Nigel Green fine and ban overturned
South Africa regulator handed him a ZAR 2.5m penalty and five-year debarment in May 2022
South Africa regulator handed him a ZAR 2.5m penalty and five-year debarment in May 2022
Most of which sits in retirement funds in part because of inadequate record keeping by intermediaries
As regulator is forced to step in
He has been ordered to pay ZAR 800,000
As regulator raises red flag on ‘Ponzi-like’ tactics used by their firm
Watchdog says it is carrying out ‘unauthorised financial services to unsuspecting financial consumers’
It believes the unauthorised company uses ‘boiler room tactics’
They used names similar to Stanlib and PSG Wealth Financial Planning without authorisation
As it alerts public against a separate investment firm promising ‘unrealistic huge returns’
South African regulator steps in to protect consumers
Several months after watchdog provisionally suspended its financial services provider licence
Veteran fund manager to retire, while investment management firm hires head of Emea insurance