Ombud for Financial Services Providers (FAIS Ombud)
Public Entity · Finance and Administration Services · reports to Ombud Council
The Ombud for Financial Services Providers resolves complaints against financial advisers and intermediaries. It operates under the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002).
It considers complaints by clients who have suffered financial prejudice as a result of a financial services provider contravening the Act, acting negligently, or failing to honour an agreement. Its service is free to complainants.
Much of its caseload concerns unsuitable advice, non-disclosure of material information, and losses arising from investments in unlawful or high-risk schemes. Its determinations are binding and enforceable as a civil judgment, and it operates within the system overseen by the Ombud Council.
Audit record, 5 years
Financial highlights, 2024/25
- Total Revenue
- R92m
- Total Expenditure
- −R73m
- Total Assets
- R112m
- Total Liabilities
- R7m
Values in rand. Sparklines run oldest to newest and are scaled to each series, not to zero.
Leadership, 6 listed
- Ombud
- Adv John Simpson
- Chief Financial Officer
- Mr Shaunil Maharaj
- Senior Management
- Ms Karlien Hechter Ms Refilwe Kgaphola Ms Petronnell Sehlola
- Communications Officers
- Ms Thuso Ngwagwe
Description written for this directory from the entity’s own published sources: www.faisombud.co.za, www.gov.za