FSCA warns public against Highveld Car Dealership

The Financial Sector Conduct Authority (FSCA) has warned the public to be careful when conducting financial services business with Highveld Car Dealership because it received information the dealership may be conducting unregistered financial services business and misrepresenting itself as part of the Hatfield Group (Pty) Ltd.

According to a statement issued by the FSCA, the Highveld Car Dealership is not authorised to render any financial advice and intermediary services in terms of the Financial Advisory and Intermediary Services Act. The Hatfield Group has also confirmed it has no business relationship with Highveld Car Dealership.

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The FSCA says consumers must always check that an entity or individual is registered with the FSCA to provide financial advisory and intermediary services, as well as the category of advice it is registered to provide.

Companies and people are sometimes registered to provide basic advisory services for a low risk product, but then offer services of a far more complex and risky nature.

Consumers can contact the FSCA on the toll free number 0800 110 443 or its website, www.fsca.co.za, to find out if an institution or person is authorised to render financial services.