R1.18m fine and five-year debarment for unauthorised CFD trading
The FSCA’s investigation also found that Petrus Rasmus Erasmus provided trading signals without a licence.
Fine
Funeral home fined R11.4m for unauthorised insurance business
The two directors were debarred for 20 and 10 years, respectively.
Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
FSCA fines funeral service R4.4m for unauthorised insurance operations
The two directors of Hernell Funerals have been debarred for 10 years and five years, respectively.
FSCA slaps R2.1m fine and 20-year ban on unauthorised forex operator
An investigation found that Greyshore Investments solicited deposits while promising to trade on behalf of investors, without the necessary authorisation.
Online trader fined R1 million and debarred for 12 years
The Authority’s investigation found that most of Lehumo Securities’ client funds were not invested, and returns were paid out from the funds collected.
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
FSCA sets aside R216m fine and 10-year debarment
The Authority has agreed to reconsider the penalties it imposed on ‘Coenie’ Botha, the founder of Coin Based Innovation Global.
Financial services provider slapped with R400 000 fine for FICA violations
Implementing – not merely creating – a Risk Management and Compliance Programme is crucial to ensure compliance with the Act.
FSCA welcomes decision to uphold revised R20m fine on Markus Jooste
‘Conduct of this kind undermines public confidence in financial markets and leads the general public to believe that the system is rigged and unfair,’ Tribunal says.
Tribunal rules on Brite’s application to reconsider R10m fine and licence withdrawal
Did the FSCA’s regulatory reach extended to UK pension funds and structures, held offshore, and permitted and regulated by UK and European Union law?
Department of Justice fined R5m for non-compliance with Popia
This should serve as a warning to all organisations to get their proverbial data protection house in order, says law firm.
FSCA fines forex trader R100 000 for breaking ODP regulations
The Authority takes regulatory action against JP Markets again.
FSCA imposes R2.5m fine for unauthorised derivatives trading
About R1 million in investors’ funds was misappropriated.
Keenan Ebden fined R1m and debarred for 15 years
More than 600 investors lost their money – some exceeding R1 million each.
Key individual asks for R500k fine and five-year debarment to be reconsidered
Applicant argues that non-compliance is not a contravention when the law does not provide for a penalty.
