FANews
FANews
RELATED CATEGORIES

FSB warns the public against Millenniums Financial Services

06 April 2016 FSB

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

Millenniums Financial Services CC 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 Millenniums Financial Services CC 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 are faked from the original certificate of Econorisk Administration Services (Pty) Ltd – FSP 24171 – with its name replaced by Millenniums Financial Services CC.

Econorisk Administration Services (Pty) Ltd is authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render financial advice and intermediary services.

Econorisk Administration Services (Pty) has indicated to the FSB that it has no connection whatsoever with Millenniums Financial Services CC.

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.

Quick Polls

QUESTION

The shocking crime and motor vehicle accident statistics shared during a recent SHA presentation suggests that group personal accident and personal accident cover are a no-brainer. Do you agree?

ANSWER

Yes
No
Not sure
fanews magazine
FAnews April 2024 Get the latest issue of FAnews

This month's headlines

FAIS Ombud lashes broker for multiple compliance blunders
TCF… a regulatory misfit initiative?
The impact of NHI on medical malpractice insurance
Fixed versus variable: can you have your cake and eat it too?
The future world of work
Subscribe now