FSCA Warns the Public Against Walter Monte Weakley

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public against doing any financial services business with Walter Monte Weakley (Mr Weakley). 

According to the information received by the FSCA, Mr Weakley advertises himself as a forex trader on Facebook soliciting investments from the public. Mr Weakley promises growth in client investments by 100% within 56 working days. There have also been multiple complaints made against him on social media calling him a "scammer". 

It is the FSCA's view that Mr Weakley is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation. 

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.

As Fazzaco reported on April 14, 2021, Qinox Tech, a London based premium technology provider and consultancy company for forex brokers and financial institutions, has obtained a regulatory license of the FSCA​ in the list of financial operational licenses.