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FSB steadily reduces fsp licence applications

01 April 2006 FSB

Financial Services Board (FSB) deputy executive officer for Financial Advisory and Intermediary Services (FAIS) and Consumer Education, Gerry Anderson says despite receiving several new applications for licensing, the steady reduction of the number of applications in process, is continuing.

To date the FSB has finalised 13 260 applications for authorisation as financial services providers (FSP's).

In total, 662 of these applications have been declined. Previously, the FSB had reported that 611 applications had been declined. Three applications that had previously been declined, have been reversed namely:

1.FSP 25487 Zambesi Woonwaens CC, Montana, Pretoria, Gauteng;
2.FSP 25489 Mzileni and Associates CC, Richards Bay, Kwa Zulu Natal;
3.FSP 3563 Sisa William Giyose trading as SW Giyose Insurance, Butterworth, Eastern Cape.

The details of a further 54 applications representing declines are listed below:-

DECLINATIONS AND SUSPENSIONS
14 March 2006

FSP NO.

NAME DECLINE

231

Quyn Financial Services (Pty) Ltd Illovo, Gauteng Decline

2010

Esnap Insurance Brokers CC Sunnyside, Pretoria, Gauteng Decline

6292

Ramnathan Govindasamy Moodley Durban, Kwa Zulu Natal Decline

6702

Stephen Albert Powell trading as Stephen Powell Independent Broker Vereeninging, Gauteng Decline

8455

Shunmugam Govindasamy trading as SGP Insurance Brokers Springs, Gauteng Decline

8903

Nelspruit Auto Motors (Pty) Ltd trading as Nelspruit Auto Nelspruit, Mpumulanga Decline

9080

Hashim Salie trading as HS Accounting Claremont, Western Cape Decline

9126

Helen McGregor and Company (Pty) Ltd trading as JB's Nissan Malmesbury, Western Cape Decline

10549

Corrie Hattingh Motors CC Gezina, Pretoria, Gauteng Decline

10560

Inkoleko Trading 71 CC trading as Cars.Com Gezina, Pretoria, Gauteng Decline

10728

Soga and Sons Funeral Undertakers CC Cradock, Eastern Cape Decline

11874

Mouton and Mouton BK Faerie Glen, Pretoria, Gauteng Decline

12663

Big Two Funeral Homers Evaton, Gauteng Decline

13054

Primero Group Administrators Newlands, Pretoria, Gauteng Decline

13194

Belinda Dimitra Eve New Mondeor, Gauteng Decline

14506

Christopher Noel Woods Bedfordview, Gauteng Decline

14749

Intrasure Brokers (Pty) Ltd Lynnwood, Pretoria, Gauteng Decline

15537

Lindsay trading as Lindsay Saker Motors Krugersdorp Krugersdorp, Gauteng Decline

15861

Imperial Group (Pty) Ltd trading as Lindsay Saker Motors Stellenbosch Stellenbosch, Western Cape Decline

16247

Gregory Charles du Toit Florida, Gauteng Decline

16255

MJP Healthcare Consultants CC Benoni, Gauteng Decline

16283

Zenobia Trading 123 trading as H G Wealth Management Woodmead, Gauteng Decline

16351

Pietro Urbani trading as Know Risk Consulting Claremont, Western Cape Decline

16923

Martin Harry Jordaan Germiston, Gauteng Decline

17366

Pro Act Finansiele Dienste BK Newcastle, Kwa Zulu Natal Decline

17709

Lindsay Saker trading as Lindsay Saker Motors Fourways Fourways Crossing, Gauteng Decline

18152

Imperial Group (Pty) Ltd trading as Imperial Toyota City Jeppestown, Gauteng Decline

18163

James Wood trading as Imperial Motors Brackenfell Vredenburg, Western Cape Decline

18260

Cosmos Product Development Services (Pty) Ltd Silverton, Pretoria, Gauteng Decline

18776

Anna-Marie Raath trading as Doanel Financial Services Vereeninging, Gauteng Decline

18796

Rekathusa Funeral Undertakers CC Kuruman. (053), Northern Cape Decline

19255

Imperial Group (Pty) Ltd trading as Hyper Car Randburg, Gauteng Decline

20352

Allan Weber trading as AW Minerva CC Kempton Park, Gauteng Decline

21105

Marlene Murray Brackenfell, Western Cape Decline

21442

Oupa Johannes Thejoane trading as Johannes Thejoane Brokers Vereeninging, Gauteng Decline

22695

Stapelberg Familie Trust trading as Toscana Swellendam, Western Cape Decline

24043

Bel Aire Motors CC Johannesburg, Gauteng Decline

24096

Yasheen Engelbrecht trading as All Share Brokers Pietermaritzburg, Kwa Zulu Natal Decline

5734

Matthys Michiel Johannes Basson Silvertondale, Pretoria, Gauteng Decline

11802

Poonees Funeral Parlour CC Lenasia Gauteng Decline

19927

Hendrik Barnard van der Walt Strand, Western Cape Decline

6675

Anna Catherine Delport trading as AC Delport Makelaars Wierda Park, Pretoria, Gauteng Decline

14947

Falcon Internation Financial Services (Pty) Ltd Sandown, Gauteng Decline

16721

Matsobane Solomon Matshoga CC trading as Bashabi Funeral Services Rustenburg, North West Decline

13241

Expectra 8 (Pty) Ltd Claremont, Pretoria, Gauteng Decline

20171

Camelot Forex (Pty) Ltd Randburg, Gauteng Decline

22163

Van Hansen Motors BK Gezina, Pretoria, Gauteng Decline

23102

Vundisa Brokers and Estate Agent CC PO Kagiso, Gauteng Decline

7042

WIP Tresury Solutions trading as WTS Houghton, Gauteng Decline

7375

Jakobus Gorg Calitz trading as SAP Brokers Linton Grange, Eastern Cape Decline

10238

Trade Off 69 Pty Ltd trading as Trade Off 68 Pty Ltd Clanwilliam, (027), Western Cape Decline

25929

Confederate Healthcare Advisors Pty Ltd trading as Confederate Healthcare Advisors Pty Ltd Johannesburg, Gauteng Decline

25930

Springs Car Wholes Sales CC trading as Springs Car Wholes Sales CC Springs, Gauteng Decline

25931

Batho Batsho Bakopane (B3) (Pty) Ltd trading as Tlhokomelo Funeral Services Tafelkop, Mpumalanga (013) Decline

Anderson says: "The declining of the vast majority of the above applications can be attributed to their being incomplete and not meeting the minimum requirements for approval".

The FSB issues these media releases in the public interest to list the names of FSP's whose licence applications have been unsuccessful. This is the eleventh in the series and follows releases issued on 5 May, 27 May, 28 June, 26 July, 22 August, 28 September, 25 October, 1 December 2005, 26 January and 7 March 2006.

Anderson adds, "FSP's whose applications had been unsuccessful are entitled to appeal to the FSB Appeal Board, an independent tribunal, if the applicant is dissatisfied with the decision by the registrar".

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