FSCA fines Afrikan Financial Services R2.5m
The Financial Sector Conduct Authority has warned people away from the company after its key people have been debarred for 10 years
11 December 2019 - 14:38
The Financial Sector Conduct Authority (FSCA) has fined Afrikan Financial Services more than R2.5m and warned the public against doing any financial services-related business with the company.
The FSCA says it withdrew Afrikan’s licence on November 22 2019 for contravening section 7(1) of the Financial Advisory and Intermediary Services Act of 2002 (FAIS Act). The company was furnishing advice in respect of deposits and rendering intermediary services in relation to a long-term policy without being duly authorised...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.