The Financial Sector Conduct Authority (FSCA) cautions the public against doing any financial services business with Matshego Funeral Services (Pty) Ltd (“Matshego Funeral”) which operates in the area of Hammanskraal, Gauteng.
According to the information received by the FSCA, Matshego Funerals offers funeral policies to members of the public. Members of the public pay premiums directly to Matshego, however, when clients lodge funeral cover claims with Matshego Funerals, Matshego Funerals promises to pay but in the end, does not pay.
The FSCA confirms Matshego Funeral is not authorised to render any financial services. Attempts to get hold of Matshego Funeral were unsuccessful.
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 financial services it is that the entity is registered to provide. Also of concern are the 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 reminds customers 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 https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.
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