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Sending the details later cannot cure a non-compliant notice of intention to debar
The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreThe Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.
Tribunal highlights the distinction between the processes that fall under the Labour Relations Act and the FAIS Act.
Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.
Litigation between Trustco and the JSE over the group’s financial statements.
Dismissed adviser says she helped her clients pay their premiums so they could keep their life cover while experiencing temporary financial challenges.
The onus lies with the FSP to prove the facts it relies upon to debar its representative on a balance of probabilities.
Medsafu’s letters alerted the applicant that the outcome of the process may include debarment, the Tribunal finds.
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
There are differences in the circumstances surrounding the debarments and the reconsideration applications.
The FSP conflated the requirements for debarment under section 14 of the FAIS Act with the requirements and procedure for a debarment by the FSCA.
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
The Authority’s findings in respect of an investigation have no legal consequences, the FST says.
The Financial Services Tribunal says the dispute is ‘one of the many cases where employers use labour disputes to debar FSP representatives’.
The sales agent was accused of manipulating quotes to reduce clients’ motor vehicle insurance premiums.
“In the Moment” report projects a decline in fuel prices, a deceleration in food inflation, and the possibility of an interest rate cut in the second quarter.