The Financial Sector Conduct Authority (FSCA) has previously warned the public against trading with MTI (Mirror Trading International (Pty) Limited) and makes this information available, because it believes it is in the public interest to warn financial customers and to protect the public. ALSO READ: FSCA conducts search operations at premises of Mirror Trading International …
In October this year, South African Finance Minister Tito Mboweni sowed confusion through an answer to a question in parliament regarding the legal status of online Forex trading in the country. More precisely, Mr. Mboweni suggested that online Forex trading was illegal in South Africa, in contradiction with the current regulations of the Financial Sector …
In a recent article published by the FSCA in the Financial Mail, the financial regulator appealed for financial institutions to treat their clients fairly. While the article itself tells us little we do not already know about the FSCA’s role in the South African financial world, the timing of the article is interesting. It is …
The Minister of Finance Tito Mboweni has, in terms of Regulation 3(1)(d) of Financial Sector Regulations, 2018 (as amended) that were made in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No. 9 of 2017, appointed Mr Olano Makhubela to perform the functions of the Commissioner of the Financial Sector …
On 26 October 2020, the Financial Conduct Authority (FSCA) executed three search and seizure warrants, which were issued by three separate high courts in Limpopo, Kwazulu-Natal and Western Cape, on application by the FSCA, at the home of the Chief Executive Officer of Mirror Trading International (MTI), Mr. Johan Steynberg, the home of the Marketing …
The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Mr Roland Hadebe who is 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 received information that Mr Hadebe uses social …
The Financial Sector Conduct Authority (FSCA) warns the public not to deal with an individual named Mark Hopkins operating on Instagram claiming to be associated with Pro Global Forex (Pty) Ltd (Pro Global), anauthorised Financial Services Provider (FSP No.33691). ALSO READ: FSCA Investigates Mirror Trading International The FSCA was informed that Mark Hopkins is using …
The FSCA is investigating the activities of Mirror Trading International. The FSCA is of the view that the current business model of Mirror Trading International requires it to be in possession of a financial service provider licence. ALSO READ: The FSCA files urgent application with High Court to liquidate JP Markets SA (Pty) Ltd “MTI …
The Financial Sector Conduct Authority (FSCA) has filed an urgent application with the High Court to liquidate JP Markets (Pty) Limited and would like to inform the public, particularly the clients of JP Markets, that the bank accounts of JP Markets have been frozen. This means that JP Markets will no longer be able to …
The Financial Sector Conduct Authority (FSCA) last week welcomed the sentencing of Port Elizabeth foreign exchange (forex) trader David Wilmot, who stole R23 million from clients under the guise that he would trade forex on their behalf. ALSO READ: South African Forex Trader Jabulani Cashflow Ngcobo Sentenced To 6 Year Imprisonment Last week, The Port …