The Financial Services Board (FSB) has warned the public to be cautious when dealing with Integrated Investment Management South Africa (IIMSA) regarding financial-services-related business.
According to the press release, the FSB has received several complaints from investors who cannot access or retrieve their investments entrusted to IIMSA. IIMSA is conducting business in Bloemfontein and purports to manage clients with investment on the JSE and promises prospective investors returns ranging between 80% to 100%.
IIMSA, which is represented by Peter Duvenage, is not an authorised financial-services provider, but has submitted an application for authorisation under section 8 of the Financial Advisory and Intermediary Services Act, 37 of 2002.
This application is currently receiving attention and until authorised, IIMSA/Peter Duvenage will be contravening the law, if rendering financial services.
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