Treasury proposes higher levies for 2026/27
Most FSCA levies will rise by 3.2%, but retirement funds face a 15% increase in the OPFA levy, and charges are introduced for some entities.
#FAISOmbud
F&I professionals urged to turn compliance into customer value
Strong engagement, clear records of advice, and a culture of ethics can help F&I professionals build trust and improve customer outcomes.
CDH flags compliance risks in replacement policy advice
The law firm says recent FAIS Ombud and Tribunal decisions highlight disclosure, suitability, and record-keeping failures in replacement policy cases.
Settlement clarifies interplay between disclosure and suitability in annuity advice
A settlement facilitated by the FAIS Ombud highlights that full disclosure of product terms does not, on its own, satisfy suitability obligations under the Code of Conduct.
Ombud case highlights risk of mismatched annuity advice and implementation
Consumers must understand product terms and ensure documentation accurately reflects agreed guarantees and beneficiaries.
Ensure you understand exclusions in business all-risks policies
A drone listed on a policy wasn’t insured for its main purpose. This case is a reminder that exclusions can cancel out the protection you think you’ve bought.
Ombud warns of surge in day-trading losses as investors underestimate risk
Many trading platforms are FSCA-licensed but expressly do not provide advice. This typically blocks successful complaints unless advice can be proved.
Levy increases for 2025/26 lower than initially proposed
Moonstone’s levy calculator enables FSPs to find out quickly how much they will pay to the FSCA, FAIS Ombud, and Tribunal.
Umboneleli Womngcwabo unyusa izigwebo ezilishumi elinambini (12) ze-FAIS Ombud ngokuchasene nayo
I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
FAIS Ombud lauds large FSPs for settling more disputes directly with consumers
New enquiries soared in 2024/25, signalling higher public awareness; yet the number of cases opened fell as many matters were settled without the Ombud’s involvement.
Funeral provider racks up 12 FAIS Ombud rulings against it
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Levies payable to the FSCA set to rise in 2025/26
The proposed amendments will also see increases in the Tribunal levy and the FAIS Ombud’s charge per KI/representative.
FAIS Ombud proposes no levy increase in 2026/27
Advocate John Simpson publishes his Office’s draft budget for public comment.
Luvuyo Burial hit with three more Ombud rulings over unpaid funeral claims
The funeral provider has faced repeated determinations this year after failing to settle valid claims.
Tribunal affirms Ombud’s stance on credit life cover complaint
After the High Court remitted the matter, a new Tribunal panel deemed the challenge ‘frivolous and vexatious’.
FAIS Ombud highlights need for follow-up when a policy changes materially
Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.
More FAIS Ombud determinations against funeral provider
Luvuyo Burial and Consulting did not pay the claims in full even after the Ombud’s Office intervened.
