KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL
FANews
FANews
RELATED CATEGORIES

FSCA issues public warning against Scotty’s Funeral Parlour

17 February 2021 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Scotty’s Funeral Parlour. The FSCA suspects Scotty’s Funeral Parlour of conducting unauthorised financial services business and breaching various financial sector laws.

The FSCA received information that Scotty’s Funeral is conducting insurance business without an Underwriter. The FSCA confirms that Scotty’s Funeral Parlour is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render financial advisory and intermediary services.

Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide. There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature. 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 110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.

Quick Polls

QUESTION

The Budget Speech 2021...

ANSWER

Certainly taxpayer-friendly, with tax increases being kept to a minimum
Realistic and in accordance with my expectation
Is welcomed news and will go a long way to bolster the economy and South Africa
I have mixed feelings… cutbacks and reprioritisations in government spending pose a significant risk and will come at a cost
Oh no! What about our booze and tobacco! Higher sin taxes
fanews magazine
FAnews February 2021 Get the latest issue of FAnews

This month's headlines

FNA VS Compliance: Advisers still tripping up on section 8(1) of the Code!
Taking the lessons of 2020, into 2021
Motor insurers take note: Replacement parts cannot compromise an insured’s safety!
The broker’s dilemma: Courts lambaste non-life insures for business interruption shortcomings
Leading experts warn the world about the dangers ahead
The world of work 2021… smarter, faster, simpler
Trends that will shape the life insurance industry going forward
Subscribe now