FSB warns the public against Destidex Investments (Pty) Ltd trading as StockTraders

March 16, 2018

 

The Financial Services Board (FSB) warns the public to act with caution when dealing with Destidex Investments (Pty) Ltd trading as StockTraders (“StockTraders”), an entity purporting to be in association with a registered financial services provider, and its agents. 

 

StockTraders 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 FSB has received information that StockTraders is purporting to be in association with Emperor Asset Management, an authorised financial services provider (“FSP”) with FSP number 44978.

 

Emperor Asset Management has indicated to the FSB that it has no connection whatsoever with StockTraders.

 

StockTraders claims that the capital invested by an investor is re-insured by Hollard Insurance Company, FSP 17698 and therefore guaranteed to the investor.  Hollard Insurance Company denied the existence of any relationship with StockTraders. 

 

The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800 110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.  

 

-Ends-

 

Enquiries:      Ms Tembisa Marele

                        Communications Specialist

                        Financial Services Board

                        Email address: Tembisa.Marele@fsb.co.za

                        Telephone: 012 428 8025

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