FSCA issues warning against Globaltech Investment
Pretoria - The Financial Sector Conduct Authority (FSCA) has issued a warning to the public to be cautious when doing any financial services business with Globaltech Investment which advertises on Facebook and via its website.
The FSCA said it has received information that Globaltech might be conducting unregistered business and is misrepresenting itself to be an authorised financial services provider (FSP) by publishing an FSP certificate on its Facebook page that is incorrect. The FSP number does not belong to Globaltech.
According to information received, Globaltech Investment is soliciting investments from members of the public with the promise of unrealistic returns of 60% in 30 days. Without commenting on the business of Globaltech Investment, the FSCA points out that Globaltech Investment is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice or intermediary services.
Members of the public should always confirm that an entity or individual is registered with the FSCA to provide financial advisory and intermediary services and what category of advice it is that the entity is registered to provide. The FSCA reminds customers who wish to conduct financial services with an institution or person to confirm beforehand with the FSCA on https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.
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