FSCA clarifies which trading activities require a licence
The declaration of crypto assets as a financial product does not affect financial services rendered in relation to crypto asset derivatives.
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.
Read moreThe declaration of crypto assets as a financial product does not affect financial services rendered in relation to crypto asset derivatives.
Applicant tells the tribunal she transferred the information to her private Gmail account to support her complaint to the CCMA.
Former Standard Bank staff contend that the FAIS Act did not apply to their debarment and conduct.
Authority also pulls the licence of Stringfellow Financial Services.
More than 600 investors lost their money – some exceeding R1 million each.
FST’s decision reveals a litany of problems with the procedure followed.
Applicant argues that non-compliance is not a contravention when the law does not provide for a penalty.
A single act of dishonesty, incompetence, mismanagement or negligence may not by itself be grounds for debarment.
The Authority wants to get a better understanding of the conduct risks related to crypto activities.
This case sends a serious warning to those who allow “spotters” to work under their licence.
Tribunal draws attention to the effect of selling the franchise house business on the financial adviser agreement.
The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.
The FSCA had already reduced the penalties and dropped the intention to debar for 10 years.
Tribunal repeats its previous ‘recommendation’ that the FAIS Ombud obtain oral and expert evidence to resolve the disputes of fact.
Referring clients to another broker does not constitute advice for the purposes of the FAIS Act.
And how the Financial Services Tribunal assesses whether the fine was appropriate.