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Date Contravention Respondents/defendants Outcome Copy of Order
2018-04-05Section 106(a) of CISCANovare Collective Investment Schemes​R30 000 Administrative Penalty​Copy of Order
2018-03-15Section 7 (1) of the Financial Advisory and Intermediary Services Act, 37 of 2002Dell Computer (Pty) LimitedR100 000 Administrative penaltyCopy of Order
2018-02-19Section 7 (1) of the Financial Advisory and Intermediary Services Act, 37 of 2002AEGIS OUTSOURCING (Pty) LimitedR250 000 Administrative PenaltyCopy of Order
2017-12-14Section 81 (1) of the Financial Markets Act, 19 of 2012Cargill RSA (Pty) LimitedR362 000 Administrative PenaltyCopy of Order
2017-12-07Section 4 (4)(a) of the Collective Investment Schemes Act, 45 of 2002.H4 Collective Investments (RF) (Pty) LimitedAdministrative Penalty R20 000 ​Copy of Order
2017-12-04Rule 5.1 (a)(i) of the Policyholder Protection Rules (Long-Term Insurance)Avbob Mutual Assurance SocietyAdministrative Penalty R100 000 Inclusive of costsCopy of Order
2017-10-23Section  80 (1) (a) read with 80 (3) (a) of the Financial Markets Act, 19 of 2012James George Witheridge Gubb​Administrative Penalty: R100 000Copy of Order
2017-10-23Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002Refinery 5 (Pty) LimitedAdministrative Penalty: R20 000Copy of Order
​2017-10-20​​Section 75 (prohibited trading practices) of the Securities Services Act, No. 36 of 2004​Hanno Van Dyk​Administrative Penalty: R750 000​Copy of Order​

2017-07-11

Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002Mzala & Company (Pty) LimitedAdministrative Penalty: R20 000Copy of Order
                                       2017-06-29Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002Nyadombo TendaiAdministrative Penalty: R40 000Copy of Order

 

2017-06-15

Rules 16.1(C)(ii)and(iii) of the Policyholder Protection Rules (Long-Term Insurance),2004, issued in terms of Section 62 of the Long-Term Insurance Act,No.52 of 1998.The Smart Life Insurance Company LTDAdministrative Penalty: R150 000Copy of Order

