ALERT!! Warning against Delos Management

The Financial Sector Conduct Authority (FSCA) issued a warning against a broker named Delos Management. The authority warns the public that if they deal with this broker, they must be extra cautious because it is an unlicensed broker.

The FSCA received information that Delos Management offered to trade in forex on behalf of members of the public. Without commenting on the business of Delos Management, the

FSCA points out that entities offering to trade in financial products on behalf of South African citizens are required to be authorised by the FSCA.Delos Management is not authorised by the FSCA.

The Authority said Public should always check that an entity or individual is authorised by the FSCA to provide financial products and services, including for giving recommendations about how to invest. It is also important to know what category of advice the person is

registered to provide, as there are instances where companies or people are registered to provide basic advice for a low-risk product and then offer advice on far more complex and risky products. Getting poor financial advice can bring severe harm to investors.

When we searched Delos Management on Wikifx, we found that its an unregulated broker with a very low rating of 1.14 out of 10. Wikifx issued a warning by stating,

Warning: Low score, please stay away!

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

About FSCA

The FSCA was established to be the dedicated market conduct regulator in South Africa's Twin Peaks regulatory model implemented via the Financial Sector Regulation Act.

The FSCA's mission is to promote an inclusive, customer-centric, and competitive financial sector wherein:

• Financial customers have access to innovative and appropriate products and services and are empowered to make financially capable and informed decisions;

• Financial markets function fairly, effectively, and efficiently; and

• Pro-active and responsive regulation, supervision, and enforcement results in accountable financial institutions.

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