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Enforcement Actions

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Date Contravention Respondents/defendants Outcome Copy of Order
2017-10-23 Section  80 (1) (a) read with 80 (3) (a) of the Financial Markets Act, 19 of 2012 James George Witheridge Gubb ​Administrative Penalty: R100 000 Copy of Order
2017-10-23 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002 Refinery 5 (Pty) Limited Administrative Penalty: R20 000 Copy 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​
​11/07/2017 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002 Mzala & Company (Pty) Limited Administrative Penalty: R20 000 Copy of Order
29/06/2017 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002 Nyadombo Tendai Administrative Penalty: R40 000 Copy of Order
15/06/2017 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 LTD Administrative Penalty: R150 000 ​Copy of Order
08/06/2017 Section 4 (4) (a) of the Collective Investment Schemes Act, 45 of 2002 MET Collective Investments (RF) (Pty) Limited R20 000 Penalty Copy of Order
13/04/2017 Section 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 1998 Assupol Life Limited Administrative Penalty: R500 000 ​Copy of Order
10/04/2017 Section 65 of the Collective Investment Schemes Act,45 of 2002 Iza Wealth (Pty) Limited R50 000 Administrative Penalty ​Copy of Order
27-03-2017 Rule 74(a) of the Policyholder Protection Rules (Short Term Insurance), 2004 issued under the Short-Term Insurance Act, No. 53 of 1998 New National Assurance Company Limited Administrative Penalty R100 000 ​Copy of Order
14-03-2017 Section 78 (1) (a) of of the Financial Markets Act, 19 of 2012 Michiel Jakobus Bronn Administrative Penalty: R350 000 plus costs Copy of Order
14-03-2017 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002. ( The FAIS Act) David Melvill Administrative Penalty: R10 000 Copy of Order
2017-03-08 Section 80(1) (a) of the Financial Markets Act 19 of 2012 Robert Fourie Administrative penalty: R2 million together with the costs of the enquiry ​Copy of Order
2017-02-17 Rule 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 1998 Lombard Life Limited Administrative penalty: R150 000 inclusive of costs Copy of Order
2016-12-02 Ruless 16.1(c)(ii), (iii) and (v) of the Policyholder Protection Rules (Long-term Insurance) 2004 African Unity Life Limited
Administrative penalty:
R300 000 (inclusive of costs) payable within 7 days from date of order
Copy of Order
2016-10-25 Section 80(1)(a) of the Financial Markets Act, 19 of 2002 Johan Franck
Administrative Penalty
R1 000 000 inclusive of costs
​Copy of Order
2016-10-25 Section 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
2016-10-24 Section 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 Ltd Administrative Penalty R200 000 inclusive of costs ​Copy of Order
2016-10-20 Section 3A of the General Code of Conduct Discovery Life Limited Administrative Penalty R2 500 000 ​Copy of Order
2016-09-20 Section 13(2)(a)of the Financial Advisory and Intermediary Services Act,37 of 2002 Bayport Financial Services 2010 (Pty) Ltd Administrative Penalty R500 000 ​Copy of Order
2016-09-15 Section 4(4)(a) of the Collective Investment Schemes Act, 45 of 2002 Sanlam Collective Investments (RF) (Pty) Limited Administrative Penalty R10 000 ​Copy of Order
2016-09-09 Rule 15(a) and 15(b) of the Policyholder Protection Rules (Long-Term Insurance), 2004 Lion of Africa Life Assurance Company Ltd Administrative 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 Golding Determination 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 Board ​Copy of Order
2016-08-31 Section 78(1)(a) of the Financial Markets Act, 19 of 2012 Vinayagam Kumarasamy Moodley Administrative Penalty R467 388 ​Copy of Order
2016-08-17 Section 8(2)(d) of the Short-Term Insurance Act, No.53 of 1998 Airborne Insurance Consultants (Pty) Ltd Administrative Penalty R150 000 ​Copy of Order
2016-06-14 Section 80 (1) (b) of the Financial Markets Act, 19 of 2012 Wolfgang Helmut Reinecke Administrative Penalty R25 000 Copy 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
2016-05-11 Section 7(1) of the Financial Advisory and Intermediary Services Act, 37 of 2002. ( The FAIS Act) Joseph Marcus Doubell Administrative Penalty R50 000 ​Copy 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 000 Copy of Order
