Representatives also at Risk
In a recent Ombud Determination (JJ & GH Carstens and Paarl Financial Advisors CC & JA Bartman) dated 12th October 2016, the Ombud made reference to the Appeal Board determination in the first (2013) appeal […]
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Second Appeal also unsuccessful
The Ombud made a determination on 30 March 2012, holding the appellants liable for the repayment of the amount invested. An appeal was upheld by the Appeal Board on 26 February 2014. In terms of the order, […]
Ombud Advice to Policyholders
The Short-term Ombud warned policyholders against taking premium holidays when there is too much month at the end of the money. During tough economic times, cash-strapped consumers are forced to prioritise their monthly […]
Ombud Overturns Rejected Claim
The latest Ombudsman’s Briefcase contains a number of case studies. It is interesting to note that the insurers involved are named in all of these cases. Below is one such a case, and […]
FAIS Ombud – Harten Determination
This complaint was originally dismissed by the FAIS Ombud on the basis that there was no reasonable prospect of success. The client reverted to the Board of Appeal who ruled that the Ombud’s […]
Long-term Ombud Performance Review
Judge Leona Theron, a judge of the Supreme Court of Appeal and Chairperson of the Long-term Ombudsman Council, made mention in the 2015 annual report of an independent review of the office of […]
Ombud holds Insurer liable for Sharemax loss
During September 2009 James Wallace, the complainant, consulted his Momentum representative, Ian Marais, about investing his mother’s money as well as some of his own. His seventy year old mother resided in the […]
Community Schemes Ombud Envisaged
Legalbrief reported on 4 May that an ombudsman for sectional title and community schemes will be ‘formally established’ during the current financial year – giving practical effect to the 2011 Act. Noting the ‘unexpected […]
Claims and Medical Opinions
The Long-term Ombud’s Ombuzz Issue 33: April 2016 contains some very interesting case studies on the role of medical opinions when claims are repudiated. In many complaints our office has to deal with […]
The importance of proper record keeping
The Buthelezi determination by the FAIS Ombud, signed on 12 January 2016, highlights again the need for accurate record keeping and the dangers inherent in not completing an application form fully whilst at the client. […]
Material Terms and Speculative Complaints
There appears to be different views between certain Ombuds on the obligations of various parties in disclosing material terms which are required to assist a client in making an informed decision. It also […]
FAIS Ombud Rules on RVAF Investment
The reasons for the sad ending to the Relative Value Arbitrage Fund, for both investors and advisors, are evident from this, the first determination by the Ombud on the Herman Pretorius saga. A […]
Bluezone Directors Held Liable for Losses
In a 74-page determination, the FAIS Ombud sets out in detail why she found it necessary to implicate not only the advisor, but also the directors of Blue Zone in a complaint from […]
