FSCA warns the public against Quantlio Investments

15 July 2021 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when doing any financial services business with Quantlio Investments. Quantlio is suspected of breaching several South African financial sector laws, including falsely impersonating an authorised financial services provider (FSP) and rendering unauthorised financial services.

At this point, very little is known about Quantlio or the nature of its operations. From Quantlio’s website it appears that it is operating from Canada and South Africa. The FSCA points out that the business address in South Africa that is reflecting on Quantlio’s website is false.

Additionally, Quantlio claims on its website that it is in partnership with a South African company that is an authorised FSP - this claim is also false. The published licence lapsed on 21 September 2020 and Quantlio is not an authorised FSP or a juristic representative of that FSP.

It also appears that Quantlio provides a trading platform which offers investments in stocks and cryptocurrencies, as well as trading in Contracts for Differences (CFDs). The FSCA wishes to inform the public that Quantlio is not authorised to trade in CFDs or to provide any financial advisory & intermediary services in South Africa as defined and contemplated in any of the relevant financial sector laws. Quantlio is publishing false information on its website for the purposes of misleading unsuspecting investors. Extreme caution is advised.

Should you have had or are currently engaging with Quantlio, please contact the FSCA with information and details of your transactions to enable the FSCA to assess the matter and provide further action if necessary.

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. 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 whether such institution or person is authorised to render financial services.

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