The South African financial regulator has told the public to steer clear of Trevor Shane Reddy, who is claiming to be affiliated with authorised firm Executive Wealth Management.
The Financial Sector Conduct Authority (FSCA) said Reddy has asked individuals to deposit funds into a bank account that does not belong to Executive Wealth Management, claiming that the funds will be invested on their behalf.
Executive Wealth Management has confirmed that Reddy “is no longer affiliated with them”.
Check with the regulator
The FSCA said: “Reddy is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.
“Members of the public should always check that an entity or individual is registered with the FSCA to provide financial advisory and 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.”
