FSCA Warns Public Against Lots FX
The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with Lots FX.
The FSCA wishes to inform the public that, whilst Lots FX claims to be authorised by FSCA on its website, it is in fact not authorised to provide financial advisory and intermediary Services in South Africa.
The FSCA warns that members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide.
It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.
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