Ifa Labantwana, Bongiwe Gana and Others Added to FSCA's Warning List

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has issued warnings against the public to act with caution when dealing with the following entities: Ifa Labantwana Bethu Investments (Ifa Labantwana), Bongiwe Gana, FWT Markets, and Forex Kings.

The FSCA suspects the above mentioned entities of conducting unauthorised financial services business and breaching various financial sector laws. It was alleged that they are soliciting funds from members of the public and promising them huge returns. The FSCA confirms that they are not authorised to render financial advisory and intermediary services.

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.