Costs order against FSCA for ‘irregular and unlawful’ debarment

The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.

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Non-disclosure drama

Non-disclosure drama – Tips on the broker’s role to ensure a better outcome at claim stage In the midst of a raging social media war, journalists writing about the pros and cons of […]

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Non-compliance with FICA

Non-compliance with FICA – Failure to implement proper processes leads to fine The Prudential Authority (PA) has imposed administrative sanctions on the Johannesburg branch of HSBC Bank for non-compliance with aspects of the […]

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Legalisation of usage of dagga

Legalisation of usage of dagga – Currently more industry questions than answers Lots of questions are being asked as a result of a recent Constitutional Court ruling that effectively legalised personal possession and […]

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Client needs and circumstances

FAIS Ombud Settlement – Always take clients’ needs and circumstances into account Furnishing financial advice means adhering to a set of legislative requirements as well as keeping to certain principles. One of the […]

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FAIS Ombud Settlements

Learn from compliance mistakes made by FSPs An FSP’s interaction with clients must at all times meet the standards set out in the General Code of Conduct. The FAIS Ombud’s Annual report highlighted […]

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Fairness in Debarment Procedures

In a recent (5 October 2018) matter heard before the Financial Services Tribunal, the applicant, Ms X, applied for a reconsideration of a decision taken by the respondent, Y (the FSP). The FSP […]

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Low cost medical insurance plans outlawed

Under the heading, Discovery may go to court after CMS bans products, Legalbrief Today reports as follows: “Discovery Health (Pty) Ltd may turn to litigation after the Final Board of Appeal of the […]

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