An FSP can institute debarment proceedings against a representative for breaches of contract as long as the contractual breaches also result in a failure to meet the Fit and Proper Requirements or are […]
From a number of recent tribunal decisions, it seems that some intermediaries do not understand the purpose of the Financial Services Tribunal – in particular, that it functions as an appeal mechanism only. […]
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
Judging by how many debarments are overturned by the Tribunal, this appears to be a matter requiring a revisit. On 6 June 2019, the FSCA published Guidance Notice 1 of 2019 to: provide […]
Judging by how many debarments are overturned by the Tribunal, this appears to be a matter requiring a revisit. On 6 June 2019, the FSCA published Guidance Notice 1 of 2019 to: provide […]
A recent determination by the Financial Sector Tribunal contains this very interesting paragraph: A debarment may not be used to satisfy a provider’s contractual or other grievances against a representative, unrelated to fitness […]
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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. […]
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. […]
