Registrar of Financial Services providers (“the Registrar”) has on 26 April 2017 withdrew the licence of Clivera Consulting and debarred its director Mr Phelegetso Ramathibela from rendering financial services as contemplated in the Financial Advisory and Intermediary Services Act 37 of 2002 (“the FAIS Act”).
The Registrar’s decision as mentioned above, was made after an investigation that was conducted by the Financial Services Board (“FSB”) on Clivera Consulting and Mr Phelegetso Ramathibela following complaints that were received from the clients of Clivera Consulting. The effect of the Registrar’s decision is that Clivera Consulting and Mr Phelegetso Ramathibela are prohibited from rendering any financial services as contemplated in the FAIS Act.
The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.
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