The South Africa Financial Sector Conduct Authority has provisionally withdrawn the financial services provider licence of Imermarket Pty Ltd, FSP 640, after preliminary investigation findings raised concerns about a real risk of harm to clients or the general public. As a result, Imermarket cannot conduct further financial services business or receive additional funds from clients while the provisional withdrawal is in force. The concerns cited by the authority include apparent aggressive, manipulative and high-pressure sales techniques, the provision of financial advice by individuals who are not authorised representatives, and pressure on clients to make deposits even after they raised concerns. The preliminary findings also point to failures to conduct appropriate suitability and needs analysis, provide adequate risk disclosures, and honour or process client withdrawal requests. The measure is provisional and based on preliminary findings rather than a completed investigation. Imermarket has been given an opportunity to explain why the withdrawal should be lifted or not made final, while the investigation remains ongoing and may widen as further information emerges. The authority said it will provide a further public update once the investigation has been finalised.
South Africa Financial Sector Conduct Authority2026-07-02
South Africa Financial Sector Conduct Authority provisionally withdraws Imermarket licence over client harm concerns
The South Africa Financial Sector Conduct Authority has provisionally withdrawn Imermarket Pty Ltd's financial services provider licence after preliminary findings indicated a risk of harm to clients and the public. The firm can no longer provide financial services or accept additional client funds. The authority cited concerns including high-pressure sales practices, unauthorised advice, weak risk disclosures and failures to process client withdrawals.