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FSCA warns the public against Sanele Forex Ngwenya Ngwenya

13 June 2019 FSCA

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial business with Sanele Forex Ngwenya Ngwenya.

It was brought to the attention of the FSCA that Sanele Forex Ngwenya Ngwenya is purporting to be an authorised Financial Services Provider (FSP) on their Facebook page. Additionally, Sanele Forex Ngwenya Ngwenya claims to be authorised under FSP number 16726. The above quoted FSP number belongs to Westwood Insurance Brokers (Pty) Ltd who have confirmed to the FSCA that they neither have any relationship with Sanele Forex Ngwenya Ngwenya, nor allowed them to use their FSP number.

According to the FSCA’s records, Sanele Forex Ngwenya Ngwenya is not an authorised FSP and is not a representative of an authorised FSP, therefore, they are not authorised to render financial services as contemplated in the FAIS Act.

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 203 722) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services as well as for which services they are authorised.

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The Financial Sector Conduct Authority (FSCA) released a notice extending the CPD cycle for 2018 until 31 July 2019. What is your opinion on this?

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