• FSCA Media Release

FSCA warns the public against Altimate Coin Financial Services Limited


The Financial Sector Conduct Authority (FSCA) would like to warn members of the public to act with caution when dealing with Altimate Coin Financial Services Limited (Altimate).


The FSCA received information that Altimate claims on their website to be authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render financial services since 2015.


The FSCA confirms that Altimate is not authorised to provide any financial advice and intermediary services to customers.


It is the FSCA’s view that this entity is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.


Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide. There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature.


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.


ENDS

Enquiries:

Financial Sector Conduct Authority

Email address: fscacommunications@fsca.co.za

Telephone: 012 367 7883

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