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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Chapter VI : Enforcement

Part 1 : Ombud for financial services providers

20. Office of Ombud for Financial Services Providers


(1) There is an office to be known as the Office of the Ombud for Financial Services Providers.


(2) The functions of the Office are performed by the Ombud for Financial Services Providers.


(3) The objective of the Ombud is to consider and dispose of complaints under this Act, and complaints for which the Adjudicator is designated in terms of section 211 of the Financial Sector Regulation Act, in a procedurally fair, informal, economical and expeditious manner and by reference to what is equitable in all the circumstances, with due regard to—
(a) the contractual arrangement or other legal relationship between the complainant and any other party to the complaint; and
(b) the provisions of this Act and the Financial Sector Regulation Act.

[Section 20(3) substituted by section 290, item 13 in Schedule 4, of Act No. 9 of 2017 - effective 1 October 2018 (paragraph (h) of Notice 169 of 2018, GG 41549, dated 29 March 2018]


(4) When dealing with complaints in terms of sections 27 and 28 the Ombud is independent and must be impartial.