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FSCA warns the public against Ashley Rix

24 June 2020 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with Ashley Rix. This individual 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 FSCA received information that Ashley Rix offers Forex trading services to his clients and promises high returns on their investments, which do not materialise. It is the FSCA’s view that Ashley Rix is conducting unregistered business as he is providing advisory and intermediary services without the necessary authorisation.

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 https://www.fsca.co.za/Fais/Search_FSP.htm as to whether or not such institution or person is authorised to render financial services.

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