
Tribunal affirms Ombud’s stance on credit life cover complaint
After the High Court remitted the matter, a new Tribunal panel deemed the challenge ‘frivolous and vexatious’.
After the High Court remitted the matter, a new Tribunal panel deemed the challenge ‘frivolous and vexatious’.
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
The FSP’s allegations that the representative violated the terms of the settlement and service agreements did constitute a material breach of the FAIS Act.
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
The Tribunal agrees with the Prudential Authority that Women Building our Africa failed to meet the registration conditions and governance benchmarks.
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.
The proposed CEO breached the Companies Act by allowing another company of which he was the sole shareholder to advance loans to him while it was insolvent.
The Tribunal confirmed Standard Bank’s decision to debar its representative for borrowing thousands of rands from his clients and failing to disclose his outside business activities.
The Tribunal finds the FSCA acted beyond its legal authority by imposing a three-year time limit on an exemption, reaffirming a key precedent on regulatory overreach.
A nominee who receives a dependency allocation can still claim a share of any surplus death benefit according to the deceased’s nominations.
The Tribunal says the Adjudicator should have addressed the fund’s reliance on two acknowledgements of debt stating different amounts.
The Tribunal says individuals who are subject to administrative action are entitled to fair processes that include the speedy finalisation of their matter
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.
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