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FSCA warns against an entity using Capta Forex FSP number without authorisation

By Supplied Time of article published Jun 2, 2021

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The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services related business with an entity using Capta Forex (Pty) Ltd T/A Capta FX FSP number (48120) without authorisation. It has been brought to the attention of the Authority by the the external compliance officer of Capta FX, that it does not have any association with the said entity.

The FSCA notes that IFX Trading Signal, which a public warning was issued against on 31 March 2021, has created another domain name https://captafxtrading.com/ which it claims to be associated with Capta FX. IFX Trading Signal appears to have plagiarised the Capta FX logo (https://captafx.co.za/) for their own purposes and solicits investments from individuals without being duly authorised to do so.

According to the FSCA’s records, the entity is not an authorised FSP nor a representative of one. There is also no record of an application to become an authorised FSP with the Authority, therefore, it is not authorised to render financial services as contemplated in the FAIS Act.

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 reminds customers 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.

PERSONAL FINANCE

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