Tribunal draws line between discipline and debarment
An FSP cannot treat debarment as an automatic consequence of a disciplinary finding, the Tribunal says, setting aside a process riddled with procedural failures.
Debarment
Tribunal sets aside Sanlam debarment over client cash deposits
The adviser breached Sanlam’s internal cash-handling rule, but the conduct did not establish a lack of honesty and integrity.
FSCA debarments bring Regiments Capital’s Zondo history back into focus
The debarments follow an investigation into improper payment arrangements, unlawful revenue-sharing, and procurement practices at Regiments.
Tribunal upholds debarment over R1.1m ‘protection’ payments
The applicant’s own admissions supported Sanlam’s decision, and the section 14 process does not mirror a disciplinary hearing or a trial.
Representative’s ‘fate was sealed before she was heard’
The Tribunal found both that the process was unfair and that the FSP had not established dishonesty, recklessness, or lack of fitness and propriety.
Tribunal ruling reinforces substance over form in insurance
CDH says the decision highlights the risks for businesses that incorporate cover or risk-transfer arrangements into broader commercial offerings.
FSP ‘cannot sidestep’ restraint question in dishonesty case
The Tribunal finds that the alleged misrepresentation, non-disclosure, and materiality all depended on the contractual issue the FSP declined to establish.
FST draws the line between suspicion and proof in adviser’s debarment case
The decision examines why client complaints, cellphone records, and handwriting evidence failed to establish dishonesty on a balance of probabilities.
Poor sales process alone does not justify debarment
The Tribunal held that procedural shortcomings must be distinguished from conduct showing a representative lacks honesty and integrity.
Internal record manipulation can justify debarment, Tribunal finds
Five related decisions involving former Pineapple reps illustrate how misconduct affecting internal operational records may engage the honesty and integrity requirements.
Retiring broker’s move to rival FSP was not dishonest, Tribunal finds
The source of an obligation does not determine whether disputed conduct amounts to genuine fit-and-proper misconduct.
Tribunal sets aside Sanlam debarment over procedural defects
The FSP could not prove key elements of the process, including proper notice of the proceedings, and the conduct of the hearing.
Tribunal draws a hard line on undisclosed client benefits
The decision turned on the adviser’s acceptance of personal benefits from a client, the lack of proper compliance disclosure, and the higher standard expected of a KI.
FSCA withdraws SA Army Foundation licence, fines officials R44.7m
The Authority debars two senior officials for 30 years after finding unlawful financial practices linked to the SANDF group life insurance scheme.
R2m fine as FSCA tightens net on unlicensed investment schemes
Twin enforcement actions show sustained pressure on unauthorised operators and market misconduct.
Undisclosed referrals to a competitor FSP lead to debarment
Reconsidering the matter after a High Court remittal, the Tribunal finds the referral activity failed the fit and proper test.
Debarment overturned after Tribunal criticises ‘desktop’ investigation
A failure to verify a client’s income amounted at most to negligence, but the evidence did not justify debarment for dishonesty.
