FSCA warns the public against Imvelo Stock Exchange (Pty) Ltd

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The Financial Sector Conduct Authority (FSCA) warns the public against conducting any financial or security services related business with an entity by the name Imvelo Stock Exchange (Pty) Ltd.

It came to the attention of the FSCA that Imvelo Stock Exchange (Pty) Ltd is describing itself as an Exchange in a manner that is misleading to members of the public.

“Exchange (Pty) Ltd is not licensed as an Exchange in terms of section 9 of the Financial Markets Act, 2012 (Act No. 19 of 2012) (“FMA”)” .

The FSCA said it has resolved to refer this matter to the South African Police Services and to the Companies and Intellectual Property Commission for investigation of the entity and its directors.

The FSCA reminds customers 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 https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.

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