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FSCA warns the public against FLF Global & Mr Ashirus Monhla

29 March 2021 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 FLF Global (Pty) Ltd (FLF Global) and Mr Ashirus Tebatso Monhla (Monhla).

FLF Global and Monhla are 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 there is a person by the name of Tebatso Ashirus Monhla purporting to represent a company named FLF Global, also trading as Investounitrade. FLF Global and Monhla accept deposits from members of the public and offer to trade forex on their behalf to earn a profit. It is the FSCA’s view that the abovementioned entity and person are conducting unregistered business and 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 www.fsca.co.za as to whether or not such institution or person is authorised to render financial service.

Quick Polls

QUESTION

Covid-19 may accelerate certain industry trends. What are we likely to see?

ANSWER

Adoption of contactless technologies and digital experiences will likely be accelerating emerging technologies further
The consumer will expect safety and precautionary measures, driving the need for enhanced surveillance policies and technologies, which may pose potential privacy concerns
Rising activism among consumers and employees could drive an increased focus on corporate purpose
Value chain disruption is likely to lead to an increase in creative partnerships, which may in turn cause organisations to further invest in developing the mindset and agility to collaborate across sectors in the ecosystem
Cost management will be a critical priority to ensure business continuity based on cash flow requirements, to manage lower margins and revenues during a downturn
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