Proceedings before enforcement committee under Security Services Act apply civil standard of proof

12 October 2017Patrick Bracher, Norton Rose Fulbright
Patrick Bracher

Patrick Bracher

The appellants in Pather v Financial Services Board failed in the suggestion that claims against it of contravention of the Security Services Act 2004 should have been proved by the enforcement committee according to the criminal standard, namely beyond reasonable doubt. The court held that the civil standard applies and that the proceedings and penalty imposed are administrative in nature.

The appellants had published financial statements on the Stock Exchange News Services (SENS) which they knew or ought to have known were false.

They challenged the finding against them on the basis that it should have been proved beyond reasonable doubt that they had such knowledge. It was held that the civil standard applied and the facts had only to be proved on a balance of probabilities.

Because the proceedings and penalty are of an administrative nature, they may be reviewed in a court on grounds of unlawfulness, procedural unfairness or unreasonableness. The finding and penalty were upheld.

First published by: Financial Institutions Legal Snapshot

Quick Polls


It’s a New Year! Your predictions for 2018?


Same old same old
Definitely better than last year
It’s going to be good
Only time will tell
AE fanews magazine
FAnews November 2017 EditionGet the latest issue of FAnews

This month's headlines

Profiling - the name of the (new) game
Is this end of insurance warranties?
Cause this is thriller
Technology vs human: the ripple effect
Medical schemes’ average increases for 2018
Subscribe now