High Court orders insurer to reconsider unfair debarment carried out in 2016
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Reconsideration
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Ex-employees implicated in MyMo accounts scandal take debarments to the tribunal
Former Standard Bank staff contend that the FAIS Act did not apply to their debarment and conduct.
FAIS Ombud did not deal with experts’ evidence fairly, says tribunal
Another property syndication determination has been sent back to the FAIS Ombud, with the Financial Services Tribunal (FST) stating that the ombud had, among other things, not dealt fairly with the evidence of […]
Tribunal sets aside debarment of bank employee accused of sharing confidential information
The Financial Services Tribunal (FST) has set aside the debarment of a bank employee, saying the possibility or suspicion of the transgression was not a sufficient reason for him to be debarred. The […]
Tribunal advises FAIS Ombud on how to reconsider Sharemax determination
The Financial Services Tribunal (FST) has sent yet another determination related to an investment in Sharemax back to the FAIS Ombud for reconsideration, with the tribunal saying the ombud needed to apply the […]
FSCA must set a time limit on debarments, says tribunal
The FSCA cannot debar someone indefinitely – the FAIS Act requires a time limit, the Financial Services Tribunal (FST) said when it set aside this aspect of a debarment order and told the […]
Why you should ask a regulator for reasons for a decision
If you are at the receiving end of an adverse decision by a financial services regulator, you should make use of your right to request reasons for the decision, because this may result […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Financial Services Tribunal rules updated – Guidelines to apply for reconsideration
The Financial Services Tribunal, which replaced the FSB Appeal Board from 1 April 2018, provides a person who is “aggrieved” by a “decision” of a “decision-maker” to apply to the Tribunal for a reconsideration of […]
