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CityPress - - Business - COM­PILED BY AN­GELIQUE RUZ­ICKA

COM­PANY FINED R50 000 FOR SO­LIC­IT­ING IN­VEST­MENTS

Iza Wealth has been fined R50 000 af­ter the reg­is­trar of col­lec­tive in­vest­ment schemes found that the com­pany so­licited in­vest­ments from two in­vestors for an un­ap­proved for­eign col­lec­tive scheme be­tween April 22 and Septem­ber 17 2015.

The case against Iza Wealth was handed over to the en­force­ment com­mit­tee of the Fi­nan­cial Ser­vices Board. The re­fer­ral re­lated to a con­tra­ven­tion of sec­tion 65 of the Col­lec­tive In­vest­ment Schemes Con­trol Act.

The par­ties agreed on a penalty of R50 000, which was im­posed by the chair­per­son of the en­force­ment com­mit­tee on April 7.

Af­ter the case was con­cluded, the reg­is­trar re­leased a state­ment, which read: “In ar­riv­ing at an appropriate penalty, the reg­is­trar took into ac­count in­ter alia that the re­spon­dent un­der­took to rec­tify the con­tra­ven­tion by com­ply­ing with the reg­is­trar’s in­struc­tions.

“The re­spon­dent ex­pressed re­gret for the con­tra­ven­tion and co­op­er­ated with the reg­is­trar to en­sure that this mat­ter was brought to fi­nal­ity. The reg­is­trar was not aware of any prej­u­dice caused to the af­fected clients as a re­sult of the re­spon­dent’s ac­tions.”

FNB LAUNCHES AUG­MENTED RE­AL­ITY ON APP

FNB has in­tro­duced aug­mented re­al­ity and FNB TV on its FNB banking app. The eBucks part­ner lo­ca­tor on the FNB app uses aug­mented re­al­ity to help cus­tomers find nearby eBucks re­tail part­ners. Mean­while, FNB TV has been cre­ated to help cus­tomers nav­i­gate banking eas­ily with “how to” video clips.

Sahil Mun­gar, the head of mar­ket­ing for FNB dig­i­tal banking, says: “Aug­mented re­al­ity over­lays re­tail part­ners on to your phone screen, in­di­cat­ing the dis­tance to the re­tailer, eBucks spend and earn op­tions, opening times and con­tact details.

“This will evolve over time to be­come more in­ter­ac­tive to sup­ple­ment your phys­i­cal world with how FNB can save you money and make life eas­ier to man­age.

“FNB TV now al­lows cus­tomers to find and watch short videos to help with the common day-to-day frus­tra­tions that we all ex­pe­ri­ence. We have an­a­lysed common cus­tomer en­quiries at our branches and con­tact cen­tres, and have short videos avail­able on FNB TV to help them find quick so­lu­tions.

“We will con­tin­u­ously up­date FNB TV to help our cus­tomers be­come aware of help­ful tips and convenient prod­ucts.”

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