The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Fidelity Loan Investment (Pty) Ltd. Fidelity Loan Investment (Pty) Ltd 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 there is a company named Fidelity Loan Investment (Pty) Ltd which purports to be a Financial Services Provider. Fidelity Loan Investment (Pty) Ltd asserts that it is a registered financial services provider. It is fraudulently using Stanlib’s FSP number 590. Stanlib has confirmed that no relationship exists between them and Fidelity Loan Investment (Pty) Ltd. Fidelity Investment Loan (Pty) Ltd offer people loan and request them to pay an initial payment. It is the FSCA’s view that the above mentioned entity is conducting unregistered business and providing 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 20 3722) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.