2016-04-01 Section 75(1) of the Securities Services Act, 36 of 2004 Anthony van Marken Administrative 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
2016-04-13 Section 5(1) of the Collective Investment Schemes Act, 45 of 2002 Magnum Opus Investment Managers (Pty) Limited Administrative Penalty R50 000 ​Copy of Order
2016-03-04 Section 13B (1) of the Pension Funds Act, No. 24 of 1956 Salt Employee Benefits (Pty) Ltd Administrative Penalty R20 000 ​Copy of Order
2016-01-26 Section 7(1) of the Short-term Insurance Act, 53 of 1998 Defensive Legal Protection CC (in liquidation) Administrative Penalty R100 000, payable on or before 31 January 2016, inclusive of cost Copy of Order
2016-01-18 Section 65 of the Collective Investment Schemes Act, 45 of 2002 (CISCA) Pegasus Wealth Management (Pty) Limited Administrative Penalty R50 000, no cost order Copy of Order
​​2015-11-26 Section 80(1)(a) of the Financial Markets Act, 19 of 2012 Friedland, Warren
Administrative penalty

R10 000, inclusive of costs

​Copy of Order
2015-11-26 Section 80(1)(b) of the Financial Markets Act, 19 of 2012 Cokayne, Trevor Clyde Administrative penalty R10 000 payable on or before 30 November 2015, inclusive of cost Copy of Order
2015-11-05 Section 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
2015-11-05 Section 44 of the Short-term Insurance Act, 53 of 1998 Discovery 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
2015-09-16 Section 7 (1) of the Long -Term Insuran​ce Act, No 52 of 1998 Mpiti’s Funeral Services CC and 1 Other Administrative Penalty R200 000, to be paid jointly by the Respondents on or before 30 October 2015, inclusive of costs Copy of Order
2015-07-29 Section 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 2001 Mhlangaveza Family Assurance (Pty) Ltd and 2 Others Administrative penalty R200 000, payable on or before 31 August 2015, interest charged at 9% per annum calculated from date of the order until final payment Copy of Order
2015-07-22 Section 76 (1) (a) and (b) of the Securities Services Act, No 36 of 2004 Grant Chittenden Administrative penalty R300 000, no cost order ​Copy of Order
2015-06-24 Rule 16.1. (c) (iii) of the Policyholders Protection Rules issued under Long – Term Insurance Act, 52 of 1998 Clientele Life Assurance Company Limited Administrative Penalty R100 000, no cost order Copy of Order
2015-06-19 Section 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
2015-05-22 Section 7(3) of the Financial Advisory and Intermediary Services Act, 37 of 2002 Nestlife 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​5-02-27 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
Saxum Insura​nce Limited Administrative penalty R200 000
Copy of Order
2015-02-26 Section 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 Jacobus Administrative penalty R200 000
Copy of Order
2015-01-27 Section 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) Limited Administrative penalty R250 000
Copy of Order
2014-12-12 Section 80 (1) (a) of the Financial Markets Act, No 19 of 2012
Charles Edward Errol Forsdick Administrative penalty R50 000
Copy of Order
2014-10-15 Section 78 of the Financial Markets Act, Act 19 of 2012
Deetlefs, David Administrative penalty R14 152
Costs R15 000
Copy of Order
2014-10-08 1. Section 76 of the Securities Services Act, No 36 of 2004
Blue Financial Services Limited Administrative penalty
R500 000
Copy of Order
2014-10-02 1. 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, Clifford Administrative penalty
R800 000
Copy of Order
2014-10-02 Section 75(1) of the Securities Services Act, No 36 of 2004
Sweeney, David Martin Administrative penalty
R1 000 000
Copy of Order
2014-09-04 Section 73 of the Securities Services Act, No 36 of 2004
Theba, Yaseen A Administrative penalty
R60 000
Copy of Order
2014-08-05 1. 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) Limited Administrative penalty
R1 000 000, to be paid jointly and severally by the respondents
Copy of Order
2014-08-01 Section 7(1) of the Long-Term Insurance Act, No 52 of 1998
Molo Funeral Services CC Administrative penalty R200 000
Costs R71 230
Copy of Order
2014-07-31 1. 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 Limited Administrative penalty R75 000
Copy of Order
2014-05-28 Section 81 of the Financial Markets Act, No 19 of 2012
