JustMoney app

JustMoney

Make good money choices

Install
To top
Logo
Articles

FSB warns against Broker Capital

The FSB issued a public warning against Broker Capital. 

14 October 2015 · Staff Writer

The Financial Services Board (FSB) has issued a warning against Broker Capital. It has advised the public to not do business with this provider as they are not authorised to render any financial advice or intermediary services.
 
Failing to register themselves according to the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), Broker Capital has reportedly, “solicited business offering training to consumers to enable them to trade on the entity’s trading platform.”
 
According to the report, the FSB received complaints that Broker Capital is advertising as an online trading company allegedly regulated by the International Financial Services Commission (IFSC), ‘ a Belizean regulatory authority’, under the licence IFSC/60/231/TS/13.
 
“The FSB will be verifying with the authorities in Belize if Broker Capital is authorised with them as alleged. However, even if it is registered in Belize, it is still in contravention since it needs to be registered in South Africa,” said the FSB.
 
For any enquiries relating to Broker Capital, consumer can contact Constance Dibakwane from the FSB on (012) 428 8056.
 
Before conducting business with a financial services provider (FSP), the FSB suggested that consumers check with the FSB as to whether or not the FSP is authorised to “render financial services and which financial product it can offer.” This can be done by contacting the FSB on 08000 110 443, or going to the FSB website.
 

Free tool

Check your credit score now and take control of your finances. It's instant and totally FREE!

Get started
Make good money choices - join 250,000 South Africans who get our free weekly newsletter! Join the community →
JustMoney logo

info@justmoney.co.za  
4th Floor, Mutual Park, Jan Smuts Drive, Pinelands, Cape Town, 7405

© Copyright 2009 - 2024 
Terms & Conditions  ·  Privacy Policy
PAIA Manual

Quick links

Home · Articles · Products · Tools · Media · About Us JustMoney app on the Play Store

Your credit score is ready!

View your total debt balance and accounts, get a free debt assessment, apply for a personal loan, and receive unlimited access to a coach – all for FREE with JustMoney.

Show me!