New CPD courses tackle crypto advice and real-world ombud lessons
MBSE launches two practical CPD programmes to help advisers meet crypto compliance requirements and learn from ombud rulings shaping the financial services industry.
Ombud
Ruling confirms consumers may go straight to court under the CPA
The judgment also reinforces that generic voetstoots clauses or poorly explained limited warranties cannot waive statutory rights under the CPA.
Execution of sales or of policyholder rights?
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
Execution of sales or of policyholder rights?
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
FAIS Ombud uncovers doubtful practice – Provider “misunderstands” its own policy wording
The Office of the FAIS Ombud often receives complaints related to alleged unfair rejection of claims. One of the latest deals with the calculation of a waiting period that may be imposed in […]
Banking Ombud reports increase in complexity of complaints – 2019 Annual Report
The Ombudsman for Banking Services (OBS) published its annual report, showing an increase in calls received, but a decrease in actual complaints registered. Although the statistics for 2019 demonstrate a decrease in complaints, […]
Long Term Ombud Annual Report – Guidance for industry and advisers on focus areas
“We received 11 915 written requests for assistance in 2019, which was an increase of 147 requests compared to the 11 768 in 2018,” Judge Ron McLaren, Ombudsman for Long-term Insurance notes in […]
FSRA – Amendment of notice of commencemen of Ombud Council
The commencement dates of certain provisions under the Financial Sector Regulation Act has recently amended and as a result published in a Government Gazette. Some of these include: ● Chapter 14 (sections 175 […]
FAIS Ombud Report – What are the emerging trends?
The Office of the FAIS Ombud (“OFO”) released its Annual Report for the year 2018/2019 last week, providing a review of its performance over this period. During the financial year the OFO received […]
Short- and long-term Ombud – One entry point for complaints from 2020
“As from January 1 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries,” BusinessLive reported yesterday. According to the article, the two […]
New FAIS Ombud appointed – Adv Nonku Tshombe replaces Mr Naresh Tulsie
The Office of the FAIS Ombud announced last week that Advocate Tshombe assumed the role of new Ombud for Financial Services Providers effective 1 November 2019. She takes over from the previous Ombud, Mr Naresh […]
FAIS Ombud introduces Share Call Number option
During March 2019, the Office of the FAIS Ombud established a Client Care Centre to enhance the customer experience. The objective of the establishment of the Client Care Centre was to give life […]
FAIS Ombud introduces Share Call Number option
During March 2019, the Office of the FAIS Ombud established a Client Care Centre to enhance the customer experience. The objective of the establishment of the Client Care Centre was to give life […]
Tribunal again rules against FAIS Ombud
Last Monday we published an article on the outcome of a FSCA Tribunal hearing with the following introduction: “The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard […]
Short Term Insurance Ombud – Insight into how it operates
Business Day TV’s “You & Your Money” recently interviewed Edite Teixeira-Mckinon, the Deputy Ombudsman for Short-Term Insurance. Teixeira-Mckinon joined Bryan Hirsch, personal financial planner and author, to discuss the operations of the Short-Term […]
Treating customers fairly – FSP shows commitment in recent Ombud settlement
“The Office of the FAIS Ombud is committed to resolving complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. In this vain, the […]
Long Term Ombud Annual Report – Reflection on the Ganas/Momentum case
The Momentum/Ganas case, which caused a public outcry in November last year, was one of the matters discussed in the Long Term Ombud’s Annual report. According to Ron McLaren, Long Term Ombud, there […]
