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Media release: Far from protecting consumers, the Financial Advisory and Intermediary Services (FAIS) Act and Twin Peaks cost billions and add nothing

 26 Mar 18
FAIS, effective in 2004, was supposed to be a significant advance in protecting unsuspecting consumers from ‘rogues’ in the Financial Services sector who were ‘mis‐selling’ unsuitable insurance policies and causing a high lapse rate (when a policy is…

The right to work and debarment in the financial market

 29 Nov 17
Who in their right mind would believe there is a law on our statute books which is interpreted and applied in such a way that it makes it possible for an employer to deprive an employee, without the due process of law and without any proper enquiry,…

FAIS clearly unclear

26 Jun 17   Gary Moore
A norm cannot be regarded as a “law” unless it is formulated with sufficient precision to enable the citizen to regulate his conduct.…

FAIS: Debarring representatives violates the Rule of Law

14 Jun 17   Gary Moore
The provision of the Financial Advisory and Intermediary Services Act of 2002 (“FAIS”) that vests in employers the power and obligation to banish (“debar”) financial-services representatives from the entire industry, has the effect of discriminating…