11 Nov 2019
FSCA fines Channel Life
By Janice Roberts
The Financial Sector Conduct Authority (FSCA) has fined Channel Life Limited a total of R550 000 and has ordered that compensation be paid to affected policyholders The FSCA imposed an administrative penalty of R300 000 on Channel Life for contravening section 53 (2) of the Longterm Insurance Act, 52 of 1998 (LTIA) and R250 000...
