FST draws the line between suspicion and proof in adviser’s debarment case
The decision examines why client complaints, cellphone records, and handwriting evidence failed to establish dishonesty on a balance of probabilities.
FST
Poor sales process alone does not justify debarment
The Tribunal held that procedural shortcomings must be distinguished from conduct showing a representative lacks honesty and integrity.
Internal record manipulation can justify debarment, Tribunal finds
Five related decisions involving former Pineapple reps illustrate how misconduct affecting internal operational records may engage the honesty and integrity requirements.
Retiring broker’s move to rival FSP was not dishonest, Tribunal finds
The source of an obligation does not determine whether disputed conduct amounts to genuine fit-and-proper misconduct.
FST sets aside pension ruling in dispute between SAIPA and former CEO
The decision clarifies when prior civil proceedings may prevent the Pension Funds Adjudicator from investigating a complaint over withheld benefits.
Tribunal clarifies test for qualification exemptions
The ruling explains why exemption applications require objective statutory grounds rather than pleas for indulgence.
Tribunal draws line between enforcement powers and personal redress
The decision highlights the distinction between punishing misconduct and compensating consumers who claim to have suffered losses.
Tribunal sets aside Sanlam debarment over procedural defects
The FSP could not prove key elements of the process, including proper notice of the proceedings, and the conduct of the hearing.
Bogdanov to challenge ruling upholding JSE sanctions
The FST dismisses former EOH director Anushka Bogdanov’s application for reconsideration of sanctions imposed over misrepresented qualifications.
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.
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.
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.
