What this page covers
The Tribunal is where a decision by the FSCA, the Prudential Authority or an ombud can be taken for reconsideration. It is not a court and it does not retry the facts from scratch.
| Decision | By | Reviewable |
|---|---|---|
| Administrative penalty | FSCA | Yes |
| Debarment | FSCA or an FSP | Yes |
| Licence refusal, suspension or withdrawal | FSCA | Yes |
| A directive | FSCA | Yes |
| An ombud determination | FAIS Ombud and others | Yes |
| Prudential decision | Prudential Authority | Yes |
| Item | Rule |
|---|---|
| Time limit | Thirty days from the decision or its reasons |
| Standing | A person aggrieved by the decision |
| First step | Ask the decision maker for reasons |
| Suspension | The decision may be suspended pending reconsideration |
| Cost | No fee to apply |
| Representation | Legal representation allowed, not required |
| Outcome | Effect |
|---|---|
| Uphold the decision | It stands |
| Set it aside | The decision falls away |
| Remit it | Sent back to the decision maker to redo |
| Substitute it | Only in limited circumstances |
| Further appeal | To the High Court on a question of law |
Download this data
Every table on this page as a spreadsheet, with the source and the date it was checked in the header rows.
⬇ Download CSVHow these figures work
The figures on this page come from the body that publishes them and change on a schedule rather than continuously, which is what makes them worth keeping in one place. A debarment is the decision most often taken to the Tribunal, usually by a representative debarred by their own employer rather than by the FSCA.
The Tribunal publishes its decisions, which makes them a useful record of how the regulator's powers are actually being applied.
★ What this means in practice
Thirty days is short. Someone intending to challenge a decision needs to ask for reasons immediately rather than waiting.
✕ Common mistakes
- A debarment is the decision most often taken to the Tribunal, usually by. A debarment is the decision most often taken to the Tribunal, usually by a representative debarred by their own employer rather than by the FSCA.
- The Tribunal publishes its decisions, which makes them a useful record o. The Tribunal publishes its decisions, which makes them a useful record of how the regulator's powers are actually being applied.
- Thirty days is short. Thirty days is short. Someone intending to challenge a decision needs to ask for reasons immediately rather than waiting.
- Taking a figure without its date. A number from a reference page is only as good as when it was last checked, which is why the date sits at the top of this one.
Notes on reading these figures
- A debarment is the decision most often taken to the Tribunal, usually by a representative debarred by their own employer rather than by the FSCA.
- The Tribunal publishes its decisions, which makes them a useful record of how the regulator's powers are actually being applied.
- Thirty days is short. Someone intending to challenge a decision needs to ask for reasons immediately rather than waiting.
To put these figures to work, The FSCA Enforcement and Penalties runs the arithmetic on your own numbers; FSCA Debarment Register covers the same ground in ordinary language; Ombudsman Schemes goes into the detail this table only summarises; FAIS Ombud Complaint Process is the related figure worth reading beside it; and South African Financial Laws covers what this page leaves out.
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Terms used on this page
Frequently asked questions
What does the Tribunal do?
It reconsiders decisions by the FSCA, the Prudential Authority and the ombud schemes. It is not a court and does not retry the facts.
How long do I have to apply?
Thirty days from the decision or from receiving its reasons. That is a hard limit.
What does it cost?
Nothing to apply. Legal representation is allowed but not required.
What can it decide?
Uphold the decision, set it aside, send it back to be retaken, or in limited cases substitute its own.
Which decisions are taken there most often?
Debarments, usually by a representative debarred by their own employer rather than by the FSCA.
Can I appeal further?
To the High Court, on a question of law.