Secondary

moonstone-discussion-paper

What’s in a Name?

Misleading advertising will receive a lot of attention in future regulation. A recent media release by the Council for Medical Schemes provides a timely warning to us to make sure that we do not make the same mistake.

The CMS warns the public against Derick Gerber and Revolution Wealth

Mr Gerber is not authorised in terms of the Medical Schemes Act, 131 of 1998, to render broker services other than using the name by which he is accredited and licensed by the Financial Services Board (FSB). The CMS received information that Mr Gerber advertises financial services and healthcare cover to the public to be rendered by Revolution Wealth, whilst the letterhead being used by his office refers to BAS4 Financial Services.

Revolution Wealth is not accredited as a legal entity and is accordingly not authorised to do business as a healthcare broker and since Mr Gerber contravenes prevailing legislation, his fitness and propriety as a broker, doing business in terms of his current accreditation, becomes a matter of investigation.

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