Ombud Council to Oversee Various Ombud Schemes

The Financial Sector Regulation (FSR) Act was signed by the President in August 2017. The National Treasury announced that it will be publishing a series of consultation documents, setting out in more detail the […]

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Case studies from the Short-term Ombud

The October edition of the OSTI Briefcase contains some interesting insights on two complaints, in particular. Promissary warranty The issue for determination in this matter was whether the insurer was entitled to reject […]

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Was Ombud entitled to bend the rules?

This question will be answered on 30 November, when the J C Mostert / L Landman appeal against a determination by the FAIS Ombud Appeal is heard by the FSB Appeal Board. We believe […]

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A second bite at the apple

The Groenewald determination, which just came to hand, indicates a more democratic approach by the Ombud. In the past, a determination was made, signed, sealed and delivered. This case saw the Ombud make […]

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Remorse and Forgiveness

Reviews of decisions by the Registrar and the FAIS Ombud tend to take a slightly more formal and legalistic approach. In the case of the FSB, particularly, it also provides insight into cases […]

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Appeal Board upholds Ombud Decision

In June we reported on three new cases to be heard by the FSB Appeal Board. One of these concerned a complaint that was dismissed by the Ombud but the client, an advocate, […]

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Pick the right Ombud

This case reminds me of a Dennis the Menace cartoon where he walks up to his dad and says: “Pick a card – any card.” Dad picks a card and Dennis says: “No, […]

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Have Ye no Shame?

The audacity of criminals appear to increase in leaps and bounds, as witnessed by a case study published in the Short-term Ombud’s latest annual report. The complainant approached the office of the Ombudsman […]

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Appeal Board Comments on Ombud

In the recent “Prigge” decision, the FSB Appeal Board commented on the FAIS Ombud’s powers and duties in a fairly forthright manner. The information below is taken directly from the Appeal Board decision. […]

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Review Material Terms Regularly

We recently discussed two determinations made by the Ombud for Financial Services Providers in which she found that the respondents were lacking in their duty to provide clients with a reasonable explanation of […]

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What keeps the LT Ombudsman awake at night? Part 2

From the Long-term Ombud’s 2016 annual report: The Assessors and Adjudicators in the Long-term Ombud’s office were canvassed about the issues that currently fall into this category. Last week we discussed “Bad Bargains” […]

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The Appeal Board of the FSB

Twenty four determinations were issued by the FAIS Ombud in the 2015/2016 financial year, half of which concerned short-term insurance products. Settlements, where respondents “pleaded guilty” amounted to a staggering 1 150. So far, […]

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Slim vang sy baas

This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were […]

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Short-term Shortcuts

New Ombud’s Briefcase The OSTI Briefcase issue 3 of 2016 contains a number of interesting case studies, including: The rejection of a claim for accidental damage on the ground that the person riding […]

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