South African Dispute Resolution Office Says It Now Considers Crypto-Related Complaints

According to South Africa’s Office of the FAIS Ombud, an independent dispute resolution office, individuals with crypto-related grievances that occurred after Oct. 19, 2022, can now formally submit such complaints on the agency’s website. toutefois, the Office of the FAIS Ombud insisted that all complaints that occurred before crypto assets were designated financial products will not be considered and should not be resubmitted.

Contenu

Code of Conduct for Crypto Asset Service Providers

The South African government agency charged with investigating and resolving complaints in terms of the Financial Advisory and Intermediary Services (FAIS) Act recently said it can now “investigate complaints against existing registered financial service providers who offer advice on cryptocurrency.” According to the agency, which is known as the Office of the FAIS Ombud, the recent designation of crypto assets as financial products has made this possible.

In a news article publié on its website, the dispute resolution agency said crypto-related complaints can only be filed against registered financial service providers (FSP) who must adhere to the country’s General Code of Conduct for authorized FSPs. This code requires “material disclosures, conducting a needs analysis and recommending a product that is appropriate to one’s needs and circumstances.”

Only Three Complaints Filed

toutefois, according to the remarks by the agency’s Thuso Ngwagwe published by Moneyweb, all complaints lodged with the Office of the FAIS Ombud prior to the Financial Sector Conduct Authority’s crypto asset designation will not be considered. In the report, Ngwagwe reiterated the agency’s assertion that it lacks jurisdiction.

“All complaints received prior to 19 octobre 2022 in respect of investments made into cryptocurrency were dismissed by this Office as we did not have jurisdiction to entertain these matters,” Ngwagwe reportedly said.

According to Ngwagwe, the Office of the FAIS Ombud received a total of eight cryptocurrency-related complaints during the 2022/23 financial year. toutefois, only “three occurred after 19 octobre 2022 and will [therefore] be considered.” The rest of the complaints will not be considered and cannot be resubmitted, Ngwagwe added.

For individuals with complaints that fall within its jurisdiction, the Office of the FAIS Ombud advised visiting its portal and making a formal complaint.

Register your email here to get a weekly update on African news sent to your inbox:

Tags dans cette histoire

Quelles sont vos pensées sur cette histoire? Faites-nous savoir ce que vous pensez dans la section des commentaires ci-dessous.

Terence Zimwara

Terence Zimwara est un journaliste zimbabwéen primé, auteur et écrivain. Il a beaucoup écrit sur les problèmes économiques de certains pays africains ainsi que sur la façon dont les monnaies numériques peuvent fournir aux Africains une voie d'évasion..














Crédits image: Shutterstock, Pixabay, Wiki Commons

Avertissement: Cet article est à titre informatif seulement. Il ne s'agit pas d'une offre directe ou d'une sollicitation d'offre d'achat ou de vente, ou une recommandation ou une approbation de tout produit, prestations de service, ou des entreprises. Bitcoin-Tidings.com ne fournit pas d'investissement, impôt, légal, ou conseil comptable. Ni la société ni l'auteur ne sont responsables, directement ou indirectement, pour tout dommage ou perte causé ou prétendument causé par ou en relation avec l'utilisation ou la confiance accordée à tout contenu, biens ou services mentionnés dans cet article.

Lire avertissement