The Role and Powers of the FAIS Ombud

By Donald Dinnie on February 22, 2022 Posted in Finance

This Supreme Court of Appeal judgment in The Ombud for Financial Services Providers and C S Brokers CC and Others [2021] ZASCA 117 is a reminder that section 20 of FAIS created the office of the Ombud as a mechanism for the speedy resolution of disputes which would otherwise be dealt with in court. A … Continue reading

Ombud must apply appropriate processes to disputes of fact

By Patrick Bracher (ZA) on December 3, 2021 Posted in General, Insurance

In November 2021 the Financial Services Tribunal emphasised that “time and again it has been pronounced that when there is a material dispute of fact, there should be a hearing of oral evidence”. It is only once the material disputes of fact are addressed that one can conduct an enquiry into the negligence, causation and … Continue reading

Failure to respond to complaint lodged against FSP

By Raynold Tlhavani (ZA) on May 11, 2016 Posted in General

The January 2016 determination of the Ombud for Financial Service Providers in Johannes William van Breda v Alesio Mogentale & Another is a good reminder of the powers of the Ombud where an FSP fails to respond to a complaint made against it. The complaint arose from a failed investment into a product known as … Continue reading