Public Warnings – Database of Regulatory Sanctions

Filter your search of our database of regulatory sanctions (Errors and omissions excepted)

(For best results, please include the full name or the first part of the entity or person name. Please include any apostrophe ['] or dash [-] if contained in the name you are searching for.)

Type Industry Name Transgression Regulatory Sanction Effective Date End Date
Legal Entity Insurance Industry Light of Life Insurance Brokers
  • Operating without a valid license. 
  • Failure to timeously submit quarterly returns. 
  • Operating without a valid professional indemnity and fidelity guarantee.
Licence renewal declined February, 2014
Natural Person Insurance Industry Velaphi Luke Motsa
  • Operating without a valid license. 
  • Failure to timeously submit financial statements. 
  • Operating without a professional indemnity and fidelity guarantee.
Debarred for 3 years December, 2013 December, 2016
Legal Entity Insurance Industry Budget Insurance Brokers
  • Operating without a valid license. 
  • Failure to timeously submit financial statements 
  • Operating without a professional indemnity and fidelity guarantee.
Debarred for 3 years December, 2013 December, 2016
Natural Person Insurance Industry Midford Mazibuko
  • Conducting insurance business without a valid license
  • Failure to timeously remit premiums due to insurer. 
  • Misappropriation of policy holders' premiums. 
  • Operating without a professional indemnity and fidelity guarantee.
Debarred for 5 years November, 2013 November, 2018
Legal Entity Insurance Industry Midbev Investments
  • Conducting insurance business without a valid license.
  • Failure to timeously remit premiums due to insurer.
  • Misappropriation of policy holders’ premiums.
  • Operating without a professional indemnity and fidelity guarantee. 
Debarred for 5 years November, 2013 November, 2018
Natural Person Insurance Industry Cornelius Jacobus Kleinsmith
  • Operating without a valid license. 
  • Sourcing insurance business using unregistered agents 
  • Failure to timeously remit financial statements. 
  • Failure to appoint AML/CFT compliance officer 
  • Failure to act with integrity, professionalism, utmost good faith in dealings with the public and to act in the best interest of clients.   
Debarred for 5 years June, 2013 June, 2018
Legal Entity Insurance Industry Isambulo Investments
  • Operating without a valid license. 
  • Sourcing insurance business using unregistered agents. 
  • Failure to timeously remit financial statements. 
  • Failure to appoint AML/CFT compliance officer. 
  • Failure to act with integrity, professionalism, utmost good faith in dealings with the public and to act in the best interest of clients. 
Debarred for 5 years June, 2013 June, 2018
Natural Person Insurance Industry Michael Mngadi
  • Failure to timeously remit premiums due to insurer. 
  • Misappropriation of policy holders’ premiums. 
  • Sourcing insurance business using an unregistered agent. 
  • Failure to act with integrity, professionalism, utmost good faith in dealings with the public and to act in the best interest of clients.
Debarred for 10 years May, 2013 May, 2023
Legal Entity Insurance Industry RLT Investments
  • Failure to timeously remit premiums due to insurer. 
  • Misappropriation of policy holders’ premiums. 
  • Sourcing insurance business using an unregistered agent. Failure to act with integrity, professionalism, utmost good faith in dealings with the public and to act in the best interest of clients.
Debarred for 10 years May, 2013 May, 2023
Natural Person Insurance Industry Nomsa Precious Ndlovu
  • Submission of fraudulent academic qualifications to register as an insurance agent.
Probation- not to commit same offence within 2 years period March, 2013 March, 2015
Natural Person Insurance Industry Sibusiso Cedric Simba
  • Submission of fraudulent academic qualifications to register as an insurance agent.
Probation- not to commit same offence within 2 years period March, 2013 March, 2015
Natural Person Retirement Fund Industry Mandla Luphondvo
  • Failure to avoid conflict of Interest with a Retirement Fund service provider.
Debarred from being a retirement fund Trustee for 5 years March, 2013 March, 2018
Natural Person Retirement Fund Industry Leonard Dlamini
  • Failure to avoid conflict of Interest with a Retirement Fund service provider.
Debarred from being a retirement fund Trustee for 5 years February, 2013 February, 2018
Natural Person Insurance Industry Vusi Sibisi
  • Conducting insurance business without a license
  • Unpaid claims due to policy holders.
Debarred for 5 years December, 2012 December, 2017
Legal Entity Insurance Industry Lifeguard Funeral Network Scheme
  • Conducting insurance business without a license.
  • Unpaid claims to policy holders
Debarred for 5 years December, 2012 December, 2017
Natural Person Insurance Industry Thulani Nkambule
  • Dishonest concealment of past gross misconduct in statement of professional work conduct
  • Operating without a professional indemnity and fidelity guarantee.
Debarred for 5 years September, 2011 September, 2016
Legal Entity Insurance Industry Phathu Insurance Brokers
  • Dishonest concealment of past gross misconduct in statement of professional work conduct of the Managing Director. 
  • Operating without a professional indemnity and fidelity guarantee.
Debarred for 5 years September, 2011 September, 2016

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