South Africa: Financial Service Tribunal

THE FINANCIAL SERVICES TRIBUNAL

Case No: FSP28/2021

In the matter between:

MANDLA PAKADE                                                           APPLICANT

and

OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA)

LIMITED                                                                            RESPONDENT

CONSENT ORDER

WHEREAS

a)         The Applicant has launched an application for reconsideration in terms of S230 of the Financial Sector Regulations Act 9 of 2017(the “Act”).

b)         The Respondent does not oppose the Applicant’s application for condonation for the late filing of the application, nor the main relief sought.

c)         The parties have reached a settlement in the matter and accordingly agree and consent to an order by the Tribunal as set out herein.

IT IS HEREBY ORDERED:

1.      That the decision to debar the Applicant is set aside and the matter referred back to Old Mutual Life Assurance Company (South Africa) Limited for further consideration.

2.      No order as to costs.

LTC HARMS

Deputy Chairperson 21 May 2021