The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Discovery Online Trade Plus (Discovery Plus).
It has come to the FSCA’s attention that Discovery Plus is purporting to be an authorised financial services provider (FSP). Discovery Plus is using the FSP number of Gikuyu Brokers Investments (Pty) Ltd (Giyuku Brokers) to promote and solicit investments from the public. Discovery Plus used FSP number 51424 in its communications with potential investors.
Giyuku Brokers confirmed that it is not associated with Discovery Plus. Without commenting on the business of Discovery Plus, the FSCA confirms that Discovery Plus is not authorised by it to provide financial services to members of the public. The FSCA was unable to contact Discovery Plus, there were no contact details available for it.
To avoid unnecessary risk, the public should not accept financial advice, assistance, or investment offers from individuals or entities that are not authorised by the FSCA.
Authorised financial services providers must clearly display their authorisation status in their documentation. If this is not present, it is advised to further investigate before making any payments.