AIP Capital Management (Pty) Ltd (clone) - Waarschuwing FSCA South Africa
FSCA Press Release 29 January 2020
FSCA warns the public against Mr Martin Sethole and Nadex Investments
The Financial Sector Conduct Authority (FSCA) warns the public against doing any
financial services business with Mr Martin Sethole and Nadex Investments (Pty) Ltd,
Neither Mr Sethole nor Nadex Investments are authorised to give any financial advice or
render any intermediary services in terms of the Financial Advisory and Intermediary
Services Act, 2002 (FAIS Act).
The FSCA received information that Mr Sethole is encouraging members of the public to
invest in a binary options strategy with Nadex Investments and promises high returns
within 48 hours. He alleges that Nadex Investments is a subsidiary of AIP Capital
Management (Pty) Ltd, an authorised financial services provider with FSP number
(48828). AIP Capital Management have confirmed that it does not own any subsidiaries
and has no relationship with Nadex Investments or Mr Sethole.
It is the FSCA’s view that Mr Sethole and Nadex Investments (Pty) Ltd are conducting
unregistered business and providing financial services without the necessary
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. There are instances where persons are
registered to provide basic advisory services for a low risk product and then offer services
of a far more complex and risky nature.
The FSCA reminds customers who wish to conduct financial services with an institution or
person to check beforehand with the FSCA on either the toll free number (0800 110 443)
or on https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is
authorised to render financial services.
Enquiries: Financial Sector Conduct Authority
Email address: email@example.com
Telephone: 012 422 2842