Comair Limited Administrative penalty R70 000
Costs R30 000
Copy of Order
2014-05-06 Section 7(1) of the Long-Term Insurance Act, No 52 of 1998
Thuso Burial Scheme CC Administrative penalty R100 000 Copy of Order
2014-04-17 Section 75 of the Securities Services Act, No 36 of 2004
Dvoulety, Jaroslav Administrative penalty R50 000 Copy of Order
2014-04-10 Sections 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 Limited Administrative penalty R50 000
Costs R22 000
Copy of Order
2014-04-10 Section 8(2)(d) of the Short-Term Insurance Act, No 53 of 1998
Airborne Insurance Consultants (Pty) Limited Administrative penalty R100 000 Copy of Order
2014-02-27 Section 75(1) of the Securities Services Act, No 36 of 2004
Murray, Christopher John Administrative Penalty R750 000 Copy of Order
2014-01-29 Section 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) Limited Administrative Penalty R50 000 Copy of Order
2014-01-24 Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998
My Lawyer Legal Assistance (Pty) Limited Administrative Penalty R200 000 Copy of Order
2013-12-13 Section 73(4) of the Securities Services Act, No 36 of 2004
Lovell, Justin Administrative Penalty R10 080 Copy of Order
2013-12-11 Section 75(1) of the Securities Services Act, No 36 of 2004
Reed, Douglas Administrative Penalty R2 000 000 (inclusive of costs) Copy of Order
2013-12-11 Section 75(1) of the Securities Services Act, No 36 of 2004
Van Tonder, Jacobus Michiel Administrative Penalty R1 000 000 Copy of Order
2013-12-09 Section 65(3) of the Collective Investment Schemes Control Act, No 45 of 2002
Andre Cillie Capital Management (Pty) Limited Administrative Penalty R10 000
Costs R114 000
Copy of Order
2013-11-26 Section 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 Limited Administrative Penalty R1 000 000 Copy of Order
2013-11-26 Section 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 Limited Administrative Penalty R2 000 000 Copy of Order
2013-11-26 Section 76 of the Securities Services Act, No 36 of 2004
Wesizwe Platinum Limited Administrative Penalty R65 000 Copy of Order
2013-09-30 Section 8(3) of the Long-Term Insurance Act, No 52 of 1998
Doves Group (Pty) Limited Administrative penalty R100 000
Costs R50 000
Copy of Order
2013-07-22 Section 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 Insurance Underwriting
Managers (Pty) Limited
Administrative penalty R50 000 Copy of Order
2013-07-15 1. 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 CC Administrative penalty R40 000 Copy of Order
2013-07-01 1. 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 Limited Administrative penalty R200 000 Copy of Order
2013-06-29 Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998 The Lawyers Voice (Pty) Limited Administrative penalty R600 000 Copy of Order
2013-05-09 Sections 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 2002 Hippo Comparative Services (Pty) Limited Administrative penalty
R1 500 000
Copy of Order
2013-04-23 Contravention 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) Ltd Administrative penalty R20 000 Copy of Order
2013-03-27 Section 26(1) of the Long-Term Insurance Act, No 52 of 1998 PSG Asset Management Holdings (Pty) Limited Administrative penalty R250 000 Copy of Order
2013-03-19 Regulation 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 2002 EQ.FIN (Pty) Limited Administrative penalty R150 000 Copy of Order
2013-02-18 Section 7(1)(a) of the Short-Term Insurance Act, No 53 of 1998 Netcover (Pty) Limited Administrative penalty R50 000 Copy of Order
2013-02-12 Section 45 of the Short-Term Insurance Act, No 53 of 1998 Unitrans Insurance Limited Administrative penalty R200 000 Copy of Order
2013-02-08 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Cucamla Finansiële Dienste CC Administrative penalty R100 000 Copy of Order
2013-01-22 Section 73 of the Securities Services Act, No 36 of 2004 Handelsman, Kevin Guy Administrative penalty R68 460 Copy of Order
2013-01-07 Section 73 of the Securities Services Act, No 36 of 2004 Ralston, Michael Trevor Administrative penalty R40 000 Copy of Order
2012-12-05 Regulation 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 2002 Viljoen, Phillipus Christoffel and Intelinet Networking Solutions (Pty) Limited Administrative penalty R30 000 Copy of Order
