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.
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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
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