South Africa Case Law

Impact Financial Consultants CC and Another v Bam NO and Others (856/2019)

Impact Financial Consultants CC and Another v Bam NO and Others (856/2019) [2021] ZASCA 54; [2021] 3 All SA 83 (SCA) (30 April 2021)

Court

Supreme Court of Appeal

Case number

856/2019

Judges

Navsa, Makgoka, Dlodlo, Goosen, Unterhalter

The Supreme Court of Appeal set aside FAIS Ombud determinations after finding the true financial product had not been established before liability was decided.

• Financial Advisory And Intermediary Services Act
• Ombud Jurisdiction
• Negligence
• Causation
• Reviewable Error
• Fais-act