FSCA Warns Public Against Ms Marietjie van der Merwe and IC Markets Ltd

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with Ms Marietjie van der Merwe and IC Markets Ltd.

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The FSCA received information that Ms Marietjie van der Merwe solicits investments from the public through Facebook and WhatsApp while claiming to work as a financial advisor for IC Markets Ltd.

It is the FSCA's view, based on available information that Ms Marietjie van der Merwe and IC Markets Ltd may be conducting unregistered business and intermediary services without the necessary authorisation in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).

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.