2012-11-13 Sections 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 Act Matthys Johannes Marais t/a Protea Makelaars Administrative penalty R150 000 Copy of Order
2012-11-12 Section 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 2002 Moremodiegisa Financial Services and Projects CC and Setlhare, Samuel Mohale Administrative penalty R20 000 Copy of Order
2012-11-12 Section 73 of the Securities Services Act, No 36 of 2004 Collins, Johan Klue Administrative penalty R31 500 Copy of Order
2012-11-06 1. 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
2012-11-06 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Fedgroup Employee Benefits (Pty) Limited Administrative penalty R10 000 Copy of Order
2012-10-26 Section 5.1(a)(i) of the Policyholder Protection Rules, 2004, promulgated under section 62 of the Long-Term Insurance Act, No 52 of 1998 Channel Life Limited Administrative penalty R100 000 Copy of Order
2012-10-11 Section 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 2002 Labuschagne, Pieter Administrative penalty R150 000 Copy of Order
2012-10-04 Section 44 of the Short-Term Insurance Act, No 53 of 1998 Discovery Insure Limited Administrative penalty R50 000 Copy of Order
2012-08-31 Section 75 of the Securities Services Act, No 36 of 2004 Hendricks, Nazeem Mohlaba, Chuene James Administrative penalty R5 million per respondent Copy of Order
2012-08-31 Section 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 2002 Scientia Actuaries and Consultants (Pty) Limited Administrative penalty R10 000 Copy of Order
2012-08-31 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Southern Africa Quantum Employee Benefits (Pty) Limited Administrative penalty R100 000 Copy of Order
2012-07-10 Sections 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 2002 Counterpoint Trading 328 CC t/a Policy Provider Administrative penalty R50 000 Copy of Order
2012-07-10 Sections 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 2002 Fusion Properties 268 CC t/a Broker’s Choice Administrative penalty R50 000 Copy of Order
2012-06-15 Section 7(1) of the Long-Term Insurance Act, No 52 of 1998 Chamane, Thandeka Prudence t/a Isiphiwo Funeral Services CC Administrative penalty R50 000 Copy of Order
2012-05-31 Section 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 2002 Prosperity Group (Pty) Limited Administrative penalty R50 000 Copy of Order
2012-05-30 Section 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 1998 Prospercare Benefit Solutions (Pty) Limited Administrative penalty R80 000 Copy of Order
2012-05-28 Section 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 2002 Gidimag CC Administrative penalty R10 000 Copy of Order
2012-05-24 Section 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 2002 McFarquhar, Roderick Charles Administrative penalty R10 000 Copy of Order
2012-05-21 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Ness Consulting Services (Pty) Limited Administrative penalty R100 000 Copy of Order
2012-05-14 Section 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 2002 Phakane, Clement Karabo Administrative penalty R25 000 Copy of Order
2012-04-12 Sections 5.1(g) and 5.3 of the Code of Conduct for Discretionary FSP’s ABSA Asset Management (Pty) Limited. Administrative penalty R10 000 Copy of Order
2012-04-10 Rules 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 Limited Administrative penalty R100 000 Copy of Order
2012-03-29 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Capital Alliance Life Limited Administrative penalty R100 000 Copy of Order
2012-03-27 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 W A Davidson CC Administrative penalty R10 000 Copy of Order
2012-03-23 Section 9(5)(c) of Board Notice 106 of 2008 ABSA Investment Management Services (Pty) Limited Administrative penalty R100 000 Copy of Order
2012-03-22 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Lombard Life Limited Administrative penalty R100 000 Copy of Order
2012-03-22 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Financial Management International Limited Administrative penalty R75 000 Copy of Order
2012-02-21 Section 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 2002 Allcover CC Administrative penalty R10 000 Copy of Order
2012-02-14 Section 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 2002 No Doubt Trading CC Administrative penalty R25 000 Copy of Order
