Secondary

Section 14A Debarments

The ASISA publication contains a wealth of useful information:

ASISA Members reported that section 14A debarments continue to be a very long process. Employers are at risk when appointing or dealing with persons who have been recommended for debarment but continue to operate.

At a meeting in December 2012, the FSB reiterated the difficulties they are faced with during investigations in respect of recommendations received. These are generally the lack of responses to debarment notifications, insufficient information submitted with recommendations, uncooperative complainants and a large number of malicious recommendations. In order to improve the process, the FSB is designing an online facility for the representative registers of financial services providers. This will enable all debarments to be recorded on the FSB system directly. The FSB will also adopt a different approach in respect of the delivery of debarment notifications after studying a recent constitutional court judgement relating to the serving of notices.

Until such time as this becomes a reality, we suggest readers follow the guidelines contained in this FSB document.

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