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Majority of complaints about withholding of contributions

19 January 2021 | PFA - Pension Fund Adjudicator

The majority of complaints received by the Office of the Pension Funds Adjudicator (OPFA) in the 2019/20 financial year related to non-payment of contributions by employers.

FSCA warns the public against TradeZA

19 January 2021 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) would like to warn members of the public to act with caution when dealing with TradeZA as it not an authorised financial services provider.

The FSCA completes investigation into Mirror Trading International (Pty) Ltd

19 January 2021 | Financial Sector Conduct Authority (FSCA) (was FSB)

The FSCA has finalised its investigation into Mirror Trading International (Pty) Ltd (MTI) and will share its report with the liquidators appointed by the Master of the High Court.

Brokers stumble at the usual hurdles

19 January 2021 | FAIS Ombudsman

A close assessment of the FAIS Ombud Annual Report 2019/20 confirms that segments of South Africa’s financial advice community have learned little over the years. The report, which contains background information on a handful of informal settlements and formal FAIS Ombud determinations, highlights contraventions of the Financial Advisory and Intermediary Services (FAIS) Act and its accompanying Codes that have been tripping up advisers since the Act was promulgated. These shortcomings assisted the Office of the FAIS Ombud in recovering R57.263 million on behalf of consumers during the year.

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The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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