FSB warns consumers about Thapelo Mathibe and Family Assist Cover

THE FINANCIAL Services Board (FSB) warns you against dealing with two companies that are operating unlawfully. The entities are: • Thapelo Mathibe of Under the Radar Investments. Mathibe and his company are not authorised in terms of the Financial Advisory and Intermediary Services (FAIS) Act to render any financial advice and intermediary services.

Apparently, Mathibe, who lives in Ga-Rankuwa, teaches people how to trade on the stock market and trades on their behalf. He does not pay people their returns, the FSB says. He also tells people that his company is registered with the FSB, which it is not.

• Family Assist Cover. This entity is also not registered under the FAIS Act to provide financial services.

The FSB says it has received information that Family Assist Cover is using the financial services provider numbers of KGA Life and Avbob Mutual Assurance to sell policies, stating that they are underwritten by KGA Life or Avbob. Neither KGA Life nor Avbob underwrite the policies of Family Assist Cover.

The FSB again reminds consumers who want to conduct financial services with an institution or person to check beforehand with the FSB on either 0800 110 443 or www.fsb.co.za whether or not such institution or person is authorised to render financial services. – Staff Reporter