Johannesburg – The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Forex Successful Investors and Sibusiso Mgedezi.
The FSCA suspects Forex Successful Investors and Mgedezi of conducting unauthorised financial services business and breaching various financial sector laws.
It has been alleged that Forex Successful Investors and Mgedezi are soliciting funds from the public and promising huge returns. Forex Successful Investors is not authorised in terms of the Financial Advisory and Intermediary Services Act of 2002 (FAIS Act) to render financial advisory and intermediary services.
People should always check that an entity or individual is registered with the FSCA to provide financial advisory and intermediary services; and what category of advice it is registered to provide.
There are instances in which persons are registered to provide basic advisory services for a low-risk product and then offer services of a far more complex and risky nature.
The FSCA also warns the public not to deal with Dalot Trading CC/Unclaimed Benefits Campaign, which claim to be tracing agents.
The FSCA received information that Dalot Trading CC/Unclaimed Benefits Campaign claim that it can check people’s unclaimed benefits on their behalf and charge an admin fee for the alleged service.
Legitimate tracing agents, retirement funds and administrators will not ask for an upfront payment to assist with unclaimed benefits.
• Supplied by FSCA
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