n Without Prejudice - The Supreme Court and FAISA : financial law




The Supreme Court of Appeal (SCA), in its recent judgement in the matter of case number: (455/12)1, made a finding in relation to the definition of 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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