The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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We receive enquiries on a daily basis from (often disgruntled) representatives who wish to re-enter the industry by applying to have their debarment lifted. Unfortunately, as a representative, you cannot apply to have […]
Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, continues his in-depth look at this very contentious issue from a legal perspective. The FSB produced a GUIDELINE ON THE DEBARMENT PROCESS […]
This is the third and final article in a series by Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, on this very contentious issue. What is a possible remedy? It […]
This subject normally elicits more responses from readers than most others. Alan Holton of Compliance Monitoring Systems, and a Moonstone Compliance associate, takes an in-depth look at this very contentious issue from a […]
The current provisions in the FAIS Act, 2002 and the procedures that have been adopted and applied by FSPs, and to some extent by the FSB, regarding the debarment of representatives have led, […]
There is a tendency to see legislation that regulates financial services as operating differently from other laws. While the processes may sometimes differ, the same principles apply. This became evident in a recent […]
Details of appeals against decisions by the FSB’s Enforcement Committee provide very interesting insight into the practical application of legislation affecting most of our subscribers. What makes it even more interesting is that […]
I was recently approached by an ex key individual who was debarred by the FSB in response to information supplied by the bank who previously employed him. The reason for the debarment was […]
Louis Wessels, FSB legal consultant, writes in the latest FSB Bulletin that the debarment of representatives, unlike those involving key individuals, remain a taxing problem for the Regulator. Readers may recall that we […]
At the end of October, we published an article titled, New Debarment Notification Document, containing details of a new form which has to be completed and sent to the FSB when a key […]
Monday’s article, Debarment under the Loop, was based on a High Court judgment which led to the reinstatement of a representative who was debarred. Our article evoked a flurry of enquiries from the […]
A recent finding in a high court case in Port Elizabeth, serves as a timely reminder to Key Individuals and Compliance Officers to be very circumspect when debarring a representative. A representative, who […]
