STANLIB REJECTION NOTICE

I have had a personal UT investment with Stanlib for around 30 years, and another business UT investment for around 12 years or longer. On 25 June 2021 I performed an online repurchase of some units on my business account. No flags were raised. On 26 June 2021 I received a communication from Stanlib requesting as to whether this withdrawal was once-off or recurring - which I promptly responded to. Again, no flags or queries were raised. At close of business yesterday, 29 June, I received a 'CLIENT REJECTION' email to inform me that FICA obligations were required - 4 days after the fact and with no prior notification of any FICA obligations. The practice of holding a client to ransom when he/she wants to withdraw his/her funds is a deplorable practice. The practice of accepting deposits without notifying a client of so-called outstanding FICA requirements, but being satisfied to wait until a client requires his/her funds when there are supposed outstanding FICA requirements, knowing that this will delay the client's access to those funds upon repurchase, is a further despicable practice. I will approach the FIC to ascertain as to when my Stanlib FICA obligations became due, whereafter I will approach the relevant ombud regarding Stanlib's acceptance of deposits when/if the account should have been restricted. In the interim I have made full repurchase of all investments with Stanlib. Adios - until we meet again around a formal regulatory complaint.