FSCA flags Global Capital Investments and Matshavhange Mulanga
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THE Financial Sector Conduct Authority (FSCA) has warned the public to act with caution when doing any financial services business with Global Capital Investments and Matshavhange Mulanga.
The organisation said: “Whilst it is uncertain what business the company is conducting, the FSCA points out that Global Capital Investments and Matshavhange Mulanga are not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).”
The FSCA said it had received complaints against Global Capital Investments and Matshavhange Mulanga from members of the public who had invested money in the company and were now unable to withdraw their funds.
Despite its best efforts, the FSCA said it had not been able to reach Global Capital Investments and Mulanga.
“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, and in particular which financial products they are licensed for,“ it said.