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FSB Warnings

13 February 2018FSB

FSB warns the public against Instant Group SA

The Financial Services Board (FSB) warns the public against conducting financial services business with Instant Group SA. Instant Group SA is not an authorised Financial Services Provider and the public is warned to exercise caution when dealing with this entity.

It has been brought to the Registrar’s attention that Instant Group SA purports to have been issued with the FSP Number 41456. The said FSP Number was a reference number allocated to Tara-Jane Metzler trading as Metsure Financial Services when it applied for a licence to conduct business as a financial services provider.

The Registrar rejected Tara-Jane Metzler trading as Metsure Financial Services’ application to conduct business as a financial services provider. Instant Group SA is not authorised to use the FSP number 41456.

The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.


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FSB warns the public against people purporting to be from Creative Investments Options

The Financial Services Board (FSB) would like to warn the public to act with caution when dealing with people purporting to be from “Creative Investments Options”. Creative Investment Options CC FSP 16399 is authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render financial advice and intermediary services.

The FSB received information that there is a person or persons contacting people, from a company named “Creative Investments Options”. These people contact prospective clients purporting to be from FSP 16399. These imposters offer people investments, promising them that they will receive 50% of their investment back in 2 weeks. We can confirm that there is an authorised financial services provider by the name of Creative Investment Options CC, FSP 16399; however this FSP has confirmed that no connection exists between them and these impostors offering such investment returns. It is the FSB’s view that the abovementioned people are using the authorised financial services providers’ name without authorisation.

The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800 110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.

Quick Polls

QUESTION

There may be a shock on the cards on 21 Feb when the Finance Minister announces that there will be a 2% VAT increase. What effects will this have?

ANSWER

It will generate the much needed tax revenue that government needs to address its widening budget deficit. It’s a good choice.
It will weaken the ANC. They rely on the poor vote and the poor will be most affected by the VAT increase. The ANC must tread carefully here.
There will be little change. It is just more money for government fat cats to pocket.
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