• FSCA Media Release

FSCA warns the public against any person claiming to be a representative of Plus500AU (Pty) Ltd


The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with individuals claiming to be representatives of Plus500AU (Pty) Ltd.

Plus500AU (Pty) Ltd is an authorised Financial Services Provider in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), and is authorised to render financial advice and intermediary services.

According to information received, there is a person or persons contacting members of the public purporting to act for or on behalf of Plus500AU (Pty) Ltd. These people request money from members of the public and state that they will provide them with the services rendered by Plus500AU (Pty) Ltd.

Plus500AU (Pty) Ltd has confirmed that no connection exists between them and the said individuals, and that they have an online system whereby members open their own accounts, and as such they do not make use of sales staff or representatives.

It is the FSCA’s view that the abovementioned individuals are conducting unregistered business and providing financial advisory and intermediary services without the necessary authorisation.

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.


ENDS


Enquiries: Ms Nokuthula Mtungwa Financial Sector Conduct Authority Email address: Nokuthula.Mtungwa@fsca.co.za Telephone: 012 422 2919

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