Insurer seeks costs order against debarred representative
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
Debarment
Tribunal upholds decision to debar F&I marketer for falsifying client’s signature
The rep said she corrected the errors herself to avoid inconveniencing the customer and embarrassing the company, not to commit fraud.
Tribunal sets aside WesBank’s debarment of financial and insurance marketer
The Financial Services Tribunal says the dispute is ‘one of the many cases where employers use labour disputes to debar FSP representatives’.
Evidence of material bias in Discovery Connect debarment, says Tribunal
The sales agent was accused of manipulating quotes to reduce clients’ motor vehicle insurance premiums.
KI’s enquiries could have prevented losses suffered by Stringfellow clients, says FST
‘A key individual is not only responsible to oversee the categories of financial services for which he is licensed, but he bears an oversight role in relation to the FSP generally.’
Tribunal sets aside debarment of rep who copied and pasted a client’s signature
An affidavit from the client contradicts the bank’s version that the representative acted fraudulently.
Discovery Connect acts against sales agents who manipulated clients’ policies
The Financial Services Tribunal hears the reconsideration applications brought by three of the 15 implicated agents.
Two defective intention notices scupper representative’s debarment
FNB argued the Tribunal should accord greater weight to the severity of the rep’s misconduct than to ‘procedural mis-steps’.
Tribunal: a CCMA case has nothing to do with debarment
The FST emphasises that labour-related and FAIS-related matters are distinct.
Rep’s version of accessing client’s account ‘doesn’t ring true’, says Tribunal
The FST questions why he would take a call on his private cellphone from a friend of a friend and access confidential information without authority.
Tribunal rules in favour of rep who found out about her debarment from the FSCA
The debarment procedure did not comply with the FAIS Act in a number of ways, the FST finds.
Former bank employee’s ‘good intentions’ not enough to avoid debarment
The Financial Services Tribunal hears another case involving a representative who ‘completed’ proof of address letter on clients’ behalf.
FSP debars representative for not returning a tablet
The fact that the applicant did not sell any products or receive remuneration did not nullify his status as a representative.
Tribunal hands down decision in another MyMo accounts scandal case
Standard Bank debarred a branch team leader for using her own money to activate four accounts without the customers’ consent.
Tribunal sets aside Capitec’s debarment of a rep who joined a competitor bank
The jurisdictional fact required for the debarment was absent.
Representative debarred for submitting falsified Uber receipts
The Tribunal reiterates that FSPs should not issue a debarment purely on the outcome of a disciplinary hearing.
Forex trader seeks to have R20m fine and 20-year debarment reconsidered
Craig Massyn submits the penalties imposed on him were disproportionately large compared to those imposed on the other directors of the Praesidium Group.
