The South Africa Financial Sector Conduct Authority (FSCA) has announced an investigation into Imermarket (Pty) Ltd, trading as Inversacapital, and two individuals associated with the firm, following client complaints linked to its trading activities in Contracts for Difference (CFDs). The FSCA stressed that the investigation is ongoing and that no findings have been made. Imermarket is an authorised financial services provider with FSP No. 640, but it is not an authorised over-the-counter derivative provider. Complaints received by the FSCA allege that Imermarket representatives provided trading advice that led to client losses, pressured clients to make additional deposits, and created persistent difficulties for clients seeking to access and or withdraw invested funds. The investigation is intended to establish whether the parties contravened financial sector laws, including section 8A(a) of the Financial Advisory and Intermediary Services Act 37 of 2002 and Regulation 2 of the regulations published under Government Notice R98 in Government Gazette 41433 of 9 February 2018, in terms of the Financial Markets Act 19 of 2012. The FSCA said it will update the public on the outcome of the investigation in due course.

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