Debarment for being paid a referral fee by a competitor not justified, says FST
The employer did not point to a single provision in the FAIS Act, or any other legislation, that prohibits this.
#reconsideration application
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Administrator contests Adjudicator’s determination in dispute over loss of members’ benefits
Moriting Wealth Managers was not given an opportunity to state its case before the final determination was issued.
Vital ‘ingredient’ missing in Old Mutual’s notice of intention to debar
The applicant was ‘left to guess’ the factual allegations on which the intended debarment was based, tribunal says.
Rep debarred for sharing client information while on garden leave
She alleged the evidence of her conduct was obtained through an ‘unlawful search’ of her personal email account.
Brokerage debars KI for unauthorised transmission of confidential information
Applicant tells the tribunal she transferred the information to her private Gmail account to support her complaint to the CCMA.
Tribunal may accept late reconsideration applications if good cause is shown
This case is an example of what good cause is not.
R600m dividend: Eskom’s insurance captive asks for fine to be reconsidered
The board’s rushed decision, based on unaudited interim figures, put the shareholder’s interests above those of the policyholders, tribunal says.
Tribunal sets aside debarment of consultant who changed record of advice
The far-reaching implications of debarment were not justified in the circumstances, the FST finds.
FSP debarred for allowing unlicensed FSP to operate under his licence
This case sends a serious warning to those who allow “spotters” to work under their licence.
Debarment where the relationship is governed by a franchise and an adviser agreement
Tribunal draws attention to the effect of selling the franchise house business on the financial adviser agreement.
FAIS Ombud told to reconsider complaint against Old Mutual for rejecting liability claim
Tribunal was ‘not afforded the courtesy’ of an explanation for the ombud’s failure to respond to questions from the deputy chairperson.
Conclusions depend on the facts of each case, says FST as it sets aside determination for the third time
Tribunal repeats its previous ‘recommendation’ that the FAIS Ombud obtain oral and expert evidence to resolve the disputes of fact.
Ombud’s facts and findings don’t add up, says tribunal in setting aside property syndication determination
Referring clients to another broker does not constitute advice for the purposes of the FAIS Act.
FAIS Ombud told to reconsider decision in case involving ambiguous policy wording
Insurer argues that ‘days’ means ‘normal days’, but the Financial Services Tribunal does not agree.
Debarred representative a no-show at tribunal hearing
A representative who failed to attend his debarment hearing was also a no-show when his reconsideration application was heard by the Financial Services Tribunal (FST). The representative’s ground for reconsideration was that he […]
Representatives used FSP’s client info to obtain quotes for a competitor
Financial Services Tribunal upholds their debarment, saying ‘filching’ client information is not only a contractual issue.
Bid to challenge the liquidation of transport provident fund fails
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
