Repeat offender hit with R1m fine and 15-year debarment
Mareo Nel resumed unauthorised forex trading despite signing an enforceable undertaking in 2021.
Mareo Nel resumed unauthorised forex trading despite signing an enforceable undertaking in 2021.
The Tribunal’s ruling highlights that following the correct process is as important as addressing misconduct in the financial services sector.
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
The Authority has agreed to reconsider the penalties it imposed on ‘Coenie’ Botha, the founder of Coin Based Innovation Global.
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
The FSCA levied a R100 000 penalty on Wenru, the financial services provider implicated in the case.
SASTUA says the former key individual issued policies under false pretences and submitted duplicate claims for the same items.
Commercial insurance agent who was debarred for diverting premiums to her bank account asks to be allowed to make a fresh start.
The representative’s conduct of completing contracts as new instead of replacements was not motivated by dishonesty, the FST says.
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
The FST finds that the FSP’s attempt to use debarment as a tool to resolve an employment dispute is a misuse of the FAIS Act’s provisions.
Decision set aside, although the FSP was correct in finding that the representative contravened the General Code of Conduct.
Tribunal highlights the distinction between the processes that fall under the Labour Relations Act and the FAIS Act.
Dismissed adviser says she helped her clients pay their premiums so they could keep their life cover while experiencing temporary financial challenges.
The suspension of Global & Local’s licence relates to its relationship with BHI Trust, the FSCA confirms.
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
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