The Office of the Ombud for Financial Services Providers recently published their newsletter: FAIStime Newsletter Quarter 4 of 2019 which focuses on consumer rights and responsibilities towards their respective financial services providers. Some of the topics discussed are:
- Risk profiling
- The responsibilities of the insurer, the broker, and consumer in terms of the Long-term and Short-term Policyholder Protection Rules
- Consumer obligations to look deeper than an attractively low premium
- Credit life policies
- Consumer rights and responsibilities regarding medical schemes brokers
- A few FAIS Ombud cases
The newsletter also announces a consumer education drive as well as the establishment of a Client Care Centre to assist the office of the Ombud with enquiries and the registering of complaints.