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Update on Licenses for Financial Services Providers

06 June 2007

Financial Services Board (FSB) deputy executive officer for Market Conduct and Consumer Education, Gerry Anderson says that steady progress is continuing to be maintained in the finalisation of applications received from Financial Services Providers (FSPs) for authorisation.

To date the FSB has finalised 15 934 (previously - 15 630) applications.

In total, 1 183 of these applications have been declined (previously 1 090). 

The details of the 93 applications representing these declines are as follows:

FSP NO. NAME
1 18000 Near North Investment CC
    Pinetown, Kwa Zulu Natal
2 20208 Jean Lategan Strydom
    Kosmosdal, Gauteng
3 23483 Cassure Brokers (Pty) Ltd
    Midrand, Gauteng
4 26504 Queen Martha Masuku
    Tshiawelo, Gauteng
5 8999 Namakwalandse Landboukooperasie CC
    Vredendal, Western Cape 
6 11431 Mcoyi Funeral Business CC
    Durban, Kwa Zulu Natal
7 18063 Oyama Funeral Service CC
    Randburg, Gauteng
8 18573 Christian Family Funerals
    Grassy Park, Western Cape
9 19730 Rapitsi Financial Solutions trading as 
  Rapitsi Financial Solutions
    Polokwane, Pietersburg, Limpopo
10 21689 Dustin Strever trading as 
  Asset Management and Structuring Solutions
    Bloubosrand, Gauteng
11 21916 Ncedile Nelson Ntsibantu trading as Nelvat
    Umtata, Eastern Cape  
12 21919 Mokopane Consulting (Pty) Ltd trading 
  Mokopane Consulting (Pty) Ltd
    Mokopane, Potgietersrus, Limpopo
13 22999 Megnath trading as Up Country Cars Sales
    Umhlanga Ridge, Kwa Zulu Natal
14 24998 Athlone Church of Christ Burial Fund
    Athlone, Western Cape
15 25157 Shafee Amod trading as Shafee Amod Brokers
    Durban, Kwa Zulu Natal
16 25538 MME Funeral Services CC
    Tzaneen, Limpopo
17 25543 Siyakhula Brokerage CC
    Kempton Park, Gauteng
18 25674 The Modern Portfolio Company (Pty) Ltd
    Johannesburg, Gauteng
19 26129 Leope Nixson Mohlala trading as Healt Care Advisors
    Motetema Township, Mpumalanga
20 26250 Top Class Insurance Brokers
    Port Shepstone, Kwazulu Natal
21 26389 Anna Cathrina Hall trading as Westhof
    Garsfontein, Pretoria, Gauteng
22 26538 Mackson Nkosinathi Xaki trading as 
  Nandi Brokers
    Protea Glen, Gauteng
23 28248 Midbay Motors (Pty) Ltd trading as 
  Midbay Motors (Pty) Ltd
    Empangeni, Kwa Zulu Natal
24 28647 Medqure CC
    Port Elizabeth, Eastern Cape
25 1767 Mbali Trust Services (Pty) Ltd
    Houghton, Gauteng
26 1877 Evolver Financial Services CC
    Cresta, Gauteng
27 6012 Sandile Solombela trading as 
  Boung for Gold Insurance Brokers
    Pretoria West, Pretoria, Gauteng
28 12066 Robert Bernard Goliath trading as
   Bob's Funeral Services
    Peerless Park West, Western Cape
29 12159 Llewellyn van Rensburg Architectural Consultant
    Gansbaai, Western Cape 
30 14926 Imanelle Funeral Services trading as
   Imanuelle Funeral Services
    Warrenton, Stanger, Kwazulu Natal
31 20901 Gugulethu Cape Consultancy CC
    Cape Town, Western Cape
32 21082 Jhansi Investments CC trading as 
  Hiralal Insurance Brokers
    Durban, Kwa Zulu Natal
33 21238 Ashanti Administrators CC
    Klerksdorp, North West Province
34 21329 Monnakgotla Funeral and Insurance Brokers CC
    Kagiso, Gauteng
35 21958 Thabo Njabulo Nxumalo trading as 
  Thabo Njabulo Nxumalo
    Stanger, Kwa Zulu Natal
36 22071 Mandla Sibaya trading as Mandla Sibaya
    Ngingindlovu, Kwa Zulu Natal
37 22147 Job's Funeral Home CC
    Komga, Eastern Cape 
38 22326 Gruss Katz trading Gruss Katz
    Cape Town, Western Cape
39 22833 Norman W Keel trading as Norman W Keel
    Bryanston, Gauteng
40 23191 Kitts Mageza and Associates CC trading as 
  Mageza Funeral Directors
    Orlando, Gauteng
41 23524 Goodnews Family Funeral Brokers CC
    East London, Eastern Cape
42 23983 Fimeral Brokers and Catering Services CC
    Mabopane, Gauteng
43 24219 Derick Albertus Hanekom trading as
   DA Hanekom Brokers
    Hermanus, Western Cape
44 24296 Mawabo Mahlaza
    Parow, Western Cape
45 24387 B.S Shandu
    Matsulu, Nelspruit, Mpumulanga 
46 24477 Thandinkosi Funeral Parlour
    Ngingindlovu, Kwa Zulu Natal
47 24484 Yusuf Oswald Zifungo trading as Otto Brokers
    Kuruman, Northern Cape 
48 24512 Mario's Brothers Funeral Directors CC
    Turfontein, Gauteng
49 24972 Spoon Financial Services (Pty) Ltd trading as 
  Spoon Financial Services (Pty) Ltd
    Polokwane, Limpopo
