Holistic advice ‘the key factor’ in impact of two pots on clients

Clients whose financial habits have been moulded by sound advice over many years are unlikely to act irresponsibly now, says Fairbairn’s Guy Holwill.

Contravention must be ‘material’ to justify a debarment, Tribunal says

Decision set aside, although the FSP was correct in finding that the representative contravened the General Code of Conduct.

Sharemax case: High Court rules on the status of the FST chairperson’s decisions

The adviser brought an application for the FAIS Ombud’s determination and the Tribunal chairperson’s decision to be reviewed in terms of PAJA.

Sending the details later cannot cure a non-compliant notice of intention to debar

The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.

CCMA settlement agreement does not invalidate debarment

Tribunal highlights the distinction between the processes that fall under the Labour Relations Act and the FAIS Act.

FSCA releases list of licensed crypto asset service providers

Not meeting the operational ability and competency requirements are the main reasons the Authority rejected licence applications.

Authority highlights regulatory focus areas in 2024

FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.

FSCA to act to recover R495m in fines owed by Jooste

Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.

FSP alleges rep not financially sound because he missed car repayments

The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.

FSCA flags MyWealth Legatus

The Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.

Doing clients ‘a good turn’ doesn’t deserve debarment, rep tells Tribunal

Dismissed adviser says she helped her clients pay their premiums so they could keep their life cover while experiencing temporary financial challenges.

AfriForum criticises Craig Warriner’s plea deal for lack of disclosure

The recent plea deal resulting in a 25-year prison sentence for Craig Warriner is under scrutiny for allegedly failing to serve the interests of justice and providing minimal benefit to the State beyond administrative closure.

FSCA withdraws licence of FSP linked to collapsed N-e-FG

The Hawks and the Authority are still investigating whether any of the assets administered by N-e-FG can be recovered.

Oceanfront’s licence provisionally withdrawn – MD linked to Medbond

Jaco van Heerden, once a director at Medbond, is the managing director of Oceanfront Financial Solutions, whose FSP licence has been provisionally withdrawn.

High Court orders insurer to reconsider unfair debarment carried out in 2016

The applicant only became aware in May last year that the decision to debar her constituted administrative action.

FSCA shares list of currently licensed crypto asset service providers

The Authority responds to media statements by entities claiming to be the first or only licensed institutions.

Absence of explicit ‘notice of intention to debar’ not procedurally unfair

Medsafu’s letters alerted the applicant that the outcome of the process may include debarment, the Tribunal finds.