2017-06-08

Section 4 (4) (a) of the Collective Investment Schemes Act, 45 of 2002MET Collective Investments (RF) (Pty) LimitedR20 000 PenaltyCopy of Order
                                       2017-04-13Section 49 of the Long-Term Insurance Act No. 52. Of 1998 & Rules 16.1(c)(iii) and (v) of the Policyholder Protection Rules, 2004, issued in terms of Section 62 of the Long-Term Insurance Act, No. 52 of 1998Assupol Life LimitedAdministrative Penalty: R500 000Copy of Order
2017-04-10Section 65 of the Collective Investment Schemes Act,45 of 2002Iza Wealth (Pty) LimitedR50 000 Administrative PenaltyCopy of Order
2017-03-27Rule 74(a) of the Policyholder Protection Rules (Short Term Insurance), 2004 issued under the Short-Term Insurance Act, No. 53 of 1998New National Assurance Company LimitedAdministrative Penalty R100 000Copy of Order
2017-03-14Section 78 (1) (a) of of the Financial Markets Act, 19 of 2012Michiel Jakobus BronnAdministrative Penalty: R350 000 plus costsCopy of Order
2017-03-14Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002. ( The FAIS Act)David MelvillAdministrative Penalty: R10 000Copy of Order
2017-03-08Section 80(1) (a) of the Financial Markets Act 19 of 2012Robert FourieAdministrative penalty: R2 million together with the costs of the enquiryCopy of Order
2017-02-17Rule 16.1(c)(ii) and (iii) of the Policyholder Protection Rules (Long-term Insurance), 2004 issued in terms of section 62 of the Long-term Insurance Act, 52 of 1998Lombard Life LimitedAdministrative penalty: R150 000 inclusive of costsCopy of Order
2016-12-02Ruless 16.1(c)(ii), (iii) and (v) of the Policyholder Protection Rules (Long-term Insurance) 2004African Unity Life Limited
Administrative penalty:
R300 000 (inclusive of costs) payable within 7 days from date of order
Copy of Order
2016-10-25Section 80(1)(a) of the Financial Markets Act, 19 of 2002Johan Franck
Administrative Penalty
R1 000 000 inclusive of costs
​Copy of Order
2016-10-25Section 75 of the Securities Services Act, 36 of 2004
  1.  Lefika Securities Pty Ltd
  2. Tebogo Shakong
  3. Yolanda Rebecca  Biokanyo
Administrative penalty
1.     R500 000 payable by Lefika Securities Pty Ltd;
2.     R2 million payable by Tebogo Shakong;
3.     R2 million payable by Yolanda Rebecca Biokanyo;
alll the abovementioned penalties are inclusive of costs
​Copy of Order
2016-10-24Section 7(1) of the Short Term Insurance Act
  1. Pieter De Wet
  2. Samantha De Wet
Determination in the amount of:
  1. R75 000 in respect of the first respondent;
  2. R75 000 in respect of the second respondent and
  3. The third respondent was found to have not contravened.
Further it is ordered that the respondents pay the costs of the action.
​Copy of Order
2016-10-20 Section 3A of the General Code of Conduct​Regal Financial Services Pty LtdAdministrative Penalty R200 000 inclusive of costs ​Copy of Order
2016-10-20Section 3A of the General Code of ConductDiscovery Life Limited Administrative Penalty R2 500 000Copy of Order
2016-09-20Section 13(2)(a)of the Financial Advisory and Intermediary Services Act,37 of 2002Bayport Financial Services 2010 (Pty) LtdAdministrative Penalty R500 000Copy of Order
2016-09-15Section 4(4)(a) of the Collective Investment Schemes Act, 45 of 2002Sanlam Collective Investments (RF) (Pty) LimitedAdministrative Penalty R10 000 ​Copy of Order
2016-09-09Rule 15(a) and 15(b) of the Policyholder Protection Rules (Long-Term Insurance), 2004Lion of Africa Life Assurance Company LtdAdministrative Penalty R200 000 ​Copy of Order
2016-08-31
  1. Section 75(3) of the Securities Services Act, 36 of 2002
  2. Section 80(3) of the Financial Markets Act, 19 of 2007
Brian Richard GoldingDetermination in the amount of: R200 000 together with costs of the enquiry, including legal fees and the fees of the investigators of the Financial Services BoardCopy of Order
2016-08-31Section 78(1)(a) of the Financial Markets Act, 19 of 2012Vinayagam Kumarasamy MoodleyAdministrative Penalty R467 388Copy of Order
2016-08-17Section 8(2)(d) of the Short-Term Insurance Act, No.53 of 1998Airborne Insurance Consultants (Pty) LtdAdministrative Penalty R150 000Copy of Order
2016-06-14Section 80 (1) (b) of the Financial Markets Act, 19 of 2012Wolfgang Helmut ReineckeAdministrative Penalty R25 000Copy of Order
2016-05-24
  1. Section 78(1)(a) of the Financial Markets Act, 19 of 2012
  2. Section 78(5) of the Financial Markets Act, 19 of 2012 
Bernard Melvin Johnson
Administrative Penalty
R850 000 to be paid on or before 31 July 2016
​Copy of Order
2016-05-11Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002. ( The FAIS Act)Joseph Marcus DoubellAdministrative Penalty R50 000Copy of Order
2016-05-09 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002. ( The FAIS Act)KB Cash Loans CC & PC Brand Administration Penalty R50 000Copy of Order
2016-04-01Section 75(1) of the Securities Services Act, 36 of 2004Anthony van MarkenAdministrative Penalty R500 000 to be paid within 90 (ninety) days from date agreement was made an order.Copy of Order
2016-03-18​
  1. Section 7(1) of the Long-Term Insurance Act, 52 of 1998
  2. Section 8(3) of the Long-term Insurance Act, 52 of 1998
Abangcwabi Myendeki Funeral Parlour CC​ Determination:
R2 million, further it is ordered that the respondent pay the costs of the proceedings, including of all legal fees and disbursements​
Copy of Order
2016-04-13Section 5(1) of the Collective Investment Schemes Act, 45 of 2002Magnum Opus Investment Managers (Pty) LimitedAdministrative Penalty R50 000Copy of Order
2016-03-04Section 13B (1) of the Pension Funds Act, No. 24 of 1956Salt Employee Benefits (Pty) LtdAdministrative Penalty R20 000Copy of Order
2016-01-26Section 7(1) of the Short-term Insurance Act, 53 of 1998Defensive Legal Protection CC (in liquidation)Administrative Penalty R100 000, payable on or before 31 January 2016, inclusive of costCopy of Order
2016-01-18Section 65 of the Collective Investment Schemes Act, 45 of 2002 (CISCA)Pegasus Wealth Management (Pty) LimitedAdministrative Penalty R50 000, no cost order​Copy of Order
​​2015-11-26Section 80(1)(a) of the Financial Markets Act, 19 of 2012Friedland, Warren
Administrative penalty

R10 000, inclusive of costs

​Copy of Order
2015-11-26Section 80(1)(b) of the Financial Markets Act, 19 of 2012Cokayne, Trevor ClydeAdministrative penalty R10 000 payable on or before 30 November 2015, inclusive of costCopy of Order
2015-11-05Section 75 of the Securities Services Act, 36 of 2004
  1. De Beer Jacobus Frederik
  2. Verster, Johannes Jacobus
  3. Weetman, Mark Howard
  4. Pretorius, Timotheus

Administrative Penalty

  1. De Beer Jacobus Frederik – R10 million
  2. Verster, Johannes Jacobus – R3 million
  3. Weetman, Mark Howard – R1 million
  4. Pretorius, Timotheus – R1 million

The Respondents are ordered jointly and severally, the one paying, the other to be absolved, to pay the all costs pertaining to this enquiry 

Copy of Order
2015-11-05Section 44 of the Short-term Insurance Act, 53 of 1998Discovery Insure Limited

