R1.18m fine and five-year debarment for unauthorised CFD trading
The FSCA’s investigation also found that Petrus Rasmus Erasmus provided trading signals without a licence.
#tradingsignals
Scammers falsely claim to be associated with Brenthurst Wealth, Nicolette Mashile and 1nvest
Online fraudsters are abusing the names of Brenthurst Wealth’s Magnus Heystek and Brian Butchart, as well as Nicolette Mashile of Financial Fitness Bunny, to solicit money from the public.
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
Authority highlights regulatory focus areas in 2024
FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.
