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FSB warns about Matshidiso Funeral Scheme, Blue Dot Funeral Home

26 August 2009 Financial Services Board (FSB)

The Financial Services Board (FSB) says you must be cautious when dealing with Matshidiso Funeral Scheme (Matshidiso) which operates in North West.

Matshidiso was authorized (FSP: 19584) in terms of section 7 of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render advice and intermediary services in respect of the product Long Term Insurance Category A (funeral policies). Matshidiso’s key individual is Lucas Gadibolae Nganga.

Matshidiso’s FAIS licence was withdrawn on 6 May 2009 and he was debarred for a period of five years from applying for a new licence. The withdrawal of authorization follows an investigation into the affairs of Matshidiso by the Registrar of Financial Services Providers (the Registrar). Matshidiso lodged an appeal against the Registrar’s decision on 3 June 2009. In terms of the provisions of section 26 of the Financial Services Board Act, 1990 the appeal did not suspend the withdrawal of Matshidiso’s licence.

It has since come to the Registrar’s attention that Matshidiso is still rendering financial services without the required authorization. Matshidiso and or its key individual might also be doing unregistered business under the name Blue Dot Funeral Home from the same premises.

Matshidiso Funeral Scheme was conducting business from the following addresses:

Mafikeng: Itsoseng: Vryburg:

Galleria Arcade Mangope High 138 Market Street

No 13 Martin Street No 3684 Zone 3 Vryburg

Mafikeng Itsoseng Las Vegas Hse

Zeerust: Delareyville:

Anina’s Complex General Delarey Street

Shop No 3 Delareyville

9 Voortrekker Street

Zeerust

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