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

FANews
FANews
RELATED CATEGORIES

FSCA warns the public against Karatbars International GmbH

12 November 2019 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) would like to warn the public not to deal with an entity called Karatbars International GmbH. Karatbars International GmbH 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 was informed that Karatbars International GmbH has been offering investments to customers via WhatsApp. Karatbars International GmbH is based in Germany and is not authorised to render financial advice and intermediary services in South Africa.

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 www.fsca.co.za as to whether or not such institution or person is authorised to render financial services and the type of services which they are registered to perform.

Quick Polls

QUESTION

Many legacy RAs allow an insurer to take up to 30% of the accumulated capital upon early exit. “This is just one of countless examples of shocking product design that is 100% engineered by insurers to extract punitive fees from clients...".

ANSWER

Agree
Disagree
fanews magazine
FAnews June 2020 Get the latest issue of FAnews

This month's headlines

The crisis is not over
Ethics of lockdown - What value is attached to a human life?
Pandemic redefines the commercial and legal risk landscape
New partnerships needed to create an epidemic and pandemic risk programme
Credible statistics create much needed certainty
SA fixed income: Searching for value in a sea of pandemic risk
Subscribe now