Tribunal draws a hard line on undisclosed client benefits
The decision turned on the adviser’s acceptance of personal benefits from a client, the lack of proper compliance disclosure, and the higher standard expected of a KI.
FSP
Crypto payment-type activity may fall under FAIS, say regulators
Crypto assets fall outside the NPS Act, but intermediary-led payment-type activity involving crypto may still trigger a licensing requirement.
PAIA deadline opens as Regulator tightens oversight on information access
Missed submissions could trigger enforcement as the Regulator scrutinises how firms handle access to information requests.
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.
Appeal court leaves FAIS debarment ruling intact
The Full Bench finds that the information available to the FSP was sufficient to justify initiating the statutory debarment process.
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.
Equality Court: 2021 licence relief did not extend to FSPs
Ministerial Directives issued in July 2021 applied only to specified businesses under the Businesses Act, not to FAIS-regulated FSPs.
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.
Where theory meets practice: HCWM graduates turn learning into impact
Top achievers share how MBSE’s Higher Certificate in Wealth Management translates knowledge into real-world confidence.
Unauthorised policies falsely attributed to a junior accredited rep
The Tribunal confirms Assupol’s decision to debar a representative after forensic evidence showed he advised on life policies while unauthorised.
FST upholds debarment over ‘ghost caller’ policy
The evidence accumulated by Momentum supported its finding that the agent lacked honesty and integrity.
Policy breaches alone are not enough to justify debarment
The Tribunal said allegations of not following sales scripts may breach internal policy but do not in themselves demonstrate dishonesty or a lack of integrity.
Staying ahead of regulatory change: why ongoing training is non-negotiable
As regulatory enforcement escalates, MBSE’s specialised FICA, POPIA and NCA short courses provide financial professionals with the most practical way to stay compliant, avoid costly penalties, and build lasting client trust.
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 upholds strict timing for FSP debarments
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
Nessfin’s licence pulled amid fallout from MyWealth-linked entities
The FSCA has provisionally withdrawn Nessfin’s licence amid concerns over its ties to unauthorised entity MyWealth Legatus and potential breaches of financial sector laws.
Reappointment, not a stopwatch: Tribunal on FSP debarment durations
Unlike FSCA-imposed bans with fixed terms, debarments driven by an FSP stay in force until another FSP is convinced a rep is Fit and Proper.
