Subject Title - INSETA

A person who anticipates a determination of the Ombud and does somethingto influence the determination or who wilfully interrupts any proceedings ofthe Ombud, is guilty of an offence and liable on conviction to a fine or toimprisonment for a period not exceeding one year.Case fees, costs and interestThe Ombud may, when accepting a complaint in terms of section 27(5) of theAct, require the respondent to pay a case fee to the Office not exceedingR1 000.The case fee is non-refundable irrespective of the outcome of the matter.Payment of a case may be enforced by the Office as a final determination bythe Ombud.When making a final determination in terms of section 28 of the Act, theOmbud may grant costs against the respondent or, in the circumstancescontemplated by section 28(2)(b)(iii), against the complainant, in either casein favour of the other party to the complaint or in favour of the Office. Anycosts awarded by the Ombud must be quantified by the Ombud with dueregard to the nature of the complaint, the time spent on the complaint, theexpense and inconvenience caused to a party, the conduct of a party inresolving the complaint and any other factor deemed by the Ombud to beappropriate.Any award of interest and costs forms part of the relevant final determinationof the Ombud.SummaryThe Ombud for Financial Services Providers (FAIS Ombud) and theStatutory Ombud are one and the same entity.The main objective of the Ombud for Financial Services Providers(FAIS Ombud) is to resolve disputes relating to the rendering offinancial services by providers where they have either failed tocomply with the FAIS Act, acted negligently - causing the client tosuffer, or the client will potentially suffer some form of prejudice ordamage.The FAIS Act requires that when adjudicating a complaint, theOmbud for Financial Services Providers (FAIS Ombud) must consider© INSETA - Section 1 12a 267