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FSCA issues public warning against Falcon FX

By Opinion Time of article published Mar 25, 2021

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The Financial Sector Conduct Authority (FSCA) warns the public against conducting financial services business with Falcon FX. The FSCA has received information that Falcon FX is conducting unregistered business and misrepresenting itself as a juristic representative of Lehumo Investments.

Falcon FX is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice and intermediary services. Lehumo Investments has confirmed that it is not linked in any business relationship with Falcon FX.

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.

PERSONAL FINANCE

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