What this page covers
A debarment bars a person from working in financial services. It follows the individual rather than the firm, which is why the register is worth searching by name before you take anyone's advice.
| Item | Rule |
|---|---|
| Who can debar | The FSCA, or an FSP debarring its own representative |
| Grounds | Failing the fit and proper requirements, or contravening the Act |
| Effect | Barred from rendering financial services |
| Duration | Between one and five years, depending on the grounds |
| Register | Public, searchable, free |
| Appeal | To the Financial Services Tribunal within thirty days |
| Check | Where | What you are looking for |
|---|---|---|
| Is the firm licensed | FSCA FAIS register | A current FSP number |
| Is the person a representative | FSCA register | Listed under that FSP |
| Is the person debarred | FSCA debarment register | Their name, any spelling |
| Has the firm been warned about | FSCA public warnings | The firm name and trading names |
| Any enforcement action | FSCA enforcement matters | Penalties or directives |
| Belief | Reality |
|---|---|
| A debarment ends when the firm rehires them | It attaches to the person, not the job |
| A debarred person can work unsupervised elsewhere | They cannot render financial services at all |
| Debarment means a criminal conviction | It is an administrative sanction, not a criminal one |
| The register is hard to access | It is public, online and free |
| Only advisors are debarred | Any representative can be |
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. Search the register by surname and by any variation of the first name. A person intent on continuing to trade on other people's money is unlikely to use the same spelling.
An FSP that debars its own representative must report it to the FSCA, and that entry appears on the public register.
★ What this means in practice
The absence of a name from the register proves only that they have not been debarred. It does not prove they are licensed, which is a separate check.
✕ Common mistakes
- Search the register by surname and by any variation of the first name. Search the register by surname and by any variation of the first name. A person intent on continuing to trade on other people's money is unlikely to use the same spelling.
- An FSP that debars its own representative must report it to the FSCA, an. An FSP that debars its own representative must report it to the FSCA, and that entry appears on the public register.
- The absence of a name from the register proves only that they have not b. The absence of a name from the register proves only that they have not been debarred. It does not prove they are licensed, which is a separate check.
- 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
- Search the register by surname and by any variation of the first name. A person intent on continuing to trade on other people's money is unlikely to use the same spelling.
- An FSP that debars its own representative must report it to the FSCA, and that entry appears on the public register.
- The absence of a name from the register proves only that they have not been debarred. It does not prove they are licensed, which is a separate check.
To put these figures to work, The How to Verify an FSP Licence runs the arithmetic on your own numbers; FSCA Enforcement and Penalties covers the same ground in ordinary language; Financial Services Tribunal goes into the detail this table only summarises; Common SA trading scams is the related figure worth reading beside it; and FSCA FSP Licence Categories covers what this page leaves out.
Put this table on your own site
The table below can sit on your own page and stays current without you editing anything.
- Preview the embeddable table as it will appear on your site
Add the code below to your own site. The table it renders is served from here, so it never goes stale.
<iframe src="https://www.tradeanswers.co.za/embed/ref-fsca-debarment-register-reference.html" width="100%" height="620" style="border:0" title="FSCA Debarment Register Reference"></iframe>Free to use with attribution. The link back to this page is built into the embed.
Terms used on this page
Frequently asked questions
What does debarment mean?
The person is barred from rendering financial services, for between one and five years.
Does it follow the person or the firm?
The person. Someone debarred cannot simply move to another provider.
How do I check?
Search the FSCA debarment register by name. It is public, online and free.
Is debarment a criminal conviction?
No. It is an administrative sanction, though the conduct behind it may also be criminal.
Can it be appealed?
Yes, to the Financial Services Tribunal within thirty days.
If a name is not on the register, is the person licensed?
Not necessarily. That is a separate check on the FSCA representative register.