Tribunal upholds debarment for unauthorised transactions
Despite claims of verbal consent from her client, the FST found the adviser’s informal arrangements did not satisfy the requirements for written, explicit authorisation.
#FaisAct
Wealth management certificate gives top achievers clarity and confidence
For two high achievers, MBSE’s Higher Certificate in Wealth Management didn’t just build skills – it affirmed their passion, sharpened their career focus, and gave them the confidence to grow in the financial planning industry.
Strengthening South Africa’s sustainable finance framework
The FSCA’s Sustainable Finance Programme seeks to harmonise local markets with global ESG standards – focusing on taxonomy, disclosure, reporting and investor education to bolster climate resilience.
Lack of full and frank disclosure sinks FSP’s licence application
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
Do fines deliver justice for victims of financial misconduct?
The FSCA’s success in collecting penalties remains uneven because of several structural and legal challenges.
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.
Tribunal sets aside broker’s debarment based on contractual grievances
The FSP’s allegations that the representative violated the terms of the settlement and service agreements did constitute a material breach of the FAIS Act.
Tribunal upholds R1m fine and 15-year debarment for unlicensed trading
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Tribunal upholds strict timing for FSP debarments
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
COFI countdown: FSPs urged to prepare with the precision of a World Cup coach
Compliance expert Anton Swanepoel says financial services providers must adopt a winning mindset, strategy, and tech-driven approach.
Nessfin’s licence pulled amid fallout from MyWealth-linked entities
The FSCA has provisionally withdrawn Nessfin’s licence amid concerns over its ties to unauthorised entity MyWealth Legatus and potential breaches of financial sector laws.
COFI is coming – and FSPs can’t afford to wait
Early preparation for COFI will give firms a competitive edge and help to avoid the compliance scramble seen during FAIS implementation.
FSCA urges financial institutions to verify CPD providers
The Authority says an entity called LearnOn was found to have issued invalid certificates linked to the Financial Planning Institute.
Reappointment, not a stopwatch: Tribunal on FSP debarment durations
Unlike FSCA-imposed bans with fixed terms, debarments driven by an FSP stay in force until another FSP is convinced a rep is Fit and Proper.
Former financial planner’s debarment over client loans upheld
The Tribunal confirmed Standard Bank’s decision to debar its representative for borrowing thousands of rands from his clients and failing to disclose his outside business activities.
How professional indemnity fits into broker risk management
Overlooking crucial risk management steps can significantly affect brokers’ liability exposure and their PI insurance coverage.
R1.18m fine and five-year debarment for unauthorised CFD trading
The FSCA’s investigation also found that Petrus Rasmus Erasmus provided trading signals without a licence.
