Changes to aspects of FAIS Ombud’s approach to handling complaints

The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.

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Needs analysis not a tick box exercise

The importance of an in-depth client financial needs analysis is once more highlighted in a FAIS Ombud investigation, ruling and settlement. A financial needs analysis should not just be a tick box exercise; […]

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