Secondary

Tag Archives | causation

The-Villa

Tribunal advises FAIS Ombud on how to reconsider Sharemax determination

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: […]

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dominoes

Was market volatility or admin problems the reason a fund member lost R340 000?

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 […]

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flooded-mine

High Court orders Sasria to pay up for equipment lost during flooding

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 […]

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