Debarment proceedings time bar clarified
An interesting recent finding by the Financial Sector Tribunal sheds some light on how sec 14(5) of the Financial Sector Regulation Act 9 of 2017 should be interpreted. The applicant applied for the […]
Debarment
Two wrongs doth not a right make
Regular readers will know that I have expressed my frustrations in the past with people who approached the Financial Sector Tribunal for leniency despite being blatantly dishonest. A recent decision by the Tribunal […]
Dishonesty and debarment
A recent Financial Sector Tribunal decision raised two very interesting perspectives on when dishonesty should not be used as grounds for debarment. Case number one The debarment was based on a finding that […]
Tribunal finding that Industry is improving in debarment process
A fundamental character trait of a person who provides financial services and furnishes advice to members of the public is honesty and integrity. This goes hand in hand with conducting business with the […]
Tribunal finding that Industry is improving in debarment process
A fundamental character trait of a person who provides financial services and furnishes advice to members of the public is honesty and integrity. This goes hand in hand with conducting business with the […]
Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
Debarments – Don’t put your head in the sand
On 1 April 2018, the debarment process under the FAIS Act was amended by the Financial Sector Regulation Act 9 of 2017 (FSRA). Since then, many debarment cases have been referred to the Tribunal. […]
Non-compliance leads to administrative penalty and debarment
Failure to comply with regulatory requirements can be a costly mistake. In a recent case, the Financial Sector Conduct Authority (FSCA) withdrew the FSP licence of Dikwena Funeral Parlour (Pty) Ltd, debarred Mr. […]
Honesty and integrity – Are there different shades of grey?
Cheating, fraud and many other forms of unethical behaviour are amongst the biggest personal and societal challenges of our time. In South Africa, we are confronted daily by media reports concerned with allegations […]
Should a separate debarment hearing follow after disciplinary hearing? – Supreme Court of Appeal clarifies the issue
by Joani van Vuuren, Shane Johnson, Siya Ngcamu of Webber Wentzel In a recent decision, the Supreme Court of Appeal (SCA) considered the interplay between disciplinary inquiries convened under the Labour Relations Act […]
Debarment hearing notification – When and how can an email be used?
Sales staff turnover in the financial services industry has always been notoriously high. Of late, it has become evident, from decisions by the Financial Services Tribunal, that due process was not always followed […]
Debarment – When can a FSP debar an ex-employee?
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
Tribunal Debarment Decision – Wilful disregard of FAIS requirements not acceptable
The abhorrent practise of submitting a single premium investment as a recurring premium policy to earn a substantially higher commission is nothing new. If you then, in addition, destroy documentary evidence in the […]
Debarment appeal – Honesty and Integrity AT ALL TIMES, rules Tribunal
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
Debarment appeal – Honesty and Integrity AT ALL TIMES, rules Tribunal
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
Debarment – FSCA’s role in the process
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. The Guidance […]
Debarment – 3 critical steps to comply
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. It is […]
