Warning about unregistered operators

THE FINANCIAL Services Board (FSB) has issued warnings against a number of operators in the financial services area, none of which are registered financial services providers (FSPs), saying you should act with caution in dealing with them.

• Service You Need Enterprise & Tracing Service (SYN) and Samantha Langeveldt/Jonker in the Pretoria area. SYN and Langeveldt/Jonker are, according to information received by the FSB, offering help in claiming pension and provident fund surpluses. According to the FSB, Langeveldt/ Jonker is operating an unregistered business and providing advisory and intermediary services without the necessary authorisation.

• Blue Granite Investments trading as Fair Finance, Capital Loans and Daily Finance SA. These entities, says the FSB, are offering loans and claim to be registered FSPs, sometimes using the number FSP 20494. This is the registration number of a provider whose licence was withdrawn in 2012.

• Destidex Investments trading as StockTraders. The FSB has received information that StockTraders is purporting to be operating in association with Emperor Asset Management, an authorised FSP with FSP number 44978. Emperor Asset Management has indicated to the FSB that it has no connection whatsoever with StockTraders. StockTraders claims that the capital invested by an investor is re-insured by Hollard Insurance Company, FSP 17698, and therefore guaranteed to the investor. Hollard has also denied having any relationship with StockTraders. – Staff Reporter