Administrative Penalty R100 000,

no cost order

Copy of Order
2015-10-27
  1. Section 7(3) of the Financial Advisory and Intermediary Services Act, 37 of 2002; and
  2. Sections 2 and 8 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003
Rowe Hooper Insurance and Investment Brokers CC

Administrative Penalty R150 000,

no cost order

​Copy of Order
2015-10-22 Section 21(1)(a) and Section 21(2)(a) of the Financial Intelligence Act, No 38 of 2001​Thebe Stockbroking Pty Limited Administrative penalty R500 000,  inclusive of costs ​Copy of Order
2015-09-16Section 7 (1) of the Long -Term Insuran​ce Act, No 52 of 1998Mpiti’s Funeral Services CC and 1 OtherAdministrative Penalty R200 000, to be paid jointly by the Respondents on or before 30 October 2015, inclusive of costsCopy of Order
2015-07-29Section 7 (1) of Long-Term Insurance Act, No 52 of 1998 and Section 7 (1) of the Financial Advisory and Intermediary Services Act, No 37 of 2001Mhlangaveza Family Assurance (Pty) Ltd and 2 OthersAdministrative penalty R200 000, payable on or before 31 August 2015, interest charged at 9% per annum calculated from date of the order until final paymentCopy of Order
2015-07-22Section 76 (1) (a) and (b) of the Securities Services Act, No 36 of 2004Grant Chittenden Administrative penalty R300 000, no cost order ​Copy of Order
2015-06-24Rule 16.1. (c) (iii) of the Policyholders Protection Rules issued under Long – Term Insurance Act, 52 of 1998Clientele Life Assurance Company LimitedAdministrative Penalty R100 000, no cost order​Copy of Order
2015-06-19Section 6A (1) (a) of the Financial Institutions (Protection of Funds) Act, 28 of 2001 (the “Financial Institutions Act”)Michael Thatayaone Podile

Administrative Penalty R1 000 000 , the Respondent is ordered to pay the cost of the application together with interest on the amount of R1 000 000 at the prescribed rate in Terms of Section 1 (2) of the Prescribed Rate  of 

