FSB warns the public against Arion Loan (Pty)

The Financial Services Board (FSB) warns the public to act with caution when dealing with Arion Loan (Pty), an entity purporting to be registered as a financial services provider, and its agents.

Arion Loan (Pty) is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.

The FSB has received information that Arion Loan (Pty) is using a fake FSB certificate to dupe the public into believing that it is a registered FSP and provide financial services illegally.

The copies of the certificate shown to unsuspecting members of the public are faked from the original certificate of Africa Vukani Investment Management Services (Pty) Ltd – FSP 691 – with its name replaced by Arion Loan (Pty).

Arica Vukani Investment Management Services (Pty) Ltd FSP 691 is authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render financial advice and intermediary services.

Africa Vukani Investment Management Services (Pty) Ltd has indicated to the FSB that it has no connection whatsoever with Arion Loan (Pty).

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 (0800 110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.