The Financial Sector Conduct Authority (FSCA) has issued a public warning against Theophilus Mpofu and Dench Investment Solutions (Pty) Ltd (Dench Investments), cautioning the public to be careful when conducting financial services business with them.
According to the FSCA, Mr. Mpofu and Dench Investments have been offering financial services to the public, such as trading in shares on their behalf, without proper authorization. Furthermore, the FSCA has received information that Mr. Mpofu and Dench Investments are misrepresenting themselves as being part of Unum Capital (Pty) Ltd (Unum Capital), an authorized Financial Services Provider (FSP) with FSP number 564.
Unum Capital has confirmed that it has no business relationship with Mr. Mpofu and Dench Investments. The FSCA has stated that any individual or entity providing financial advice or intermediary services in South Africa must be licensed to do so. Mr. Mpofu and Dench Investments have not been authorized by the FSCA to provide financial advisory and intermediary services.
The FSCA has made attempts to contact Mr. Mpofu and Dench Investments, but has been unsuccessful in reaching them. In light of this situation, the FSCA urges the public to ensure that any entity or individual offering financial products or services is appropriately authorized by the FSCA before engaging with them.
The public is reminded to exercise caution and verify the authorization status of any financial services provider before conducting business with them, in order to protect themselves from potential financial losses and scams.
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