2012-02-14 Section 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 2002 Autumn Equities CC Administrative penalty R25 000 Copy of Order
2012-02-10 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Verso Multi Manager (Pty) Limited Administrative penalty R32 204 Copy of Order
2012-02-02 Section 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 2002 So Where To Fashion And Projects CC Administrative penalty R25 000 Copy of Order
2012-01-12 Section 75 of the Securities Services Act (market manipulation) Moosa, Mahomed Zubeir Administrative penalty R4 000 000 Copy of Order
2012-01-09 Section 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 2002 Paul Venter, Robert McLaren Behrens Administrative penalty R100 000 Copy of Order
2011-12-15 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Standard Bank Insurance Brokers (Pty) Limited Administrative penalty R50 000 Copy of Order
2011-12-06 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Old Mutual Trust Limited Administrative penalty R27 500 Copy of Order
2011-11-22 Section 13B(1) of the Pension Funds Act, No 24 of 1956 Qmulate (Pty) Limited trading as Mianzo Asset Management Administrative penalty R10 350 Copy of Order
2011-11-17 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Maxim Employee Benefits (Pty) Limited Administrative penalty R14 230 Copy of Order
2011-10-26 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Sanlam Developing Markets Limited Administrative penalty R100 000 Copy of Order
2011-10-26 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Safrican Insurance Company Limited Administrative penalty R60 000 Copy of Order
2011-10-21 Section 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 2002 EMQ Training Solutions CC Administrative penalty R25 000 Copy of Order
2011-10-20 Section 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 2002 Jamjam, Mrs Zimkhita Administrative penalty R25 000 Copy of Order
2011-10-19 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Grant Thornton Capital (Pty) Limited Administrative penalty R23 756 Copy of Order
2011-10-17 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 RF Administrators (Pty) Limited Administrative penalty R22 299 Copy of Order
2011-10-13 Section 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 2002 Trading Point Academy (Pty) Limited Administrative penalty R25 000 Copy of order
2011-10-13 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 LifeSense Financial Services Administration (Pty) Limited Administrative penalty R10 000 Copy of order
2011-10-13 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Prescient Investment Management (Pty) Limited Administrative penalty R19 300 Copy of order
2011-10-13 Section 7(1) of the Long-Term Insurance Act, 52 of 1998 GFS Investments CC t/a Gauteng Funeral Services Administrative penalty R50 000 Copy of order
2011-10-03 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Vic Glassock and Associates CC Administrative penalty R15 048 Copy of Order
2011-09-29 Section 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 2002 ABSA Investment Management Services (Pty) Limited Administrative penalty R170 720 Copy of order
2011-09-26 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Blue Ink Institutional Investments (Pty) Limited Administrative penalty R42 166 Copy of order
2011-09-22 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Citadel Administration Services (Pty) Limited Administrative penalty R30 263 Copy of order
2011-09-22 Section 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 2002 Intelligent Compliance and Education (Pty) Limited Administrative penalty R50 000 Copy of order
2011-09-19 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Southern Africa Quantum Employee Benefits (Pty) Limited Administrative penalty R18 693 Copy of order
2011-09-16 Section 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 2002 JDDN Consulting Services (Pty) Limited t/a Discovery Consulting Services Limpopo Administrative penalty R80 000 Copy of order
2011-09-15 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Fin-U-Med Corporate (Pty) Limited t/a Sport Solutions Administrative penalty R100 000 Copy of order
2011-09-15 Section 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 2002 Lereko Metier Capital Growth Fund Managers (Pty) Limited Administrative penalty R70 000 Copy of order
