Clientèle Life employee debarred after misleading woman seeking loan into taking funeral policy
The Financial Services Tribunal upheld the debarment of a former Clientèle Life consultant after finding that he failed to make clear that a sales call concerned a funeral policy, not a loan.
A former Clientèle Life Assurance sales consultant, Keamogetswe Khanya Nkosi, has been permanently barred from providing financial services after misleading a client into enrolling for a funeral policy instead of a loan. The Financial Services Tribunal dismissed Nkosi's appeal to reconsider his debarment, finding his actions to be improper and dishonest.
During a telephone conversation in April 2026, Nkosi told the client she was applying for a loan, when in fact she was signing up for a funeral policy. He failed to inform her of this discrepancy or disclose important details about the policy. Nkosi was found guilty of "seriously dishonest practice" and terminated from his position.
Despite contesting the decision, the tribunal concluded that Nkosi had not provided a viable defense, and his debarment decision stood.
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