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The FSCA welcomes the successful conviction of Ndlangisa Funeral Services for contravention of the Financial Advisory and Intermediary Services Act 37 of 2002

07 March 2019 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) would like to applaud the law enforcement agencies for securing a conviction of Ndlangisa Funeral Services. The erstwhile Financial Services Board (FSB), received information on 06 July 2017 that Ndlangisa Funeral Services (“Ndlangisa”) was rendering financial services and collecting premiums from unsuspecting clients.

FSCA warns the public to act with caution when dealing with Prestige Wealth Solutions

07 March 2019 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (“FSCA”) warns the public to act with caution when dealing with Prestige Solutions Financial Consultancy (Pty) Ltd t/a Prestige Wealth Solutions (“Prestige Wealth”). Prestige Wealth is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render any financial advice and intermediary services.

Pension Fund rapped for ignoring treating customers fairly rules

07 March 2019 | PFA - Pension Fund Adjudicator

Members of pension funds must be kept appropriately informed before, during and after entering into contracts, the Pension Funds Adjudicator has warned.

Agri... an industry solution towards losses made

07 March 2019 | SAIA - South African Insurance Association

More than 10 years ago, local insurers approached the South African Insurance Association (SAIA) to find an industry solution towards losses made on commercial agricultural businesses. Specifically in the domain of drought.

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Question

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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