Tribunal upholds debarment for unauthorised transactions
Despite claims of verbal consent from her client, the FST found the adviser’s informal arrangements did not satisfy the requirements for written, explicit authorisation.
#FitandProperRequirements
Lack of full and frank disclosure sinks FSP’s licence application
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
Tribunal sets aside broker’s debarment based on contractual grievances
The FSP’s allegations that the representative violated the terms of the settlement and service agreements did constitute a material breach of the FAIS Act.
Make your CPD hours count before the 31 May deadline
With the clock ticking, MBSE’s flexible, value-packed online CPD courses help you stay compliant and grow professionally – even at the last minute.
Tribunal upholds FSCA’s sanctions for unauthorised advice
FSPs must ensure their representatives operate strictly within their authorised product categories and according to the client’s mandate.
FSCA crypto licensing update: more than 240 CASPs approved
Of the 420 CASP licence applications received, nine were declined, while 106 applications were voluntarily withdrawn.
No room for dishonesty: Tribunal upholds decision to reject FSP licence
The case illustrates how discrepancies in disclosure can undermine an individual’s suitability for a key role, resulting in the rejection of a licence application.
Innocent mistake? Tribunal sides with FSP in confidentiality breach case
The rep claimed he never meant to harm the FSP, but the FST found his actions violated the FAIS Act and demonstrated a lack of integrity.
Exam fraud: FSCA urges financial firms to verify RE certificates
FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.
FSCA releases list of licensed crypto asset service providers
Not meeting the operational ability and competency requirements are the main reasons the Authority rejected licence applications.
FSP alleges rep not financially sound because he missed car repayments
The Financial Services Tribunal overturns the debarment because of insufficient evidence of misconduct and lack of financial soundness.
Costs order against FSCA for ‘irregular and unlawful’ debarment
The Authority should have conducted its own investigation and not relied solely on information provided by the insurer, the Tribunal says.
Tribunal upholds decision to debar F&I marketer for falsifying client’s signature
The rep said she corrected the errors herself to avoid inconveniencing the customer and embarrassing the company, not to commit fraud.
Tribunal sets aside WesBank’s debarment of financial and insurance marketer
The Financial Services Tribunal says the dispute is ‘one of the many cases where employers use labour disputes to debar FSP representatives’.
Financial professionals urged to reassess qualifications amid changing dynamics
MBSE alerts individuals who completed unit standards or credit-bearing programmes related to FETC: Short-term Insurance or FETC: Wealth Management to ensure ongoing Fit and Proper compliance.
Is your Fit and Proper status future-proof?
Have you completed unit standards or credit-bearing programmes towards the FETC: Short-term Insurance or the FETC: Wealth Management?
What you should know about the FAIS competence requirements
The first in a series of articles that explains the competence requirements for people who want to enter the financial services industry.