Interest Act, 55 of 1976 

​Copy of Order
2015-05-22Section 7(3) of the Financial Advisory and Intermediary Services Act, 37 of 2002Nestlife Assurance Corporation Ltd Administrative penalty R100 000, to be paid on or before 1 June 2015 and further an amount of R21 350 plus interest at the rate of 9% per annum from date of order until final payment Copy of Order
201​5-02-27Section 45 of the Short-Term Insurance Act, No 53 of 1998 (STI Act), read with Regulation 4.1(1) of the Regulations under STI Act
Saxum Insura​nce LimitedAdministrative penalty R200 000
Copy of Order
2015-02-26Section 7 (3) of the Financial Advisory and Intermediary Services Act, 37 of 2002 and Section 2 of the General Code of Conduct for Authorized Financial Services Providers and Representatives, 2003
Gous JacobusAdministrative penalty R200 000
Copy of Order
2015-01-27Section 2 of the General Code of Conduct for Authorized Financial Services Providers and Representatives, 2003 issued in terms of section 15 of the Financial Advisory and Intermediary Services Act, 37 of 2002
Talksure Trading (Pty) LimitedAdministrative penalty R250 000
Copy of Order
2014-12-12Section 80 (1) (a) of the Financial Markets Act, No 19 of 2012
Charles Edward Errol ForsdickAdministrative penalty R50 000
Copy of Order
2014-10-15Section 78 of the Financial Markets Act, Act 19 of 2012
Deetlefs, DavidAdministrative penalty R14 152
Costs R15 000
Copy of Order
2014-10-081. Section 76 of the Securities Services Act, No 36 of 2004
Blue Financial Services LimitedAdministrative penalty
R500 000
Copy of Order
2014-10-021. Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 (“FAIS Act”); and
2. Section 2 of the General Code of Conduct for Authorised Financial Services Providers and Representatives published in Board Notice 80 of 2003 in Government Gazette 25299 of 8 August 2003 in terms of section 15 of the FAIS Act.
Mey, CliffordAdministrative penalty
R800 000
Copy of Order
2014-10-02Section 75(1) of the Securities Services Act, No 36 of 2004
Sweeney, David MartinAdministrative penalty
R1 000 000
Copy of Order
2014-09-04Section 73 of the Securities Services Act, No 36 of 2004
Theba, Yaseen AAdministrative penalty
R60 000
Copy of Order
2014-08-051. Section 73(2)(a) of the Securities Services Act, No 36 of 2004 (SSA) in respect of Mr Zietsman
2. Section 73(1)(a) of the SSA in respect of Harrison & White
Zietsman, Gavin Lyonel and Harrison & White Investments (Pty) LimitedAdministrative penalty
R1 000 000, to be paid jointly and severally by the respondents
Copy of Order
2014-08-01Section 7(1) of the Long-Term Insurance Act, No 52 of 1998
Molo Funeral Services CCAdministrative penalty R200 000
Costs R71 230
Copy of Order
2014-07-311. Section 45 of the Short-Term Insurance Act, No 53 of 1998 (STI Act), read with Regulation 4.1(1) of the Regulations under STI Act
2. Regulation 4.3(3) of the Regulations under STI Act
3. Rule 7.4(c)(iv) read with subsections (g) and (h) of the Policyholders Protection Rules.
Saxum Insurance LimitedAdministrative penalty R75 000
Copy of Order
2014-05-28Section 81 of the Financial Markets Act, No 19 of 2012
Comair LimitedAdministrative penalty R70 000
Costs R30 000
Copy of Order
2014-05-06Section 7(1) of the Long-Term Insurance Act, No 52 of 1998
Thuso Burial Scheme CCAdministrative penalty R100 000 Copy of Order
2014-04-17Section 75 of the Securities Services Act, No 36 of 2004
Dvoulety, JaroslavAdministrative penalty R50 000 Copy of Order
2014-04-10Sections 43(1)(a) and 73(3) of the Collective Investment Schemes Control Act, No 45 of 2002, and Notice 910 of 210
Indequity Investments Managers LimitedAdministrative penalty R50 000
Costs R22 000
Copy of Order
2014-04-10Section 8(2)(d) of the Short-Term Insurance Act, No 53 of 1998
Airborne Insurance Consultants (Pty) LimitedAdministrative penalty R100 000 Copy of Order
2014-02-27Section 75(1) of the Securities Services Act, No 36 of 2004
Murray, Christopher JohnAdministrative Penalty R750 000 Copy of Order
2014-01-29Section 3 (3) of the General Code of Conduct For Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002
Dominium Consulting (Pty) LimitedAdministrative Penalty R50 000 Copy of Order
2014-01-24Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998
My Lawyer Legal Assistance (Pty) LimitedAdministrative Penalty R200 000 Copy of Order
2013-12-13Section 73(4) of the Securities Services Act, No 36 of 2004
Lovell, JustinAdministrative Penalty R10 080 Copy of Order
2013-12-11Section 75(1) of the Securities Services Act, No 36 of 2004
Reed, DouglasAdministrative Penalty R2 000 000 (inclusive of costs) Copy of Order
2013-12-11Section 75(1) of the Securities Services Act, No 36 of 2004
Van Tonder, Jacobus MichielAdministrative Penalty R1 000 000 Copy of Order
2013-12-09Section 65(3) of the Collective Investment Schemes Control Act, No 45 of 2002
Andre Cillie Capital Management (Pty) LimitedAdministrative Penalty R10 000
Costs R114 000
Copy of Order
2013-11-26Section 49 of the Long-Term Insurance Act, No 52 of 1998, read with Regulation 3.4 of the Regulations under the Long-Term Insurance Act.
Channel Life LimitedAdministrative Penalty R1 000 000 Copy of Order
2013-11-26Section 49 of the Long-Term Insurance Act, No 52 of 1998, read with Regulation 3.4 of the Regulations under the Long-Term Insurance Act.
Sanlam Developing Markets LimitedAdministrative Penalty R2 000 000 Copy of Order
2013-11-26Section 76 of the Securities Services Act, No 36 of 2004
Wesizwe Platinum LimitedAdministrative Penalty R65 000 Copy of Order
2013-09-30Section 8(3) of the Long-Term Insurance Act, No 52 of 1998
Doves Group (Pty) LimitedAdministrative penalty R100 000
Costs R50 000
Copy of Order
2013-07-22Section 3(3) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Insurance Underwriting
Managers (Pty) Limited
