Even serious misconduct requires a fair and lawful debarment process
The Tribunal’s ruling highlights that following the correct process is as important as addressing misconduct in the financial services sector.
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No room for dishonesty: Tribunal upholds decision to reject FSP licence
The case illustrates how discrepancies in disclosure can undermine an individual’s suitability for a key role, resulting in the rejection of a licence application.
Agreement can’t override an FSP’s duty to initiate debarment proceedings
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
CPA amendments: will financial services face stricter direct marketing rules?
Experts weigh in the impact on financial services of a proposed opt-out registry to protect consumers from unwanted marketing.
Dispute over cancelled policy: FST orders FAIS Ombud to reconsider decision
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
Should all tokens be equal in the crypto market?
As the regulatory framework develops, many questions remain – particularly around whether all tokens, from fungible coins to unique NFTs, will be regulated the same way.
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.
Innocent mistake? Tribunal sides with FSP in confidentiality breach case
The rep claimed he never meant to harm the FSP, but the FST found his actions violated the FAIS Act and demonstrated a lack of integrity.
Tribunal rejects adviser’s defence in confidentiality breach case
The adviser said she shared the client information to prove her remuneration when applying for a job with a competitor.
Exam fraud: FSCA urges financial firms to verify RE certificates
FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.
FSCA to implement fee increase in October
The FSCA will increase the fees it charges for various supervisory activities by 6% from tomorrow, 1 October.
Tribunal sets aside debarment involving dispute over replacement policies
The representative’s conduct of completing contracts as new instead of replacements was not motivated by dishonesty, the FST says.
Watch: MBSE launches RE training for FAIS representatives
This video explains the essential features of Moonstone Business School of Excellence’s new comprehensive RE 5 training.
Moonstone Business School of Excellence launches training for FAIS representatives
MBSE’s RE 5 training is a comprehensive course designed to enhance your understanding of key regulatory frameworks and real-world applications.
Court rules on FAIS Act exception argument in dispute over commission
The judgment clarifies aspects of the FAIS Act, particularly regarding the nature of ‘advice’ and ‘intermediary services’.
Tribunal upholds FSCA’s debarment of adviser accused of stealing clients’ money
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
