The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Denco Financial Services. Denco Financial Services 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 a person named Jane Schofield is soliciting funds from people, purporting to act for an authorised company named Denco Financial Services FSP Number 42249 (Dencofin). The person alleges to offer free financial advice to persons who wish to purchase other people’s investment policies.
Denco Financial Services CC FSP Number 42249 has confirmed that no connection exists between them and the said individual. It is the FSCA’s view that the abovementioned 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 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.