Administrative penalty R50 000 Copy of Order
2013-07-151. Section 13(2)(a) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 (“FAIS Act”); and
2. Section 12(c) of the General Code of Conduct for Authorised Financial Services Providers and Representatives published in Board Notice 80 of 2003 in Government Gazette 25299 of 8 August 2003 in terms of section 15 of the FAIS Act.
Finstate CCAdministrative penalty R40 000
Copy of Order
2013-07-011. Directive 156.A.i. (ST) read with Section 4(2) of the Short Term Insurance Act, No 53 of 1998 (“STIA”);
2. Section 45 of the STIA read with Regulations 4.1(1) and 4.1.(2) for the period November 2008 until 31 March 2013;
3. Paragraph 5 of Part II of Schedule 2 of the STIA (for the period December 2008 to 27 February 2010);
4. Paragraph 4.1 of Board Notice 27 of 2010 (BN) under the STIA (for the period 28 February 2010 to 31 December 2011);
5. Paragraph 4.1 of BN 169 of 2011 under the STIA (for the period 1 January 2012 to 2 October 2012)
Santam LimitedAdministrative penalty R200 000 Copy of Order
2013-06-29Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998The Lawyers Voice (Pty) LimitedAdministrative penalty R600 000 Copy of Order
2013-05-09Sections 3A(1)(b)(i) and 15(1) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Hippo Comparative Services (Pty) LimitedAdministrative penalty
R1 500 000
Copy of Order
2013-04-23Contravention of sections 3A(2)(a) and 11of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003 and section 8(3)(j) of the Determination of Fit and Proper Requirements for Financial Services Providers, 2008.Martindale Securities And Investments (Pty) LtdAdministrative penalty R20 000 Copy of Order
2013-03-27Section 26(1) of the Long-Term Insurance Act, No 52 of 1998PSG Asset Management Holdings (Pty) LimitedAdministrative penalty R250 000 Copy of Order
2013-03-19Regulation 3(b) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002EQ.FIN (Pty) LimitedAdministrative penalty R150 000 Copy of Order
2013-02-18Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998Netcover (Pty) LimitedAdministrative penalty R50 000 Copy of Order
2013-02-12Section 45 of the Short-Term Insurance Act, No 53 of 1998Unitrans Insurance LimitedAdministrative penalty R200 000 Copy of Order
2013-02-08Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Cucamla Finansiële Dienste CCAdministrative penalty R100 000 Copy of Order
2013-01-22Section 73 of the Securities Services Act, No 36 of 2004Handelsman, Kevin Guy Administrative penalty R68 460 Copy of Order
2013-01-07Section 73 of the Securities Services Act, No 36 of 2004Ralston, Michael TrevorAdministrative penalty R40 000 Copy of Order
2012-12-05Regulation 3(b) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Viljoen, Phillipus Christoffel and Intelinet Networking Solutions (Pty) LimitedAdministrative penalty R30 000
Copy of Order
2012-11-13Sections 13(3) and 17(1)(a) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 (“FAIS Act”); and sections 2 and 11 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the FAIS ActMatthys Johannes Marais t/a Protea MakelaarsAdministrative penalty R150 000 Copy of Order
2012-11-12Section 11 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Moremodiegisa Financial Services and Projects CC and Setlhare, Samuel MohaleAdministrative penalty R20 000
Copy of Order
2012-11-12Section 73 of the Securities Services Act, No 36 of 2004Collins, Johan KlueAdministrative penalty R31 500 Copy of Order
2012-11-061. Sections 2; 3; 14(1)(a) and (b)(i), (ii) and (iii); and 15(2)(a) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003 (“the Code”), issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002 (“FAIS Act”);
2. Section 13(2)(b) of the FAIS Act;
3. Section 21(1) of the Financial Intelligence Centre Act, No 38 of 2001.
Catsicadellis, George
Botha (now Greyvenstein), Monica
Administrative penalty R3 million
Administrative penalty R1 million
Copy of Determination
2012-11-06Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Fedgroup Employee Benefits (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2012-10-26Section 5.1(a)(i) of the Policyholder Protection Rules, 2004, promulgated under section 62 of the Long-Term Insurance Act, No 52 of 1998Channel Life LimitedAdministrative penalty R100 000 Copy of Order
2012-10-11Section 2 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Labuschagne, PieterAdministrative penalty R150 000 Copy of Order
2012-10-04Section 44 of the Short-Term Insurance Act, No 53 of 1998Discovery Insure LimitedAdministrative penalty R50 000 Copy of Order
2012-08-31Section 75 of the Securities Services Act, No 36 of 2004Hendricks, Nazeem Mohlaba, Chuene JamesAdministrative penalty R5 million per respondent Copy of Order
2012-08-31Section 13B(1) of the Pension Funds Act, No 24 of 1956, read with conditions 7.2 and 7.3 as determined in Board Notice 24 of 2002Scientia Actuaries and Consultants (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2012-08-31Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Southern Africa Quantum Employee Benefits (Pty) LimitedAdministrative penalty R100 000 Copy of Order
2012-07-10Sections 8(1)(d)(i), 8(1)(d)(ii), and 3(1)(c)(i)(bb) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, prescribed in terms of section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Counterpoint Trading 328 CC t/a Policy ProviderAdministrative penalty R50 000 Copy of Order
2012-07-10Sections 8(1)(d)(i), 8(1)(d)(ii), and 3(1)(c)(i)(bb) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, prescribed in terms of section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Fusion Properties 268 CC t/a Broker’s ChoiceAdministrative penalty R50 000 Copy of Order
2012-06-15Section 7(1) of the Long-Term Insurance Act, No 52 of 1998Chamane, Thandeka Prudence t/a Isiphiwo Funeral Services CCAdministrative penalty R50 000 Copy of Order
