Wrong email address leaves FSP unable to pursue debarment
The Tribunal found that proceedings had not commenced before the six-month deadline, preventing it from sending the matter back for reconsideration.
Debarment
Dishonesty not required for debarment on integrity grounds
The Tribunal found that a serious breach of the duty to protect confidential client information can establish unfitness even where no misuse or harm is proved.
When one dishonest act is enough for debarment
The Tribunal weighed the representative’s clean record and lack of personal gain against her deliberate falsification of a client’s investment instruction.
UPDATED | FSCA details basis for debarments of Africa Bitcoin officers
The regulator says its investigation into September 2022 share transactions found contraventions of the Financial Markets Act.
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.
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.
