The Financial Sector Conduct Authority (FSCA) hereby informs the public that it is currently conducting an investigation in respect of the persons listed below (investigated parties):
- Sanus Financial Services (Pty) Ltd (Sanus), trading as EZInvest and Financix; an authorised financial services provider (FSP) with FSP No. 51523;
- Ms Annette Smyth, the sole key individual for Sanus;
- Mr Nicolaas Louw, director of Sanus; and
- Mr Bradley Bickham Distras, director of Sanus.
Sanus is authorised to provide intermediary services in respect of derivative instruments and short-term deposits. According to Sanus, it renders intermediary services of access to trading platforms (EZInvest and Financix) which offer trading in derivative instruments. The FSCA received complaints from clients of the investigated parties. Given the serious nature and the number of complaints, the FSCA has decided to conduct a full investigation into the matter.
The purpose of the investigation is to establish whether the investigated parties contravened any financial sector laws, including section 7(1)(a) and 8A of the Financial Advisory and Intermediary Services Act No. 37 of 2002, various provisions of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003 and the Determination of Fit and Proper Requirements for Financial Services Providers, 2017, to name a few.
This should not be construed as a statement by the FSCA that the parties have contravened a financial sector law. The investigation is on-going and the FSCA emphasises that it has not made any findings yet. The FSCA will update the public on the outcome of the investigation in due course.