2012-05-31Section 2 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Prosperity Group (Pty) LimitedAdministrative penalty R50 000 Copy of Order
2012-05-30Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002, and section 45 of the Long-Term Insurance Act, No 52 of 1998Prospercare Benefit Solutions (Pty) LimitedAdministrative penalty R80 000 Copy of Order
2012-05-28Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Gidimag CCAdministrative penalty R10 000 Copy of Order
2012-05-24Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002McFarquhar, Roderick CharlesAdministrative penalty R10 000 Copy of Order
2012-05-21Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Ness Consulting Services (Pty) LimitedAdministrative penalty R100 000 Copy of Order
2012-05-14Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Phakane, Clement Karabo Administrative penalty R25 000 Copy of Order
2012-04-12Sections 5.1(g) and 5.3 of the Code of Conduct for Discretionary FSP’sABSA Asset Management (Pty) Limited.Administrative penalty R10 000 Copy of Order
2012-04-10Rules 5.1(a)(i) and 9 of the Policyholder Protection Rules, promulgated in terms of section 62 of the Long-Term Insurance Act, No 52 of 1998, and section 48 of the Long-Term Insurance Act.Regent Life Assurance Company LimitedAdministrative penalty R100 000 Copy of Order
2012-03-29Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Capital Alliance Life LimitedAdministrative penalty R100 000
Copy of Order
2012-03-27Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002W A Davidson CCAdministrative penalty R10 000 Copy of Order
2012-03-23Section 9(5)(c) of Board Notice 106 of 2008ABSA Investment Management Services (Pty) LimitedAdministrative penalty R100 000 Copy of Order
2012-03-22Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Lombard Life LimitedAdministrative penalty R100 000
Copy of Order
2012-03-22Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Financial Management International LimitedAdministrative penalty R75 000 Copy of Order
2012-02-21Section 7.(2) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Allcover CCAdministrative penalty R10 000 Copy of Order
2012-02-14Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002No Doubt Trading CC
Administrative penalty R25 000 Copy of Order
2012-02-14Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Autumn Equities CCAdministrative penalty R25 000 Copy of Order
2012-02-10Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Verso Multi Manager (Pty) LimitedAdministrative penalty R32 204 Copy of Order
2012-02-02Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002So Where To Fashion And Projects CCAdministrative penalty R25 000 Copy of Order
2012-01-12Section 75 of the Securities Services Act (market manipulation)Moosa, Mahomed ZubeirAdministrative penalty R4 000 000 Copy of Order
2012-01-09Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Paul Venter, Robert McLaren BehrensAdministrative penalty R100 000 Copy of Order
2011-12-15Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Standard Bank Insurance Brokers (Pty) LimitedAdministrative penalty R50 000
Copy of Order
2011-12-06Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Old Mutual Trust LimitedAdministrative penalty R27 500 Copy of Order
2011-11-22Section 13B(1) of the Pension Funds Act, No 24 of 1956Qmulate (Pty) Limited trading as Mianzo Asset ManagementAdministrative penalty R10 350 Copy of Order
2011-11-17Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Maxim Employee Benefits (Pty) LimitedAdministrative penalty R14 230 Copy of Order
2011-10-26Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Sanlam Developing Markets LimitedAdministrative penalty R100 000 Copy of Order
2011-10-26Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Safrican Insurance Company LimitedAdministrative penalty R60 000 Copy of Order
2011-10-21Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002EMQ Training Solutions CCAdministrative penalty R25 000
Copy of Order
2011-10-20Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Jamjam, Mrs ZimkhitaAdministrative penalty R25 000 Copy of Order
2011-10-19Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Grant Thornton Capital (Pty) LimitedAdministrative penalty R23 756 Copy of Order
2011-10-17Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002RF Administrators (Pty) LimitedAdministrative penalty R22 299 Copy of Order
2011-10-13Section 3(a) of the Financial Advisory Services Regulations, 2003, prescribed in terms of section 35 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Trading Point Academy (Pty) LimitedAdministrative penalty R25 000 Copy of order
2011-10-13Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002LifeSense Financial Services Administration (Pty) LimitedAdministrative penalty R10 000 Copy of order
2011-10-13Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Prescient Investment Management (Pty) LimitedAdministrative penalty R19 300 Copy of order
2011-10-13Section 7(1) of the Long-Term Insurance Act, 52 of 1998GFS Investments CC t/a Gauteng Funeral ServicesAdministrative penalty R50 000 Copy of order
2011-10-03Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Vic Glassock and Associates CCAdministrative penalty R15 048 Copy of Order
2011-09-29Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with conditions 7.2 and 7.3 as determined in Board Notice 24 of 2002ABSA Investment Management Services (Pty) LimitedAdministrative penalty R170 720 Copy of order
2011-09-26Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Blue Ink Institutional Investments (Pty) LimitedAdministrative penalty R42 166 Copy of order
2011-09-22Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Citadel Administration Services (Pty) LimitedAdministrative penalty R30 263 Copy of order
