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The FSCA fines Steinhoff International Holdings N.V. (Steinhoff/the Company) for contravention of the Financial Markets Act

16 September 2019

The Financial Sector Conduct Authority (FSCA) has concluded its investigation into alleged contraventions of the Financial Markets Act No 19 of 2012 (FMA 2012) by the Steinhoff Group in the period prior to the discovery of significant accounting irregularities at the Company in December 2017.

FSCA warns consumers against Mashamba Asset Managers and Mzansi Platinum Cover

02 September 2019

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services-related business with the entities called Mashamba Asset Managers, Mzansi Platinum Cover and their director Jerifanos Mashamba (Mr Mashamba). Mr Mashamba and these two entities are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to furnish financial advice and render any intermediary services.

FSCA warns the public against Destinata 104 (Pty) Ltd and Wealth Solutions Investments & Development Partners

19 August 2019

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services with Destinata 104 (Pty) Ltd and Wealth Solutions Investments & Development Partners. The said entities are soliciting funds from members of the public by offering investments opportunities in the student accommodation sector. They promise a total net return of 230% on the investment.

FSCA warns the public against Guarantee Trust Fund (Pty) Ltd

13 August 2019

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Guarantee Trust Fund (Pty). Guarantee Trust Fund is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice and intermediary services.

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The strongest deterrent against FSP compliance missteps is or should be:

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A criminal conviction Debarment Fine or penalty Any of the above can work

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