FSCA Warnings
FSCA warns the public against FTO Capital
The Financial Sector Conduct Authority (FSCA) would like to warn the public not to conduct financial services business with FTO Capital.
It has been brought to the attention of the FSCA that FTO Capital (an entity operating a forex trading platform, and which is registered in the Republic of Marsha Island) has been soliciting and rendering financial services to clients based in South Africa.
FTO Capital is not authorised as a financial services provider and is not a representative of an authorised financial services provider. Persons rendering financial services without a licence or without being appointed as representatives are acting in contravention of the Financial Advisory and Intermediary Services Act, 37 of 2002. Such contravention is an offence which carries a fine not exceeding R10 million or period of imprisonment not exceeding 10 years.
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 (0800110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.
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FSCA warns the public against entity purporting to be Fairtree Capital
The Financial Sector Conduct Authority (FSCA) warns the public to take caution when dealing with an entity purporting to be Fairtree Capital.
According to information received the website of the said entity advertises the provision of financial services to members of the public under the name of Fairtree Capital. From the contents of the website, it seems that the owner or controller of the website is fraudulently attempting to lure the public into depositing funds for untoward and/or unlawful purposes.
Fairtree Capital is an authorised financial services provider with FSP number 25917. It was confirmed that the authorised Fairtree Capital do not have any affiliation with the mentioned website. No other company is registered with the FSCA under the same name. The owner or controller of the website is unlawfully using the identity of Fairtree Capital.
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.
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FSCA warns the public against Global Trading Solutions and Mr Ryan Venter
The Financial Sector Conduct Authority (FSCA) would like to warn the public not to conduct financial services business with Global Trading Solutions and Mr Ryan Venter.
It has been brought to the attention of the FSCA that Global Trading Solutions and Mr Ryan Venter have been claiming to be associated with True North Capital Management (Pty) Ltd (an authorised Financial Services Provider), when interacting with clients, creating an impression that they (Global Trading Solutions and Mr Ryan Venter) are affiliated/authorised by the FSCA to render financial services. True North Capital Management (Pty) Ltd has informed the FSCA that it neither has any relationship with, nor authorised the use of its business information by Global Trading Solutions and Mr Ryan Venter.
Global Trading Solutions and Mr Ryan Venter are not authorised as financial services providers and are not representatives of any authorised financial services provider. Persons rendering financial services without a licence or without being appointed as representatives are acting in contravention of the Financial Advisory and Intermediary Services Act, 37 of 2002. Such contravention is an offence which carries a fine not exceeding R10 million or period of imprisonment not exceeding 10 years.
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 (0800110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.
