FSCA warns public against Supreme Guarantees and Finance Services

By Supplied Time of article published Mar 12, 2021

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The Financial Sector Conduct Authority (FSCA) warns the public against conducting financial services business with Supreme Guarantees and Finance Services (Supreme Guarantees) and Vutivi Mahunisi (Mahunisi).

The FSCA has received information that Supreme Guarantees and Mahunisi are conducting unregistered business and misrepresenting themselves as a business partner of FDM Engineering Underwriters-FSP number 20816 (FDM).

Supreme Guarantees and Mahunisi are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice and intermediary services.

FDM has confirmed that it is not linked in any business relationship with Supreme Guarantees and Mahunisi.

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 as to whether or not such institution or person is authorised to render financial services.


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