Deputy Pension Funds Adjudicator Naheem Essop shares how OPFA’s inquisitorial process works, the challenges funds face with internal dispute resolution, and what happens when complaints escalate or are deemed frivolous.
A nominee who receives a dependency allocation can still claim a share of any surplus death benefit according to the deceased’s nominations.
The Authority invites interested parties to participate in High Court proceedings that will decide whether it may impose penalties on foreign individuals without physically serving documents in South Africa.
The Tribunal says individuals who are subject to administrative action are entitled to fair processes that include the speedy finalisation of their matter
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
The FSP used an email address it obtained from a credit bureau, but the rep denied this address belonged to her.
The Financial Services Tribunal dismisses a reconsideration application by a former representative who claimed a client e-signed documents in person.
The agent repeatedly deviated from the approved product script. Previous warnings and documented missteps played a key role in the decision.
The case highlights that debarment is reserved for instances of clear, intentional breaches of integrity, not mere negligence.
The FSCA’s decision to investigate Anova Wealth and suspend its licence remains in effect after the Tribunal declined the FSP’s applications for reconsideration.
FSPs must ensure their representatives operate strictly within their authorised product categories and according to the client’s mandate.
The Tribunal finds the FSP skipped critical steps, including notifying the representative and giving her an opportunity to respond.
The decisions show that even thwarted attempts to breach confidentiality signal a critical lapse in integrity.
The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
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.
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
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