South Africa’s FSB warns the public against Capital Management Private Wealth

The Financial Services Board (FSB) of South Africa today would like to warn the public against conducting financial services business with Capital Management Private Wealth (herein referred to as Capital Management).

The FSB register authorized Courtney Capital Management (Pty) Ltd – FSP43057 – to conduct business as a financial services provider on October 11, 2011. The FSB can confirm that the Capital Management is not associated or linked to Courtney Capital Management (Pty) Ltd and is therefore not authorized to use the FSP number 43057.

Capital Management is not an authorized Financial Service Provider and the public is warned to exercise caution when dealing with this entity.

It has been brought to the Registrar’s attention that the entity purports to have been issued with FSP Number 43057 and it promises clients a 25% daily return on their investments.

The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800110 443) or on the website as to whether or not such institution or person is authorized to render financial services.

To see the official warning, click here (PDF).

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