The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Xchange Share Tracking and Trading and/or DSB Brokers / DSB Securities Ltd which are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render any financial advice and intermediary services.
It was brought to the attention the FSCA that the aforementioned entities were purporting to be authorised financial services providers who provide various money market facilities on the Johannesburg Stock Exchange.
It has further been brought to the attention of the FSCA that the entities were soliciting money from the members of the public under false pretences that such money would be invested for their benefit.
Neither Xchange Share Tracking & Trading nor DSB Brokers / DSB Securities Ltd are authorised financial services providers to render financial services as contemplated under the FAIS Act.
The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.
Ms Nokuthula Mtungwa
Financial Sector Conduct Authority
Email address: Nokuthula.Mtungwa@fsca.co.za
Telephone: 012 422 2919