When does an ‘employee’ become a ‘representative’ who can be debarred?
Material discrepancies about a newly appointed financial planner’s employment history came to light while she was being on-boarded.
The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.
Read moreMaterial discrepancies about a newly appointed financial planner’s employment history came to light while she was being on-boarded.
In one case, the FSP was still investigating the alleged fraud when it decided to bar the representative.
His FSPs were fined a total of R250 000 for selling two products before they were licensed.
The fund said the automated payment of the spouse’s 50% interest was already in process, and the payment could not be stopped.
The decision highlights numerous irregularities at the Private Security Sector Provident Fund that were not reported to the FSCA.
The decision sets out how PSSPF board members racked up fees for meetings and ignored the fund’s procurement policy.
The employer did not point to a single provision in the FAIS Act, or any other legislation, that prohibits this.
Moriting Wealth Managers was not given an opportunity to state its case before the final determination was issued.
The applicant was ‘left to guess’ the factual allegations on which the intended debarment was based, tribunal says.
That the parties entered the agreement after the notice of intention to debar had been sent was highly relevant.
She alleged the evidence of her conduct was obtained through an ‘unlawful search’ of her personal email account.
Case of Smart Billion highlights what is expected of KIs, says FSCA.
The penalties imposed by the Authority on Viceroy and Markus Jooste came to R211 million.
Applicant tells the tribunal she transferred the information to her private Gmail account to support her complaint to the CCMA.
This case is an example of what good cause is not.
The board’s rushed decision, based on unaudited interim figures, put the shareholder’s interests above those of the policyholders, tribunal says.