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.
KI
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.
Key Individual cannot delegate accountability
In a recent Appeal Board case, the FSP appealed against the FSB’s decision to debar her for five years. One of the grounds she raised was that her secretary failed to inform her […]
