South Africa: Financial Service Tribunal

SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy

THE FINANCIAL SERVICES TRIBUNAL

A57/2020

In the matter between:

BASFOUR 7337 (PROPRIETARY) LIMITED

TRADING AS OINVEST                                  First Applicant

JANE ENGELBRECHT

(identity number [....] )                                   Second Applicant

And

THE FINANCIAL SECTOR

CONDUCT AUTHORITY                                 Respondent

CONSENT ORDER

BY AGREEMENT between the parties, the following Orders are made by the Tribunal in respect of the two decisions made by the respondent on 14 October 2020 which form the subject of the applicants' application to the Tribunal for reconsideration of the two decisions, lodged with the Tribunal on 13 November 2020:-

1.         The penalty order of R58 608 810 imposed on the first applicant is set aside and remitted to the respondent for further consideration;

2.         The debarment order of 10 years imposed on the second applicant is set aside and remitted to the respondent for further consideration; and

3.         There is no order as to costs.

J M DAMONS (CHAIRPERSON)