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The Financial Sector Conduct Authority (FSCA) has provisionally withdrawn the licence of FXNovus (Pty) Ltd FSP 50963 (FXNovus). The FSCA is concerned that there is a real risk of harm to clients and/or the general public if FXNovus continues its operations as a financial services provider. The provisional withdrawal is based on preliminary investigation findings …
The Financial Sector Conduct Authority (FSCA) has provisionally withdrawn the licence of The Grand Trading (Pty) Ltd FSP 53871 (The Grand Trading). The FSCA is concerned that there is a real risk of harm to clients and/or the general public if The Grand Trading continues its operations as a financial services provider. The provisional withdrawal …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Eklavya Asset Managers (Pty) Ltd (Eklavya), FSP 45583, Solis Markets, and the relevant key persons. The investigation was initiated following information received by the FSCA alleging that the investigated parties had failed to process client requests for the withdrawal of funds. The investigation uncovered …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Astrix Data (Pty) Ltd (Astrix), FSP 45583, currently known as IGM Financial Services (Pty) Ltd (IGM), Vector Financial Services (Pty) Ltd (Vector), Finbok and the relevant key persons. The investigation was initiated following information received by the FSCA alleging that the investigated parties were …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Mr Martin James Kift (Kift) and Kift Wealth (Pty) Ltd FSP 49396 (Kift Wealth). The investigation was instructed pursuant to a report that was submitted to the FSCA by Kift and Kift Wealth in which they admitted to certain breaches of financial sector laws. …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Quilta FX Trade (Quilta FX). It has come to the FSCA’s attention that Quilta FX is purporting to be an authorised financial service provider (FSP). Quilta FX is offering to trade in Bitcoin and other crypto assets. …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Maivest. The FSCA received information that Maivest is offering members of the public investment opportunities, copy trading services, referral rewards, and team-based incentives through its online platform. Without commenting on the business of Maivest, the FSCA confirms …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Credora FX. The FSCA received information that Credora FX, through its website https://credorafx.com, is soliciting funds from members of the public for investment purposes. Without commenting on the business of Credora FX, the FSCA confirms that Credora …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Ampfa. It has come to the FSCA’s attention that Ampfa is soliciting funds from members of the public for forex trading purposes and for a trading robot. Ampfa offers to trade on behalf of members of the …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with BorneMX Market (BorneMX). It has come to the FSCA’s attention that BorneMX is purporting to be affiliated with Tickmill South Africa (Pty) Ltd (Tickmill) an authorised financial services provider (FSP No. 49464). BorneMX is offering trading in …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with DAO1. The FSCA received information that DAO1 is soliciting funds from members of the public for investment in cryptocurrency and trading purposes. Without commenting on the business of DAO1, the FSCA confirms that DAO1 is not authorised …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with an individual(s) using the name Mr Fernando Bustamante (Mr Bustamante) and purporting to be associated with JME Financial Services (Pty) Ltd (JME Financial) t/a ZA.Capex.com, FSP number 37166 and Key Way Investments Limited (Key Way Investments), FSP …
On 12 March 2024, the Financial Sector Conduct Authority (FSCA): imposed an administrative penalty of R15 065 852 million on My Wealth Dias (penalty); and debarred Mr Coetzee for a period of twenty years (debarment). The FSCA took the aforementioned decisions following an investigation which revealed, amongst others, that: My Wealth Dias contravened section 11(1) …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with persons purporting to be associated with Rand Merchant Bank FSP number 664. It has come to the FSCA’s attention that individuals using the names “Ayanda and Noah” are using the name and FSP number of Rand Merchant …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Ms Dineo Zama and Trillionaire Forex Institution. The FSCA received information that Ms Dineo Zama and Trillionaire Forex Institution are soliciting funds from members of the public for trading purposes Without commenting on the business of Ms …
The FSCA takes regulatory action against senior officers of Altvest Limited (now listed on the JSE and A2X under the name of Africa Bitcoin Corporation Limited) in respect of transactions in Alvest Limited shares The regulatory actions follow an investigation conducted by the Financial Sector Conduct Authority (FSCA), which found that between 5 and 8 …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with BSM Financial Solutions. The FSCA received information that BSM Financial Solutions are offering financial advice to the members of the public. Without commenting on the business BSM Financial Solutions, the FSCA confirms that BSM Financial Solutions are …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals impersonating Citadel Investment Services (Pty) Ltd (Citadel Investment Services), an authorised Financial Services Provider (FSP) (FSP 547). It has come to the FSCA’s attention that individuals are using Telegram to impersonate Citadel Investment Services. The impersonators …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals purporting to be associated with First Equity Insurance Group, a brand grouping for the following Financial Services Providers (FSPs): African Risk Transfer (Pty) Ltd (FSP No. 9378); Everything Insure Digital Intermediaries (Pty) Ltd (FSP No. 21271); …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals purporting to be associated with Just Global Markets (Pty) Ltd (JustMarkets), an authorised Financial Services Provider (FSP) (FSP 51114). It has come to the FSCA’s attention that individuals are impersonating JustMarkets on the WhatsApp platform to …