FANews
FANews
RELATED CATEGORIES

FSCA warns the public against Ubuntu Society Forex Trading

17 September 2019 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with an entity called Ubuntu Society Forex Trading, which is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.

It was brought to the attention of the FSCA that Ubuntu Society Forex Trading purports to be authorised financial services providers when that is not the case. According to the FSCA’s records, Ubuntu Society Forex Trading is not an authorised financial services provider or a juristic representative, therefore, it should not render financial services to members of the public as contemplated under the FAIS Act.

The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 203 722) or on the website www.fsca.co.za as to whether such institution or person is authorised to render financial services as well as for which services they are authorised.

Quick Polls

QUESTION

Is 30 the new 65?

ANSWER

Yes, it is becoming inevitable that retirees need to save for a 30 year time horizon when it comes to retirement
No, why change a model that has been working for many years
At least if a retiree reinvests their pot of cash compound interest will resolve the longevity problem
A E fanews magazine
FAnews August 2019 Get the latest issue of FAnews

This month's headlines

Create designer policies through AI
Are advisers in a precarious position?
A claim, COIDA and a dog bite
Non-disclosure never an innocent fraud
Prescribed assets: The threat to pensions
Cannabis and the issue of trust
Getting the most from disability claims
Subscribe now