The Financial Sector Conduct Authority (FSCA) would like to warn the public not to deal with an entity called Ashcroft Cohen Strategic Capital. Ashcroft Cohen Strategic Capital 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 was informed that Ashcroft Cohen Strategic Capital has been offering investments to customers. Ashcroft Cohen Strategic Capital is based in China and there is no record of application by this entity to be registered as an authorised financial services provider (FSP) or any existing license issued by the Authority.
Therefore, it is FSCA’s view that Ashcroft Cohen Strategic Capital is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.
Any consumer who wishes 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 www.fsca.co.za as to whether or not such institution or person is authorised to render any financial services.