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Court orders ex-Nedbank adviser to delete confidential client data

Published

The Western Cape High Court found that Deon Smit used information from his time at Nedbank to approach clients and win their business. It also barred him from suggesting he is still linked to the bank.

Judge Mangcu-Lockwood ordered Smit to return hard copy records and delete protected information within 10 days. He must file an affidavit within 15 days to confirm this. He must also pay Nedbank's legal costs.

Nedbank dismissed Smit on 1 December 2022 for dishonest conduct. He joined Equi Pro Wealth in July 2024. Nedbank sent him a cease-and-desist letter on 6 September 2024 and reported his conduct to the Financial Sector Conduct Authority on 14 November 2024.

The court said Smit's conduct threatened clients' privacy and the bank's business interests. It said the public needed protection, including vulnerable and elderly people who could be targeted. Smit alleged the complaints against him were manufactured or prompted by bias, but the judge rejected this challenge.

Key facts

Who
Deon Smit (Former Nedbank financial adviser, respondent in the case, now a representative…); Judge Mangcu-Lockwood (Judge who handed down the judgment in the Western Cape High Court); Nedbank (Applicant; bank whose confidential client information was misused); Equi Pro Wealth (Financial services provider Smit joined in July 2024)
What
The court found Smit used information from his former employment at Nedbank to approach clients and solicit their business. He was ordered to return hard copy records, delete protected information within 10 days, file an affidavit within 15 days, and pay Nedbank's legal costs.
When
27 October 2026
Where
Western Cape, South Africa
Status
Reported

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