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The FSB has today approved the first collective investment schemes in hedge funds. The schemes, one a Qualified Investor Hedge Fund (QIHF) and the other a Retail Investor Hedge Fund (RIHF), are registered under the Novare Collective Investments management company.
The Financial Services Board (FSB) has noted recent claims that an entity called Wealth Migrate holds an FSB licence.
The Financial Services Board (FSB) warns the public to act with caution when dealing with Broker Capital, an entity which is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services in South Africa.
The Financial Services Board will be in Soweto in October as part of its effort to take its regulatory functions to the public.
The strongest deterrent against FSP compliance missteps is or should be: