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Archive | Compliance and Legislation

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Disclosure guidelines – Code of Conduct principles revisited

A recent Financial Services Tribunal case to reconsider the ruling of the Ombud for Financial Services Providers, once again highlighted important provisions of the Code of Conduct for Financial Services Providers. The Tribunal specifically investigated whether the Ombud had made a mistake to conclude that the applicant failed to take reasonable steps to ensure that […]

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financial-industry

Compliance with conduct standards – What challenges remain for financial services industry?

As part of an assessment of the commitment to conduct standards in the sector, DB & Associates, a management consulting firm operating in South Africa and Australia, held over 100 meetings with the executive leadership of the top 25 firms in South Africa’s financial sector over the past 18 months. This coincided with a Royal Commission of Inquiry […]

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Financial Services Tribunal – New premises and new rules

Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came into effect on 1 April 2018. Upon application by aggrieved persons, the Tribunal reconsiders decisions of decision-makers as defined in terms of section 218 of […]

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