2011-09-22Section 8(1) of Board Notice 127 of 2010 issued in terms of section 17(1)(b) and (2)(a) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Intelligent Compliance and Education (Pty) LimitedAdministrative penalty R50 000 Copy of order
2011-09-19Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Southern Africa Quantum Employee Benefits (Pty) LimitedAdministrative penalty R18 693 Copy of order
2011-09-16Section 3A(1)(a) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002JDDN Consulting Services (Pty) Limited t/a Discovery Consulting Services LimpopoAdministrative penalty R80 000 Copy of order
2011-09-15Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Fin-U-Med Corporate (Pty) Limited t/a Sport SolutionsAdministrative penalty R100 000 Copy of order
2011-09-15Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with conditions 7.2 and 7.3 as determined in Board Notice 24 of 2002Lereko Metier Capital Growth Fund Managers (Pty) LimitedAdministrative penalty R70 000 Copy of order
2011-09-15Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Sanlam Trust LimitedAdministrative penalty R36 585 Copy of order
2011-09-13Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Hermes Asset Management (Pty) LimitedAdministrative penalty R10 000 Copy of order
2011-09-13Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Ultimate Fund Administrators (Pty) LimitedAdministrative penalty R10 000 Copy of order
2011-09-13Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002Foord Asset Management (Pty) LimitedAdministrative penalty R10 000 Copy of order
2011-09-06Section 13B(1) of the Pension Funds Act, No 24 of 1956TDF Fund Administrators (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2011-09-06Section 2 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, issued under section 15 of the Financial Advisory and Intermediary Services Act, No 37 of 2002Lombard, FriedrichAdministrative penalty R50 000
Copy of Order
2011-09-06Section 13B(1) of the Pension Funds Act, No 24 of 1956Fussel and Associates Employee Benefits (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2011-09-06Section 13(1)(b)(i) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Clientèle General Insurance Company LimitedAdministrative penalty R100 000
Copy of Order
2011-08-15Section 7(3) and 8(1)(a) of the Financial Advisory and Intermediary Services Act, No 37 of 2002, read with section 2(1) of the Determination of Fit and Proper Requirements For Financial Services ProvidersPJD Financial Capital CCAdministrative penalty R50 000 Copy of Order
2011-07-27Section 13B(1) of the Pension Funds Act, No 24 of 1956, read with condition 7.3 as determined in Board Notice 24 of 2002Aon South Africa (Pty) LtdAdministrative penalty R300 000 Copy of order
2011-07-27Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Collective Insurance Brokers (Pty)LtdAdministrative penalty R20 000 Copy of order
2011-07-27Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Smartcall Insurance Administrators (Pty) LtdAdministrative penalty R50 000 Copy of order
2011-07-27Section 75 of the Securities Services Act (market manipulation)Fabian, Arie PaulAdministrative penalty R250 000 Copy of order
2011-07-27Section 7(1) and 13(1)(b) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Gertel Algemene Handelaars cc t/a Multi BrokersAdministrative penalty R45 000
Copy of order
2011-07-27Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Eagle Watch Financial Services Providers (Pty) LtdAdministrative penalty R50 000 Copy of order
2011-07-18Section 13B(1) of the Pension Funds Act, No 24 of 1956, read with conditions 7.2 and 7.3 as determined in Board Notice 24 of 2002Retirement Fund Solutions Holdings (Pty) LimitedAdministrative penalty R7 500 Copy of Order
2011-07-13Section 13 of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003, read with section 3(1) of Board Notice 123 of 2009Premier Growth (Pty) Limited t/a The UnlimitedAdministrative penalty R10 000 Copy of Order
2011-07-07Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002African Unity Insurance LimitedAdministrative penalty R100 000 Copy of Order
2011-07-04Section 45 of the Short-Term Insurance Act, No 53 of 1998, read with regulations 4.1 and 4.2 of the ActThe Hollard Insurance Company LimitedAdministrative penalty R70 000 Copy of Order
2011-06-30Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Gingirikani Marketing CC t/a Ditiro Group Funeral AdministratorsAdministrative penalty R40 000 Copy of Order
2011-06-30Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Nothemba Funeral and Financial Services CC t/a Nothemba Funeral ServicesAdministrative penalty R20 000 Copy of Order
2011-06-30Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Nestlife Assurance Corporation LimitedAdministrative penalty R100 000 Copy of Order
2011-06-22Section 13B(1) of the Pension Funds Act, No 24 of 1956mCubed Employee Benefits (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2011-06-22Section 4(3)(b) and 8(1)(a) of the Short-Term Insurance Act, No 53 of 2001CIB Insurance Solutions (Pty) LimitedAdministrative penalty R150 000 Copy of Order
2011-05-11Section 7(1) of the Long-Term Insurance Act, No 52 of 1998Mahuhuli Funeral Services CC and Mrs M A MolaiAdministrative penalty R15 000 Copy of Order
2011-05-11Section 4(3)(b) of the Short-Term Insurance Act, No 53 of 2001 African Eagle Financial Services (Pty) LimitedAdministrative penalty R25 000 Copy of Order
2011-05-11Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Siphiwo Financial and Management Consultants (Pty) LimitedAdministrative penalty R10 000 Copy of Order
2011-04-01Section 73 of the Securities Services Act (insider trading) and Section 76 of the Securities Services Act (false reporting)Mr N van der Merwe
