https://www.iol.co.za/personal-finance/my-money/sa-needs-a-national-education-programme-to-teach-financial-literacy-bfef3b69-c644-4cd0-b8dd-921e5b299c8d?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1660228364 Last week, the Financial Sector Conduct Authority (FSCA) delivered its report on the 2020 Baseline Survey on Financial Literacy in South Africa and the discoveries are disheartening, without a doubt. The 2020 overview is the most recent in a progression of reviews: past ones were embraced in 2011/12, 2013, 2015, and 2017.
The Financial Sector Conduct Authority warns people to be careful when doing any financial services business with Themba Selahle also known on social media as xo_grootman. This individual has been very troublesome to the authorities as well as the members of the public, because he has been basically defrauding people out of their hard earned money.
We've seen a lot of self proclaimed millionaires over the pandemic that aimed to cash in on gullible individuals that believe in overnight success. One of the predominant scams on social media is that of cryptocurrency and forex trading. On a report that was published last year by Business Insider they have uncovered people lost billions of rands whilst chasing for the big bag.
The South African Football Association (SAFA) have reported that they have tracked down another worldwide accomplice for the Bafana public group. SAFA affirmed on Tuesday that they have collaborated with recently sent off Banxso.com to turn into the public group's Official Online Trading Partner. "The organization will assist Banxso with making consciousness of its new image and through marking across the Bafana schedule season, content on the SAFA site and furthermore through enactments with clients and fans on the web and at different occasions, with a scope of select offers and advancements," SAFA said in a proclamation.
19 July 2022 Source https://twitter.com/mtyala/status/1549384970229227521?s=20&t=0erGIeAph4WepN93CsNk5g Forex trading in South Africa and across the globe has seen a lot of people entering the industry, not to make money through investing but to scam the public. It is not surprising to read that the FSCA has issued a warning against forex trader, Mr. Themba Selahle.
Making it simpler to raise capital and permitting organizations to perform more exchanges without sitting tight for investors' endorsement are a portion of the manners in which the JSE plans to diminish the consistency trouble for recorded firms The alterations to the JSE postings prerequisites pointed toward diminishing administrative noise at the JSE, whereas of late supported by Financial Sector Conduct Authority (FSCA).
The Financial Sector Conduct Authority's (FSCA) endeavors to rejoin unclaimed retirement benefits with their original owners have just aided more than 14 000 individuals to get R1.2 billion in installments. The controller distributed the Financial Sector Outlook Study on Tuesday, in which it additionally definite headway made in observing individuals with unclaimed monies in benefits assets and gatekeeper reserves.
Phumi Ramalepe , Business Insider SA JOHANNESBURG, South Africa – The Financial Sector Conduct Authority (FSCA) announced on Tuesday that it had over R44 billion in unclaimed pension funds. The figure is attributed to approximately 4.5 million South Africans who have yet to file a claim.
https://www.iol.co.za/personal-finance/retirement/pension-fund-unlawfully-deducted-study-loan-from-workers-retirement-lump-sum-cf935a92-6821-4e7d-bb38-5abc0788995e?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1637644561 The Bokamoso Retirement Fund, controlled by Akani Retirement Fund Administrators, has been requested by the Pension Funds Adjudicator to take care of a sum deducted from a monitors retirement store withdrawal advantage in regard of a review credit.
South Africa's financial markets regulator has fined notorious US short-seller Viceroy with N$50mil for a “false and misleading” 2017 report accusing the country's fourth-largest bank, Capitec, of being a loan shark & concealing defaults on its loan book. The report triggered a sharp fall in Capitec's shares, and an angry response by the bank, accusing Viceroy of a smear campaign.
Capitec Bank fine viceroy Research and it's partner R50 Million Capitec Bank fine viceroy Research and it's partner R50 Million |Opinion
Viceroy Research and it's Partner made false,and misleading information about Capitec Bank and then published it and that was in in 2008. So the Authority (FSCA)has imposed a R50 Million adminstrative penalty on viceroy Research. On Wednesday the penalty in their statement said was imposed joinely and severally by payable by the respondents with 30 days from the date big the Order.the FSCA took in the account the need to deter such contant saying it was "serious offence that can course significant harm on investors , listed entiled and broader market"hence the need to impose a panelty that would serve as a deterrent"
Viceroy Research and three partners – Aiden Lau, Fraser John Perring, and Gabriel Bernarde – have been fined R50 million by the Financial Sector Conduct Authority (FSCA) for publishing "false, misleading, or deceptive" statements about Capitec Bank in 2018, which resulted in the bank's share price falling by 23%.
To protect vulnerable sections of society from highly risky assets, South Africa's financial authority plans to establish a regulatory framework covering cryptocurrencies early next year. FSCA commissioner Unathi Kamlana said in an interview on Friday that the regulations, which were developed in collaboration with peers such as the prudential authority and the financial surveillance board, will specify how trading in coins like Ethereum, XRP, and Litecoin should be performed.
https://www.news24.com The FSCA says its investigations confirmed that Viceroy benefited from a profit-sharing arrangement with certainly one of its clients who had taken a quick function in Capitec. The FSCA has fined Viceroy Research R50 million for publishing fake statements about Capitec in 2018. Their report caused a pointy promote-off in Capitec's share rate.
Regulator fines Viceroy R50m for wrongly faulting Capitec for being a 'loan shark' September 8, 20214 min readTrinity News Commentary. The FSCA says its assessments showed that Viceroy benefitted from an advantage offering plan to one of its clients who had taken a short circumstance in Capitec.
South Africans were cautioned to try not to exchange with ByBit Fintec Limited (ByBit). The Financial Sector Conduct Authority (FSCA) said ByBit which is situated in the Seychelles, offers exchanging subsidiary instruments through its internet exchanging stage. "It has become obvious that ByBit is offering the South African community to its internet based stage to exchange, among others, subordinates instruments.
Unclaimed pension assets in South Africa total billions of rands as millions of legitimate owners refuse to claim for a variety of reasons.According to the Financial Sector Conduct Authority, the total amount of unclaimed pension money in the South African retirement market is R44.9 billion as of the end of 2019.
Kindy comment, like, share and follow me. Mandela Lamba brought into the world in 1986 is a South African phony tycoon who short-term turned into a banner kid for youthful accomplishment and dark monetary strengthening. His standing got hammered when he was captured at Nelson Mandela Square, in Sandton Johannesburg in 2011.
It's few out of every odd day you see this. The Financial Sector Conduct Authority of South Africa (FSCA) has given an admonition around one explicit individual, encouraging residents to 'step with alert' on the off chance that they go over Mr. Mandla Lamba.
https://www.sowetanlive.co.za/news/south-africa/2021-09-13-b3-under-probe-for-tinkering-with-funeral-policies/ B3 Funeral Services, one of the most seasoned burial service homes in SA, is being researched for lessening the cover measure of strategies of no less than 6,000 of its customers purportedly without their assent. The Financial Sector Conduct Authority (FSCA) and the Office of the Ombudsman for Financial Services Providers (FAIS) affirmed to Sowetan that the 30-year-old organization is being tested after objections from clients who raised the alert with regards to their cover sums that had been decreased by as much as by 30% despite the fact that their charges stayed unaltered.