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<\/p>\n<\/p>\n
SA’s financial regulator has warned the public against investing with 14 people or companies offering financial services without licences.<\/p>\n
Almost all claim to be able to provide unrealistic returns to investors.<\/p>\n
“None of the entities or persons [\u2026] are licensed or authorised under any financial sector law to provide financial products or financial services in South Africa,” the Financial Sector Conduct Authority (FSCA) said.<\/p>\n
“To avoid unnecessary risk, the public should not accept any financial advice, assistance or investment offers from persons who are not authorised by the FSCA to conduct financial services.”<\/p>\n
The entities are:<\/p>\n
1. Forex Royals<\/p>\n
2. Forex Trading Investment Company<\/p>\n
3. Mr Marshall Ndou (Ndou) and EmpireFX_Nasdaq<\/p>\n
4. Forex Trading Investment Platform<\/p>\n
5. SkyMt6. Dr Nomalizo Tefu and Reannex Investments<\/p>\n
7. UniqueMarket24<\/p>\n
8. Mr Sisipho Buthelezi (Buthelezi), also operating under the alias Sisipho Investment<\/p>\n
9. News24 Trading Investment<\/p>\n
10. Mr Ruan Erasmus<\/p>\n
11. RL Consortium (Pty) Ltd<\/p>\n
12. Mr Yoel Spector (purporting to be an authorised financial services provider, with FSP number 34185)<\/p>\n
13. Power Guarantees (Pty) Ltd<\/p>\n
14. Mr Chad Broadbent and Phoenix Forex.<\/p>\n
Ishmet Davidson, the CEO of Media24, said neither Media24 nor News24 have any ties or association with News24 Trading Investment.<\/p>\n
“Media24 has launched an investigation into a potential trademark infringement by News24 Trading Investment,” he added.<\/p>\n
The FSCA said the number of fraudsters operating scams in South Africa is growing.<\/p>\n
“The public is advised to be on the lookout for the tell-tale danger signs when dealing with persons offering attractive investment opportunities,” it said.<\/p>\n
Reg flags include:<\/p>\n
SA’s financial regulator has warned the public against investing with 14 people or companies offering financial services without licences. Almost all claim to be able…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1668","post","type-post","status-publish","format-standard","hentry","category-innov8ions"],"_links":{"self":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/comments?post=1668"}],"version-history":[{"count":2,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1668\/revisions"}],"predecessor-version":[{"id":1671,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1668\/revisions\/1671"}],"wp:attachment":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/media?parent=1668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/categories?post=1668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/tags?post=1668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}