Two-pot withdrawal allowed: fund’s arrears rule doesn’t apply to member
The deputy adjudicator finds the ‘freeze’ clause the fund relied on is tied to its DB rules and can’t be used to block a DC member’s savings withdrawal.
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Tribunal: liquidation does not bar arrear contributions complaint
The Adjudicator conflated jurisdiction with enforcement and overlooked the potential personal-liability provisions in the PFA.
Fund rules prevail over ‘informal understanding’ in contribution dispute
The Tribunal says membership could end only in accordance with the fund’s rules, and WhatsApp exchanges did not amount to a valid withdrawal.
Tribunal dismisses R824 000 claim over delayed fund credit transfer
The FST rejects the member’s loss calculation based on assumed money market returns, affirming that the fund’s rules limit accrual to bank interest.
Tribunal upholds PA decision on bank’s ‘simulated’ capital transaction
The FST dismisses African Bank’s application to overturn a directive to reverse a R685m intra-group transaction, finding it lacked commercial substance.
Tribunal clarifies limits on investor challenges to FSCA in curatorship case
The dismissal of a reconsideration application by CMM investors underscores that only direct legal rights – not indirect financial interests – confer standing under the FSRA.
Undisclosed referrals to a competitor FSP lead to debarment
Reconsidering the matter after a High Court remittal, the Tribunal finds the referral activity failed the fit and proper test.
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.
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.
