Another property syndication determination has been sent back to the FAIS Ombud, with the Financial Services Tribunal (FST) stating that the ombud had, among other things, not dealt fairly with the evidence of expert witnesses who testified in favour of the FSP. Read: Tribunal advises FAIS Ombud on how to reconsider Sharemax determination Read: FAIS […]
The Financial Services Tribunal (FST) has sent yet another determination related to an investment in Sharemax back to the FAIS Ombud for reconsideration, with the tribunal saying the ombud needed to apply the legal tests for negligence and causation to the matter. Read: FAIS Ombud did not act impartially in Sharemax matter, says tribunal Read: […]
The Financial Services Tribunal (FST) has ordered the Pension Funds Adjudicator to reconsider a determination that attributed a fund member’s loss to the employer’s failure to submit his withdrawal form timeously to the fund. The member, “NM”, was paid a withdrawal benefit of R620 671 in April 2020, which, he claimed, was R340 000 less […]
The High Court in Johannesburg recently ordered the South African Special Risk Insurance Association (Sasria) to settle a claim by a company that lost its equipment when a colliery was flooded during labour unrest. Blackspear Holdings (Pty) Ltd, which owns earthmoving equipment used in mining, took Bryte Insurance and Sasria to court, contending that either […]
