Insurance firm ordered to honour indemnity for broker
The SCA has ordered an insurance company to honour professional indemnity cover for a broker who led his client to invest in the Sharemax scheme. Volksblad reports that a widow, Marisa Oosthuizen, invested R2m on the advice of her broker, Jose Castro. Centriq Insurance was previously ordered to indemnify ...
FAIS Ombud determination involving Van Zyl and Silver Seed Capital (Pty) Ltd and others
By Shamaa Sheik
The following matter was heard in the Office of the Ombud For Financial Services Providers in Pretoria:
- Johannes Gideon Van Zyl (Complainant) and Silver Seed Capital (Pty) Ltd (1st Respondent) and Sandro Manuel Azevedo Veloza (2nd Respondent) and Dion Chinnaiah (3rd Respondent) – case number FAIS 03313 ...