The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Marang DC Burial Society as this entity is not authorised to render any financial advice and intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”),
The FSCA received information that there is a person named Tumi Cholo who is purporting to act for Marang DC Burial Society. Marang DC Burial Society is misleading the public by purporting to be an authorised financial service provider and collecting premiums from members of the public. It is the FSCA’s view that the abovementioned entity Marang DC Burial Society is conducting unregistered business and providing financial 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 (0800110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.