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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
A FAIS Ombud determination has the same effect as which of the following once it is registered with the appropriate court?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A civil judgment of that court, which may be enforced accordingly.Correct
- b) A criminal conviction that automatically results in imprisonment.
- c) A non-binding recommendation that the FSP may accept or decline.
- d) An internal note that has no effect outside the Ombud’s office.
Why this is the answer
Once registered, an Ombud determination has the status of a civil court judgment and can be enforced like one. It is neither a mere recommendation, nor a criminal conviction, nor a purely internal note.
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More FAIS Ombud questions
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