n Without Prejudice - The Supreme Court and FAISA : financial law
|Article Title||The Supreme Court and FAISA : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Darren Willans and Sarah Leigh Pinder|
|Publication Date||Jul 2013|
|Pages||6 - 9|
The Supreme Court of Appeal (SCA), in its recent judgement in the matter of Tristar Investments (Pty) Ltd v The Chemical Industries National Provident Fund case number: (455/12)1, made a finding in relation to the definition of "intermediary service" as defined in the Financial Advisory and Intermediary Services Act (37 of 2002). This judgement is to be welcomed by the financial services industry in that it provides some clarity regarding what services constitute intermediary services and, accordingly, under what circumstances a financial services provider is required to apply for (or hold) a licence to offer intermediary services.
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