Dear friend of the FMF
This week’s editorial, written by Professor Robert Vivian, examines the effects of the withdrawal, with immediate effect, of the Guideline on the determination of reappointment of debarred representatives (13 July 2011) announced by the FSB, the regulator, on 20 October 2017. Professor Vivian explains that the FAIS Act contains legislation that removes a person’s right to work, a right that ought to be protected in a democratic society. The Act contains provisions that empower employers in the financial services sector to restrict dismissed employees from ever again finding work in the sector. The legislation violates the rule of law and the principles of constitutionalism.
The right to work and debarment in the financial market – PROF ROBERT W VIVIAN
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, indeed any enquiry at all, of his or her livelihood nationwide and without any demonstrable knowledge of the legal requirements? Once the employee is debarred in this way from working, the only means left for them to regain employment is to approach the courts at enormous personal cost and risk.
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Publish date: 29 November 2017
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.