FSP Fined for Promoting Unregistered Foreign CIS

The Registrar of Collective Investment Schemes (“the Registrar”) referred a suspected contravention of Section 65(3) of the Collective Investment Schemes Act, No 45 of 2002 (CISCA) to the enforcement Committee. It was alleged […]

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Huge Fines after Commission Overpayments

Sanlam Developing Markets Limited and Channel Life Limited were fined R2 million and R1 million respectively for inadvertently contravening the regulations regarding maximum commissions payable. During the period 1 November 2008 to 21 […]

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Enforcement Committee Fines

We received two media releases from the FSB this week. In the first, The Lawyers Voice (Pty) Limited (“Lawyers Voice”) marketed and sold three different insurance policies which were not underwritten by a […]

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