The Financial Services Tribunal has set aside a R2.5m fine levied against deVere CEO Nigel Green.
It has also set aside his five-year disbarment as a director, though this matter has been referred back to the regulator.against Brite Advisors SA - formerly deVere SA - and withdrew its license. It also made a finding against Green, who was a non-resident director of deVere SA from 2008 to 2015. 2 refers to a requirement that institutions or individuals"observe the utmost good faith and exercise proper care and diligence" with regards to funds, while 2 concerns the discharge of powers and duties. Green had not asked to respond to allegations he contravened 2, and the FSCA had initially thought he contravened a different section to that of 2, the judgement reads.
Green said in a statement on 5 January that he had fully cooperated with the authority during the inspections, and consistently refuted the allegations against him.
_Business Maybe Mark Jooste must approach them for appeal you advise?