms of PAJA.
Sending the details later cannot cure a non-compliant notice of intention to debar
The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.
CCMA settlement agreement does not invalidate debarment
Tribunal highlights the distinction between the processes that fall under the Labour Relations Act and the FAIS Act.
FSCA to act to recover R495m in fines owed by Jooste
Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
FSP alleges rep not financially sound because he missed car repayments
The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.
SCA rules on composition of Financial Services Tribunal panels
Litigation between Trustco and the JSE over the group’s financial statements.
Doing clients ‘a good turn’ doesn’t deserve debarment, rep tells Tribunal
Dismissed adviser says she helped her clients pay their premiums so they could keep their life cover while experiencing temporary financial challenges.
Insurance quote manipulation: Tribunal orders Discovery to reconsider debarments
The onus lies with the FSP to prove the facts it relies upon to debar its representative on a balance of probabilities.
Absence of explicit ‘notice of intention to debar’ not procedurally unfair
Medsafu’s letters alerted the applicant that the outcome of the process may include debarment, the Tribunal finds.
Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
Same falsified Uber receipts, but a different outcome at the Tribunal
There are differences in the circumstances surrounding the debarments and the reconsideration applications.
FSP tries to debar another firm’s representative who approached its clients
The FSP conflated the requirements for debarment under section 14 of the FAIS Act with the requirements and procedure for a debarment by the FSCA.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
Insurer seeks costs order against debarred representative
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
What qualifies as an FSCA decision that can be reconsidered by the Tribunal?
The Authority’s findings in respect of an investigation have no legal consequences, the FST says.
Tribunal upholds decision to debar F&I marketer for falsifying client’s signature
The rep said she corrected the errors herself to avoid inconveniencing the customer and embarrassing the company, not to commit fraud.
