FSB declines more FAIS licence applications
The Financial Services Board (FSB) today announced that it has rejected the licence applications of a further seven financial services providers (FSPs).
The FSB has authorised about 9 700 licences in terms of the Financial Advisory and Intermediary Services (FAIS) Act, 2002, since October last year, and declined 17.
Gerry Anderson, the FSB's deputy executive officer of market conduct and consumer education, says FSPs whose applications are unsuccessful are entitled to appeal to the FSB Appeal Board, an independent tribunal, if the applicant is unhappy about the decision by the Registrar.
The seven unsuccessful applicants are Aero and General Insurance Brokers CC (FSP 17938), Albion Insurance Underwriters Brokers CC (FSP 438), Isambulo Investments (Pty) Ltd (FSP 13717), JNF Investments CC (FSP 12135), Kobus Karsten (FSP 18598), Luvhomba Financial Services CC (FSP 15274) and Ronald Desmond Cruse (FSP 3300).
