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FSCA issues public warning against Naledi Funerals

15 September 2020 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with NHM Funeral Services trading as Naledi Funerals. The FSCA suspects Naledi Funerals of conducting unauthorised financial services business and breaching various financial sector laws.

Policyholders benefit from R230 billion in claims and benefit payments during Covid-19

15 September 2020 | Association for Savings & Investment SA (ASISA)

South African life insurers provided more than 458 000 policyholders with premium relief assistance to the value of over R1 billion between March and July this year, in an effort to help policyholders whose earnings were impacted by the Covid-19 lockdown preserve their risk cover and savings policies.

FSCA warns the public against Mr. Timmy Thomas Madindo

15 September 2020 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial business with Amen Forex Michael which is owned by Mr. Timmy Thomas Madindo. Mr. Timmy Thomas Madindo is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”) to render any financial advice and/or intermediary services.

FSCA warns the public against Daily Double Trading (Pty) Ltd

15 September 2020 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial business with Daily Double Trading (Pty) Ltd. Daily Double Trading (Pty) Ltd 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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