简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with an online trading platform which is using the name Kuveyt Yatirim. Kuveyt Yatirim is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.
The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with an online trading platform which is using the name Kuveyt Yatirim. Kuveyt Yatirim is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.
The FSCA received information that Kuveyt Yatirim is soliciting investments from people and promising unrealistic and excessive returns. They appear to be a foreign entity which is not registered with the authority and their website guarantees that their “FSCA License guarantees investors investments of up to 100,000 USD”. This statement is completely false and misleading as the FSCA does not offer any guarantees relating to investments and the entity is not authorised as aforementioned.
The FSCA warns that 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.
It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.
Members of the public should always check 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. 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, and in particular which financial products they are licensed for.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
In recent months, PrimeX Capital, a Forex and CFD broker established in 2022, has become a subject of concern in the trading community. However, despite these enticing features, the broker's reputation has been severely tarnished by multiple complaints and a troubling lack of regulatory oversight.
Markets4you, is a global forex broker launched in 2007. It was established in the British Virgin Islands. This broker offers its global traders various market instruments.
Discover how MultiBank Group, a global leader in financial derivatives, secured three prestigious awards at Traders Fair Hong Kong 2024, highlighting its innovative trading solutions and industry excellence.
PT. Doo Financial Futures, a subsidiary of the global financial services brand Doo Group, has secured regulatory approval from Indonesia’s Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI).