FSCA warns public against SD Farmlink

Thursday, October 13, 2022

The Financial Sector Conduct Authority (FSCA) has warned the public to act with caution when dealing with SD Farmlink (Pty) Ltd).

In a statement, the FSCA said SD Farmlink claims that it offers various investment opportunities to its clients, with the goal of empowering and creating jobs for youth and women in agriculture (through a livestock stokvel).

“These investment opportunities involve clients investing an amount of money with a fixed monthly return on the investment over a specified period. Clients also allegedly receive benefits related to starting a livestock farm.

“SD Farmlink is not authorised as a Financial Services Provider (FSP) in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), neither is it a registered stokvel in terms of the Friendlies Societies Act,1956,” the FSCA said.

Furthermore, it is not authorised to solicit deposits from members of the public.

The authority said members of the public should always ensure that an entity or individual is suitably authorised by the FSCA to provide the specific financial product or service being offered.

Check this before any purchase or investment is made, by one of the following:

1) Toll-free number: 0800 110 443

2) Online search for authorised financial institution by license category: https://www.fsca.co.za/Regulated%20Entities/Pages/List-Regulated-EntitiesPersons.aspx

3) Online search for a financial institution that is an authorised FSP in terms of the FAIS Act: https://www.fsca.co.za/Fais/Search_FSP.html

- SAnews.gov.za

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