Office of the Ombud for Financial Services Providers (FAIS Ombud)

Contact Details

Physical: Sussex Office Park, 473 Lynnwood Road, Cnr Lynnwood Road & Sussex Avenue, Lynnwood, 0081
Postal: PO Box 74571, Lynnwood Ridge, 0040
Tel: 012 762 5000 / 012 470 9080
Fax: 086 764 1422 / 012 470 9097 / 012 348 3447
Web:

Overview

The mission of the Office of the Ombud for Financial Services Providers (FAIS Ombud) is to promote consumer protection and enhance the integrity of the financial services industry through resolving complaints impartially, expeditiously and economically.

The objective of the FAIS Ombud is to consider and dispose of complaints by clients against financial services providers in a procedurally fair, informal, economical and expeditious manner, and by reference to what is equitable in all circumstances.

In the investigation and disposal of a complaint, the FAIS Ombud acts independently, impartially and objectively. The complainant and any other party to the complaint are expected to give their fullest cooperation to the disposal of the complaint within a reasonable time. The services of the FAIS Ombud are not similar to those of a professional legal adviser and are confined to the mediation, conciliation or determination of complaints in terms of the FAIS Act and the Rules.

Office Bearers/Management

Ombud
Ms N Bam

Ombud:
Ms Noluntu Bam
Deputy Ombud:
Ms Bridgette Sehlapelo
Chief Financial Officer:
Mr Jean Goodey (Finance Manager)
Communications Officers:
Mpho Rametsi (Office Manager)

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
 
AUDIT OUTCOMEClean AuditClean AuditFinancially UnqualifiedClean Audit
 
FINANCIAL POSITION
Current Assets9 1682 8288813 579
Non-Current Assets1 9542 1892 2981 916
Total Assets11 1215 0173 1795 495
Current Liabilities1 9191 9671 6351 244
Non-Current Liabilities68157233298
Total Liabilities1 9872 1241 8681 542
Total Net Assets9 1342 8931 3113 953
 
FINANCIAL PERFORMANCE
Total Revenue43 43935 82228 90726 944
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expenditure(37 197)(34 241)(31 549)(29 307)
Employee Costs(24 536)(22 632)(20 857)(20 253)
Surplus/(Deficit) for Year6 2421 582(2 642)(2 364)
 
CASH FLOW
Net Cash Flows from Operating Activities8258381 202566
Net Cash Flows from Investing Activities(676)(795)(1 279)(882)
Cash & Cash Equivalents at End of Year250211278467
 
UIFW EXPENDITURE
Unauthorised Expenditure----
Irregular Expenditure3 0292 7481 27336
Fruitless & Wasteful Expenditure----
 
HUMAN RESOURCES
Posts Approved696457n/a
Posts Filled645751n/a
 
SourcesAnnual ReportAnnual ReportAnnual Report n/a

Overseeing Department/Entity

Annual Reports


The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at info@nationalgovernment.co.za so that we can correct them.
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