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.
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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Oceanfront’s licence provisionally withdrawn – MD linked to Medbond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at Medbond, is the managing director of Oceanfront Financial Solutions, whose FSP licence has been provisionally withdrawn.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.
Veracity Markets hit with R10 million fine for unauthorised OTC trading
Nirvesh Financial Services was also penalised for failing to ensure that its representatives, Veracity and its directors, complied with the applicable laws.
FSCA fines MyWealth DIAS and MyWealth Method more than R73m
Investors were promised returns of up to 400%, but there was no legitimate financial product or investment activity, the FSCA says.
Only days left to book for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
Investigations uncover sale of funeral policies without underwriting
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.
Unlicensed crypto and OTC derivative providers in FSCA’s crosshairs
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
It’s ‘business as usual’ for debarred director of Classic Financial Services
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
