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.
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Debarment overturned after Tribunal criticises ‘desktop’ investigation
A failure to verify a client’s income amounted at most to negligence, but the evidence did not justify debarment for dishonesty.
New ‘MyWealth Method’ group surfaces as investigations grind on
A Telegram group reviving the MyWealth name is promoting crypto investment opportunities, as the FSCA’s investigations linked to earlier enforcement actions continue.
FST sets aside debarment after finding contradictions in forensic evidence
Sanlam found that the client’s signatures were forged, but its own handwriting expert came to a different conclusion.
FST affirms strict honesty standard in document alteration case
The Tribunal upholds the debarment of an F&I consultant who altered delivery and witness details on vehicle finance documents.
Sanlam’s conflict-of-interest findings upheld in debarment reconsideration
The FSP was entitled, on the information before it, to conclude that the rep no longer satisfied the fit and proper requirements.
Transfer of client data justified debarment, Tribunal finds
Transferring client data to a personal, unauthorised account is sufficient to undermine the trust and integrity required of a representative.
Two-pot reform does not unlock vested RA benefits – Tribunal
The system introduced limited access to savings components, but it did not change the longstanding withdrawal restrictions applicable to RAs.
Debarment set aside after Tribunal flags timing discrepancies
The effective date recorded on the FSCA’s register pre-dated any opportunity to make representations.
Tribunal misapplied legal test in debarment reconsideration, High Court rules
The FST erred because it focused on contractual obligations rather than the broader fit and proper requirements.
Tribunal upholds debarment despite rep’s remorse and financial hardship
The falsification of an insurance claim and improper referral payments are incompatible with the fit and proper requirements.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
Rulings define scope of PA’s powers under transitional insurance laws
The Tribunal and the High Court delivered key decisions emphasising proportional enforcement and the proper use of transitional provisions.
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.
Tribunal sets aside OUTsurance debarment over evidentiary gaps
The insurer did not provide supporting documents or call recordings that could resolve the material disputes of fact.
Tribunal: Debarments invalid without proper notice
Despite a guilty plea at a disciplinary hearing, a rep’s debarment was set aside after the Tribunal found the FSP had not followed the prescribed process.
Adjudicator lacks jurisdiction over unapproved disability policies
Tribunal confirms that only benefits administered by a registered fund fall under the Pension Funds Adjudicator’s jurisdiction.
