Consumers warned about Guarantee Trust Fund
The Financial Sector Conduct Authority (FSCA) has warned the public against doing financial services business with Guarantee Trust Fund.
In a statement this week, the FSCA said: “Guarantee Trust Fund is not authorised in terms of the Financial Advisory and Intermediary Services Act to render any financial advice and intermediary services.”
The FSCA said it received information that Guarantee Trust Fund was using a fake certificate that claimed was issued by the previous regulator, the Financial Services Board on October 2, 2006.
“This 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.”
Consumers wanting to conduct financial services with an institution or person are advised to first check with the FSCA on either its toll-free number 0800110443 or www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.
African News Agency (ANA)