50 25413 N-Cee Brokers
    Paarlshoop, Gauteng
51 25704 Eagle Forex Managers (Pty) Ltd trading as 
  Eagle Forex Managers (Pty) Ltd
    Bryanston, Gauteng
52 25706 Eagle Forex Investments (Pty) Ltd
    Bryanston, Gauteng
53 25748 Povco Investments CC
    Durban, Kwa Zulu Natal
54 25846 Netrac Investments 102 (Pty) Ltd
    Randfontein, Gauteng
55 26117 MKM Brokerage trading as MKM Brokerage
    Mamelodi East, Gauteng
56 26137 Shongwe Investments
    Johannesburg, Gauteng 
57 26345 African Legal Networks (Pty) Ltd
    Wierda Park South, Pretoria, Gauteng
58 26364 Othusitse Banyatsi
    Ratshidi, Mafikeng, North West Province 
59 26545 NC Financial Services CC
    Umtata, Eastern Cape
60 26716 Pierre Vos trading as Leisure Land Auto
    Tygerpark, Western Cape
61 26739 Red Road Trading 120 CC trading as 45 Cars
    Cape Town, Western Cape
62 26748 Westroute Trading 176 CC trading as 
Jacobs Auto
  Milnerton, Western Cape
63 26827 Premosa Financial Services CC
    Klerksdorp, North West Province
64 26926 Auction Finance (Pty) Ltd
    Halfway House, Gauteng
65 26940 Ellias Langa trading as 
  Sun Insurance Brokers
    Empangeni Rail, Kwa Zulu Natal
66 26949 Absolut Valu (Pty) Limited
    Cape Town, Western Cape
67 27105 Brisk Investments (Pty) Ltd trading as 
  Nissan Renault
    Winklespruit, Kwa Zulu Natal
68 27140 Thembelehle Funeral Parlour CC trading as 
  Thembelehle Funeral Homes
    Thembisa, Gauteng
69 27148 Mandla Admire Khumalo trading
   Mandla Khumalo
    Alexandra, Gauteng
70 27160 PFS CC
    Witbank, Mpumalanga
71 27328 Minga Dungi Investment Holdings CC
    Giyani, Limpopo
72 27484 Ratanga Travel and Tours CC trading as
   Ratanga Funeral Scheme
    Ozwatini, Kwa Zulu Natal
73 27505 Sebe Financials CC trading as
   Sebe Financials (CC)
    Dawn Park, Gauteng
74 27699 Rhweba Trading 1045 CC 
    Idutywa, Eastern Cape
75 27719 Patrick Eke Brokers Short Term CC
    Emerald Hill, Eastern Cape 
76 27857 Jacobs & Sons Insurance and
   Investment Consultants CC 
    Aston Manor, Gauteng
77 27999 Bongani Alfred Hlophe trading Samela Brokers
    Pietermaritzburg, Kwa Zulu Natal
78 28007 Kewuti Finance Services CC
    Milnerton, Western Cape
79 28212 Amakha Funeral Services CC trading as 
  Amakha Funeral Services
    Mhluzi, Mpumalanga
80 28227 Blue Chameleon Investment 64 (Pty) Ltd
    Giyani, Limpopo
81 28290 Jacoba Marthie Greyling trading as 
  Exselaor Burial Society
    Excelsior, Free State
82 28321 Byron Anthony Green
    Sandton, Gauteng
83 28543 Diale Funeral Parlour CC
    Mohlakeng, Gauteng
84 28789 New Approach 21 CC trading as
   Metro Cars
    Bellville, Western Cape
85 28840 Asazi Funeral Parlour
    Deneysville, Free State
86 28891 Supersize Investments 28 CC
    Benoni, Gauteng
87 29026 Nombulelo Mildred Ngoqo
    PO Chiawelo, Gauteng
88 29433 Das & Das Funeral Service CC trading as
   D & D Funeral Service
    Sinoville, Gauteng
89 13047 Prontuit Beleggings 3 (Pty) Ltd
    Bloemfontein, Free State
90 24510 Mathari Funeral Parlour CC
    Bolobedu, Limpopo
91 25058 Lezmin 1090 CC trading as Autowest
    Vredenburg, Western Cape 
92 25072 WW Irrefutable Creations
    Bedford Gardens, Gauteng
93 26436 Leoair Nelspruit (Pty) Ltd trading as
   Leoair Insurance Brokers Nelspruit
    Nelspruit, Mpumalanga
The following FSP licenses have been withdrawn:
FSP NO. NAME
  9865 Southern Broking Services CC
    Glenvista, Johannesburg, Gauteng
  13968 Entegra Trust (Pty) Ltd
    Centurion, Pretoria, Gauteng
  23663 S'Phesihle Cleaning and Construction CC
    Umlazi, Kwa Zulu Natal
The following FSP license has been provisionally suspended:
  FSP NO. NAME
  23975 National Alliance of Preferred Provider 
  Organisation Networks (Pty) Ltd trading as Nappo SA
    Lyme Park, Johannesburg, Gauteng

Anderson adds, "FSP's whose applications had been unsuccessful, withdrawn or suspended are entitled to appeal to the FSB Appeal Board, an independent tribunal, if the applicant is dissatisfied with the decision taken by the Registrar".

Quick Polls

QUESTION

The latest salvo in the active versus passive debate suggests that passive has an edge in highly efficient markets, or where the share universe is relatively small. In this context, how do you approach SA Equity investing?

ANSWER

Active always, the experts know best
Active, but favour the smaller funds
Passive for the win
Strike a balance between the two
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