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As a central knowledge portal to the retirement and related industries, EBnet publishes a range of daily articles submitted by a range of industry organisations, experts and contributors. Readers can also comment on and contribute to articles.

July 22, 2020

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing individuals pretending to be from Stanlib Wealth Management (Pty) Ltd which trades as Stanlib Loan Wealth Management (Pty) Ltd.


The FSCA received information that individuals are attempting to use Stanlib’s name to offer loans at low interest rates. The scam is communicated on WhatsApp using the cellphone number: 067 209 1945 and email address: stanlib.w.m.ltd@gmail.com.

The FSCA has confirmed with Stanlib that they do not have any connection with these individuals, the email a...

June 30, 2020

On 26 June 2020, the Financial Sector Conduct Authority (FSCA) published final amendments to the General and Short-term deposit Codes of Conduct as well as Fit and Proper requirements under the FAIS Act.

The amendments are necessary to contribute to the fulfilment of the FSCA’s legislated objectives and are ultimately intended to promote the fair treatment and protection of financial customers.

Some of the amendments emanated from policy processes that started as far back as 2014, such as the Retail Distribution Review. The introduction of the Insurance Act also resulted in various references to...

June 25, 2020

The Financial Sector Conduct Authority (FSCA) would like to warn the public not to deal with certain individuals’ operating on WhatsApp claiming to be affiliated with Allan Gray (Pty) Ltd, an authorised Financial Services Provider (FSP No. 27145).

The FSCA was informed that there are individuals who have been claiming to be representatives of or affiliated with Allan Gray and are asking the public on WhatsApp to make investments.

The individuals are offering short-term investments with a 100% return on investment. Allan Gray has confirmed that the WhatsApp profiles do not belong to them or affil...

June 25, 2020

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Amahle Gwebu.

This individual is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).

The FSCA received information that Amahle Gwebu is placing Covid-19 loan adverts on Facebook in various Facebook groups under the name of IMB Financial Services.

IMB Financial Services (Pty) Ltd, an authorised financial services provider (FSP number: 43443), has confirmed that it has no affil...

June 25, 2020

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with Ashley Rix.

This individual is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.

The FSCA received information that Ashley Rix offers Forex trading services to his clients and promises high returns on their investments, which do not materialise.

It is the FSCA’s view that Ashley Rix is conducting unregistered business as he is providing advisory and intermediary services without t...

June 25, 2020

The Financial Sector Conduct Authority (FSCA) warns the public against an entity called Crowd 1, which is not authorised to render the financial services it is providing.

Crowd 1 is neither an authorised Financial Service Provider (FSP), nor is it a representative of an authorised FSP. There is also no record of this entity having applied for a license with the FSCA.

The FSCA is mandated by the Financial Sector Regulation Act (FSRA) to regulate, investigate and impose enforcement on any individual and/or entity rendering financial services and/or financial products as defined in the relevant act...

June 24, 2020

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial business with Tradehedges Ltd. The entity is claims to be an authorised financial services provider (FSP), using a false FSP number and licence.

The FSCA received information from members of the public in 10 June 2020 that Tradehedges Ltd, claims to be an authorised FSP (FSP no. 685212).

The FSCA was further informed that Tradehedges Ltd also displays a certificate purporting to have been issued by the FSCA when it was still the Financial Services Board (FSB) on 5 July 2017.

This is incorrect, as according...

June 22, 2020

The Financial Sector Conduct Authority (FSCA) has provisionally suspended the licence of JP Markets SA (Pty) Ltd (JP Markets), FSP number 46855, as there is reasonable belief that substantial prejudice to clients or the general public may occur if they continue rendering financial services.

The Authority has decided to provisionally suspend the FSP licence, pursuant to the commencement of an investigation into the contraventions of certain financial sector laws by JP markets and numerous complaints received from clients based on JP Markets’ failure to honour client withdrawal requests.

During th...

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