{"id":2121,"date":"2025-12-09T21:12:09","date_gmt":"2025-12-09T21:12:09","guid":{"rendered":"https:\/\/microvibenews.com\/?p=2121"},"modified":"2025-12-09T21:12:09","modified_gmt":"2025-12-09T21:12:09","slug":"afrimarkets-loses-its-fsp-licence","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=2121","title":{"rendered":"AfriMarkets loses its FSP licence"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>The Financial Sector Conduct Authority (FSCA) has made final the provisional withdrawal of the Financial Services Provider (FSP) licence of AfriMarkets Capital (Pty) Ltd.<\/p>\n<p>The decision was finalised on 9 December 2025, following an investigation that found AfriMarkets materially contravened various financial sector laws and no longer meets the fit and proper requirements to operate.<\/p>\n<p>The FSCA initially provisionally withdrew the licence on 4 July 2025. AfriMarkets was subsequently given the opportunity to make representations on the FSCA\u2019s intended final decision.<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>Read:<br \/>Banxso and AfriMarkets reborn under different names?<br \/>Banxso placed in provisional liquidation<br \/>FSCA withdraws Banxso\u2019s FSP licence<br \/>FSCA slaps Banxso and\u00a0directors with R2bn penalty,\u00a0refers matter to police<\/p>\n<p><strong>Investigation findings<\/strong><\/p>\n<p>The FSCA\u2019s investigation into AfriMarkets\u2019 conduct yielded several serious findings, including:<\/p>\n<ul>\n<li>Misappropriation of client funds;<\/li>\n<li>Providing clients with advice while the firm was not authorised to do so;<\/li>\n<li>Providing false and\/or misleading information both to clients and to the FSCA;<\/li>\n<li>Promising clients unrealistic returns; and<\/li>\n<li>Failing to act in the best interests of its clients.<\/li>\n<\/ul>\n<p>The FSCA said it will provide members of the public with updates regarding any further decisions in this matter.<\/p>\n<p>Read:<br \/>\u2018AfriMarkets onboards 80 clients daily from fake ads\u2019 \u2013 former employee<br \/>New scam targets Banxso victims using their personal data<\/p>\n<p><em>Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n<p><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#AfriMarkets #loses #FSP #licence<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Sector Conduct A&hellip; <\/p>\n","protected":false},"author":1,"featured_media":2122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[2177,2179,2180,2178],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/2121"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2121"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/2121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/2122"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}