Multimillion-rand penalties levied across Medbond Group
The FSCA imposes a R197m fine on Medbond Insurance Brokers and its principal, whom it debarred for 30 years.
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R12.6m fine, 15-year ban send strong warning on unauthorised insurance
The FSCA’s investigation concluded that South African Relocations and The Relocations Group offered marine insurance without registration.
R2.1m in penalties: FSCA shuts down unauthorised forex scheme
The FSCA has fined two individuals R2.1 million and debarred them for 20 years after uncovering an unauthorised forex-trading scheme that drew in hundreds of investors.
FSPs’ ‘growing vigilance’ sees debarments rise by over 40%
The FSCA records a marked increase in new investigations in 2024/25, particularly those related to unregistered insurance business.
Five years to finalise an investigation and impose a sanction is ‘unreasonable’
The Tribunal says individuals who are subject to administrative action are entitled to fair processes that include the speedy finalisation of their matter
Online trader fined R1 million and debarred for 12 years
The Authority’s investigation found that most of Lehumo Securities’ client funds were not invested, and returns were paid out from the funds collected.
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
