The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
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The Appeal Board of the Financial Intelligence Centre (FIC) has upheld the effective penalty of R1 065 924 imposed on Gauteng-based Truck World for failing to report transactions exceeding the cash threshold of R24 999.99. […]
The statutory mandate which led to the creation of this Ombud’s office requires that it considers and disposes of complaints in a procedurally fair, informal, economical and expeditious manner, and by reference to […]
Cases heard by the Appeal Board of the FSB often provide more stringent legal certainty to matters in the financial services industry, particularly in so far as decisions by the FSB itself and […]
A recent case before the FSB Appeal Board saw the period of debarment halved which is an interesting deviation from previous views held by the Board on its powers to interfere in decisions […]
Two issues in the recent Phoshera appeal again saw the Appeal Board ask questions about the FAIS Ombud’s decisions. “This appeal is filled with procedural anomalies. First, there is the question of condonation […]
In June we reported on three new cases to be heard by the FSB Appeal Board. One of these concerned a complaint that was dismissed by the Ombud but the client, an advocate, […]
In a recent Appeal Board case, the FSP appealed against the FSB’s decision to debar her for five years. One of the grounds she raised was that her secretary failed to inform her […]
A FSP was suspended on 27 March 2015 for failure to submit a compliance report and not successfully completing the RE1 for key individuals. According to a recent Appeal Board decision, the FSP […]
In the recent “Prigge” decision, the FSB Appeal Board commented on the FAIS Ombud’s powers and duties in a fairly forthright manner. The information below is taken directly from the Appeal Board decision. […]
The decision in the Hlumbane case by the Appeal Board of the FSB provides very interesting information about the Board’s powers in terms of decisions made by the Registrar of Financial Services Providers, […]
According to an article published in Personal Finance on Saturday, the FAIS Ombud intends appealing against certain findings by the FSB Appeal Board. “Late last year, the Appeal Board of the financial services […]
The Board was recently tasked with reviewing a decision by the Registrar to debar Ms LA Teixeira for 5 years and to withdraw the authorisation of her business. The grounds for the Registrar’s […]
A recent ruling by the FAIS Ombud sheds light on the right of a client to approach the FSB Appeal Board if dissatisfied with a decision by the Ombud. In the Harten determination, […]
The Wallace determination by the Ombud, discussed in last week’s Moonstone Monitor, contained reference to the FNB/Newlove case which was referred to the FSB Appeal Board, which ruled in favour of the Ombud’s […]
Details of appeals against decisions by the FSB’s Enforcement Committee provide very interesting insight into the practical application of legislation affecting most of our subscribers. What makes it even more interesting is that […]
