Debarment set aside as Tribunal distinguishes negligence from dishonesty
The case highlights that debarment is reserved for instances of clear, intentional breaches of integrity, not mere negligence.
FST
FSP loses bid to halt investigation and lift licence suspension
The FSCA’s decision to investigate Anova Wealth and suspend its licence remains in effect after the Tribunal declined the FSP’s applications for reconsideration.
Tribunal upholds FSCA’s sanctions for unauthorised advice
FSPs must ensure their representatives operate strictly within their authorised product categories and according to the client’s mandate.
FST ruling reinforces need to follow due process in debarments
The Tribunal finds the FSP skipped critical steps, including notifying the representative and giving her an opportunity to respond.
Tribunal upholds debarments for misusing client information
The decisions show that even thwarted attempts to breach confidentiality signal a critical lapse in integrity.
Tribunal ruling draws clear line on Adjudicator’s jurisdiction over unapproved disability claims
The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
No room for dishonesty: Tribunal upholds decision to reject FSP licence
The case illustrates how discrepancies in disclosure can undermine an individual’s suitability for a key role, resulting in the rejection of a licence application.
Dispute over cancelled policy: FST orders FAIS Ombud to reconsider decision
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
FAIS Ombud erred in dismissing complaint against insurance broker, says Tribunal
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
FS Tribunal rules on late withdrawal of appeal
The introduction of the Financial Services Tribunal (FST) created a platform for the reconsideration of decisions by any decision-maker in the financial services sector. With the establishment of the Tribunal the prediction was […]
FS Tribunal rules on late withdrawal of appeal
The introduction of the Financial Services Tribunal (FST) created a platform for the reconsideration of decisions by any decision-maker in the financial services sector. With the establishment of the Tribunal the prediction was […]
