The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Palime Group (Pty) Ltd trading as MZP Markets. MZP Markets 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 MZP Markets is rendering financial advice and intermediary services to members of the public by offering short-term and long-term investments, as well as Forex. MZP Markets is conducting unregistered financial services business 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 https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.