2011-09-15 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Sanlam Trust Limited Administrative penalty R36 585 Copy of order
2011-09-13 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Hermes Asset Management (Pty) Limited Administrative penalty R10 000 Copy of order
2011-09-13 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Ultimate Fund Administrators (Pty) Limited Administrative penalty R10 000 Copy of order
2011-09-13 Section 13B(1) of the Pension Funds Act, No 24 of 1956 read with condition 7.3 as determined in Board Notice 24 of 2002 Foord Asset Management (Pty) Limited Administrative penalty R10 000 Copy of order
2011-09-06 Section 13B(1) of the Pension Funds Act, No 24 of 1956 TDF Fund Administrators (Pty) Limited Administrative penalty R10 000 Copy of Order
2011-09-06 Section 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 2002 Lombard, Friedrich Administrative penalty R50 000 Copy of Order
2011-09-06 Section 13B(1) of the Pension Funds Act, No 24 of 1956 Fussel and Associates Employee Benefits (Pty) Limited Administrative penalty R10 000 Copy of Order
2011-09-06 Section 13(1)(b)(i) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Clientèle General Insurance Company Limited Administrative penalty R100 000 Copy of Order
2011-08-15 Section 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 Providers PJD Financial Capital CC Administrative penalty R50 000 Copy of Order
2011-07-27 Section 13B(1) of the Pension Funds Act, No 24 of 1956, read with condition 7.3 as determined in Board Notice 24 of 2002 Aon South Africa (Pty) Ltd Administrative penalty R300 000 Copy of order
2011-07-27 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Collective Insurance Brokers (Pty)Ltd Administrative penalty R20 000 Copy of order
2011-07-27 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Smartcall Insurance Administrators (Pty) Ltd Administrative penalty R50 000 Copy of order
2011-07-27 Section 75 of the Securities Services Act (market manipulation) Fabian, Arie Paul Administrative penalty R250 000 Copy of order
2011-07-27 Section 7(1) and 13(1)(b) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Gertel Algemene Handelaars cc t/a Multi Brokers Administrative penalty R45 000 Copy of order
2011-07-27 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Eagle Watch Financial Services Providers (Pty) Ltd Administrative penalty R50 000 Copy of order
2011-07-18 Section 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 2002 Retirement Fund Solutions Holdings (Pty) Limited Administrative penalty R7 500 Copy of Order
2011-07-13 Section 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 2009 Premier Growth (Pty) Limited t/a The Unlimited Administrative penalty R10 000 Copy of Order
2011-07-07 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 African Unity Insurance Limited Administrative penalty R100 000 Copy of Order
2011-07-04 Section 45 of the Short-Term Insurance Act, No 53 of 1998, read with regulations 4.1 and 4.2 of the Act The Hollard Insurance Company Limited Administrative penalty R70 000 Copy of Order
2011-06-30 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Gingirikani Marketing CC t/a Ditiro Group Funeral Administrators Administrative penalty R40 000 Copy of Order
2011-06-30 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Nothemba Funeral and Financial Services CC t/a Nothemba Funeral Services Administrative penalty R20 000 Copy of Order
2011-06-30 Section 7(3) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Nestlife Assurance Corporation Limited Administrative penalty R100 000 Copy of Order
2011-06-22 Section 13B(1) of the Pension Funds Act, No 24 of 1956 mCubed Employee Benefits (Pty) Limited Administrative penalty R10 000 Copy of Order
2011-06-22 Section 4(3)(b) and 8(1)(a) of the Short-Term Insurance Act, No 53 of 2001 CIB Insurance Solutions (Pty) Limited Administrative penalty R150 000 Copy of Order
2011-05-11 Section 7(1) of the Long-Term Insurance Act, No 52 of 1998 Mahuhuli Funeral Services CC and Mrs M A Molai Administrative penalty R15 000 Copy of Order
2011-05-11 Section 4(3)(b) of the Short-Term Insurance Act, No 53 of 2001 African Eagle Financial Services (Pty) Limited Administrative penalty R25 000 Copy of Order
2011-05-11 Section 7(1) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Siphiwo Financial and Management Consultants (Pty) Limited Administrative penalty R10 000 Copy of Order
