FSCA warns the public against De Joint Agency
Publish date: 22 November 2019
Issue Number: 99
Diary: CompliNEWS
Category: Alert
The Financial Sector Conduct Authority (FSCA) warns the public not to conduct any financial services business or invest funds with De Joint Agency. De Joint Agency is not authorised in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act), to render any financial advice and intermediary services.
The FSCA received information that there is a company called De Joint Agency which operates in Ladybrand in the Free State Province. The company is soliciting investments from people in the area and promising returns of up to 40% for a twelve-month investment, however, people who have invested with the company have lost their funds without receiving any return on investment. Furthermore investors were told that De Joint Agency was working tirelessly to apply for a financial services provider licence and were temporarily allocated FSP No: 49910 to provide financial services whilst that was not the case.
