The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Guarantee Trust Fund (Pty). Guarantee Trust Fund 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 Guarantee Trust Fund is using a fake certificate which was purportedly issued by the previous regulator, the Financial Services Board, on 2 October 2006. The claim is false as Guarantee Trust Fund is not a registered financial services provider. It is the FSCA’s view that Guarantee Trust Fund is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.
The FSCA 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.