2011-04-01 Section 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)
2011-03-28 Section 13B(1) of the Pension Funds Act, No 24 of 1956 Colourfield Liability Solutions (Pty) Limited Administrative penalty R158 455 Copy of Order
2011-03-28 Section 13B(1) of the Pension Funds Act, No 24 of 1956 Pan African Asset Management (Pty) Limited Administrative penalty R30 888 Copy of Order
2011-01-19 Section 73 of the Securities Services Act (insider trading) Mr G L van Niekerk Administrative penalty R16 000 Copy of Order
2010-09-17 Section 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
2010-06-30 Section 75 of the Securities Services Act (market manipulation) Mr T Pretorius Administrative penalty R2 000 000 Transcript of Determination
2010-06-01 Section 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
2010-03-15 Section 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
2010-01-21 Section 7(1) read with section 13(1)(b)(i) of the Financial Advisory and Intermediary Services Act, No 37 of 2002 Mr L C Buchner Administrative penalty R40 000 Copy of Order
2009-12-10 Section 43(1)(a) of the Collective Investment Schemes Control Act, No 45 of 2002 Community Growth Management Company Limited Administrative penalty R20 000 Copy of Order
2009-12-10 Section 8(1)(b) of the Short-Term Insurance Act, No 53 of 1998 MiWay Finance (Pty) Limited Administrative penalty R300 000 Copy of Order
2009-12-02 Section 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) Limited Administrative penalty R20 000 Copy of Order
2009-11-30 Paragraph 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
2009-10-21 Section 73 of the Securities Services Act (Insider Trading) Mr M Meyer Administrative penalty
R150 000
Transcript of Determination
2009-09-29 Section 76 of the Securities Services Act (false reporting) Labat Africa Limited and Mr B G van Rooyen Administrative penalties R25 000 per respondent Transcript of Determinations
2009-09-22 Section 73 of the Securities Services Act (insider trading) Mr G Pietersen Administrative penalty R94 500 Copy of Order
2009-09-22 Section 75 of the Securities Services Act (market manipulation) and Section 76 of the Securities Services Act (false reporting) Mr N L Hittler Administrative 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
2009-07-16 Section 76 of the Securities Services Act (false reporting) Stratcorp Limited Administrative penalty R50 000 Copy of Order
2009-07-16 Section 73 of the Securities Services Act (insider trading) Mr G D de Jager Administrative penalty
R587 511
Copy of Order
2008-11-27 Section 76 of the Securities Services Act (false reporting) Mr D Marais and
Mr B Meyer
Administrative penalties R100 000 per respondent Copy of Order
2008-11-27 Section 73 of the Securities Services Act (insider trading) Mr C G Chelin Administrative penalty
R94 500
Copy of Order
2008-11-27 Section 75 of the Securities Services Act (market manipulation) Mrs K Cull Administrative penalty
R25 000
Copy of Order
2008-11-27 Section 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
2008-11-27 Section 73 of the Securities Services Act (insider trading) Assore Limited Administrative penalty
R2,5 million
Copy of Order
2008-11-27 Section 75 of the Securities Services Act (market manipulation) Mr A J van Zyl Administrative penalty
R50 000
Copy of Order
2008-04-03 Section 75 of the Securities Services Act (market manipulation) Mr H P Olivier Administrative penalty
R10 000
Copy of Order
2008-04-03 Section 75 of the Securities Services Act (market manipulation) Mr A Erasmus Administrative penalty
R10 000
Copy of Order
2008-04-03 Section 73 of the Securities Services Act (insider trading) Mr B S Davies Administrative penalty
R36 000
Transcript of Determination
2008-04-03 Section 75 of the Securities Services Act (market manipulation) Mr P F du Toit Administrative penalty
R10 000
Transcript of Determination
2008-04-03 Section 75 of the Securities Services Act (market manipulation) Mr G D Cocolas Administrative penalty
R750 000
Transcript of Determination
2007-11-01 Section 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
2006-12-20 Section 76 of the Securities Services Act (false reporting) Scharrig Mining Limited and
Mr Jason Holland
Administrative penalty
R750 000
Copy of Order
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