Mr J Pieterse
Administrative penalty R2 000 000 Second respondent Transcript of Determination (2011-04-01)
Administrative penalty R1 000 000 First Respondent Transcript of Determination (2010-06-01)
2011-03-28Section 13B(1) of the Pension Funds Act, No 24 of 1956Colourfield Liability Solutions (Pty) LimitedAdministrative penalty R158 455
Copy of Order
2011-03-28Section 13B(1) of the Pension Funds Act, No 24 of 1956Pan African Asset Management (Pty) LimitedAdministrative penalty R30 888 Copy of Order
2011-01-19Section 73 of the Securities Services Act (insider trading)Mr G L van NiekerkAdministrative penalty R16 000 Copy of Order
2010-09-17Section 7(1) of the Long-Term Insurance Act, No 52 of 1998 Mntungwa Funeral Services CC and
Mrs S Mntungwa
Administrative penalty R50 000 on each respondent Copy of Order
2010-06-30Section 75 of the Securities Services Act (market manipulation) Mr T PretoriusAdministrative penalty R2 000 000 Transcript of Determination
2010-06-01Section 73 of the Securities Services Act (insider trading)Mr J Pieterse (1st Resp)
Mr N van der Merwe (2nd Resp)
Administrative penalty R1 000 000 First respondent Transcript of Determination
2010-03-15Section 73 of the Securities Services Act (insider trading)Mr A D Cheminais
Mr M J I Brown and
Mr R McGregor
Administrative penalty R75 624 First respondent
Acquittal Second respondent
Administrative penalty R50 000 Third respondent
Transcript of Determination
2010-01-21Section 7(1) read with section 13(1)(b)(i) of the Financial Advisory and Intermediary Services Act, No 37 of 2002Mr L C BuchnerAdministrative penalty R40 000 Copy of Order
2009-12-10Section 43(1)(a) of the Collective Investment Schemes Control Act, No 45 of 2002Community Growth Management Company LimitedAdministrative penalty R20 000 Copy of Order
2009-12-10Section 8(1)(b) of the Short-Term Insurance Act, No 53 of 1998MiWay Finance (Pty) LimitedAdministrative penalty R300 000 Copy of Order
2009-12-02Section 88(1) of the Collective Investment Schemes Control Act, No 45 of 2002 (the Act), read with Notice 2072 of 2003, issued in terms of section 88(1) of the Act.NewFunds (Pty) LimitedAdministrative penalty R20 000 Copy of Order
2009-11-30Paragraph 3(4)(a) of notice 1503, issued in terms of section 40, 46, and 85 of the Collective Investment Schemes Control Act, No 45 of 2002 (the Act), read with notice 2072 of 2003, issued in terms of section 88(1) of the act. Coris Capital Collective
Investment Managers Limited
Administrative penalty R10 000 Copy of Order
2009-10-21Section 73 of the Securities Services Act (Insider Trading)Mr M MeyerAdministrative penalty
R150 000
Transcript of Determination
2009-09-29Section 76 of the Securities Services Act (false reporting)Labat Africa Limited and Mr B G van RooyenAdministrative penalties R25 000 per respondent Transcript of Determinations
2009-09-22Section 73 of the Securities Services Act (insider trading)Mr G PietersenAdministrative penalty R94 500
Copy of Order
2009-09-22Section 75 of the Securities Services Act (market manipulation) and Section 76 of the Securities Services Act (false reporting)Mr N L HittlerAdministrative penalty R1 000 000 (for section 75) R10 000 (for section 76)
Transcript of Determination
2009-07-16
2009-09-07
Section 76 of the Securities Services Act (false reporting)Mr M Pather
AH-Vest Limited (previously known as All Joy Foods Limited)  
Administrative penalties R1,5 million per respondent   Transcript of Determination
2009-07-16Section 76 of the Securities Services Act (false reporting)Stratcorp LimitedAdministrative penalty R50 000 Copy of Order
2009-07-16Section 73 of the Securities Services Act (insider trading)Mr G D de JagerAdministrative penalty
R587 511
Copy of Order
2008-11-27Section 76 of the Securities Services Act (false reporting)Mr D Marais and
Mr B Meyer
Administrative penalties R100 000 per respondent Copy of Order
2008-11-27Section 73 of the Securities Services Act (insider trading)Mr C G ChelinAdministrative penalty
R94 500
Copy of Order
2008-11-27Section 75 of the Securities Services Act (market manipulation)Mrs K Cull
Administrative penalty
R25 000
Copy of Order
2008-11-27Section 73 of the Securities Services Act (insider trading)Dr W J Fouché
Mr W J Fouché
Dr E Fouché and
Mr L van Luik
Administrative penalties:
R30 000 for first three respondents
and
R58 611 for fourth respondent
Transcript of Determinations
2008-11-27Section 73 of the Securities Services Act (insider trading)Assore LimitedAdministrative penalty
R2,5 million
Copy of Order
2008-11-27Section 75 of the Securities Services Act (market manipulation)Mr A J van ZylAdministrative penalty
R50 000
Copy of Order
2008-04-03Section 75 of the Securities Services Act (market manipulation)Mr H P OlivierAdministrative penalty
R10 000
Copy of Order
2008-04-03Section 75 of the Securities Services Act (market manipulation)Mr A ErasmusAdministrative penalty
R10 000
Copy of Order
2008-04-03Section 73 of the Securities Services Act (insider trading)Mr B S DaviesAdministrative penalty
R36 000
Transcript of Determination
2008-04-03Section 75 of the Securities Services Act (market manipulation)Mr P F du ToitAdministrative penalty
R10 000
Transcript of Determination
2008-04-03Section 75 of the Securities Services Act (market manipulation)Mr G D CocolasAdministrative penalty
R750 000
Transcript of Determination
2007-11-01Section 75 of the Securities Services Act (market manipulation)Mr Michael Berman and
Mr Neil Stacey
Administrative penalties of R2 million per respondent. Administrative penalty for first respondent reduced to R1 million on appeal Transcript of Determination
2006-12-20Section 76 of the Securities Services Act (false reporting)Scharrig Mining Limited and
Mr Jason Holland
Administrative penalty
R750 000
Copy of Order