What you need to know about the new direct marketing guidance note
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New Ombud at FAIS
The new Financial Advisory and Intermediary Services (FAIS) Ombud is Noluntu Bam, who has been appointed by the Financial Services Board to take over from Charles Pillai.
Newly appointed FAIS Ombud Noluntu Bam
Since inception of the office, Bam has had a critical role to play in structuring the organisation from ground level. For the past three years in her role as Deputy Ombud, she has been responsible for many of the decisions that set the tone and direction of the institution that is already established within the financial services sector.
She said many South Africans were still unaware of the existence of the FAIS Ombud. Each day consumers acknowledged they had only just become aware of the dispute resolution institution. “I am mindful of the fact that a lot more needs to be done. I believe that in the short time that the office has been in existence we have only scratched the surface,” said Bam.
Finance Minister Pravin Gordhan has appointed Pillai, the founding Ombud, as the Pensions Funds Adjudicator.
