Financial Services Tribunal

In a December 2023 decision the Financial Services Tribunal upheld the debarment of the key individual of a fund of funds investment vehicle, Stringfellow Investments, on the grounds of his material failure to perform his oversight and management role in relation to the financial services provider as prescribed in the FAIS Act. A key individual

The FSCA has published a list of the members of the Financial Services Tribunal.  The Tribunal is headed by Chairperson Justice Y Mokgoro and led in the field of action by Deputy Chairperson Judge LTC Harms.

There are 21 other capable members most of whom are experienced advocates.

The Financial Services Tribunal has proved to

An October 2021 decision of the Financial Services Tribunal upholding an administrative order, a directive, and a penalty by the Prudential Authority is worth noting.  The Tribunal held there was no basis for successfully challenging the penalty for an intergroup loan arrangement not recorded in writing and for unjustified dividends paid.

A small licensed life

The facts in a Financial Services Tribunal debarment matter were that the financial services’ representative had certified certain documents as copies of the original without having seen the original documents.  She failed to ensure that she complied with the statutory requirements for certifying copies and the duties made mandatory upon her through her position as