South Africa's Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of ZAR 1,500,000 on Mr Ian Roscoe and debarred him for 20 years following an investigation into intermediary services he provided to clients. The FSCA found that Mr Roscoe rendered intermediary services that resulted in clients investing in the BHI Trust investment run by Mr Craig Warriner, while Mr Roscoe was not authorised as a financial services provider. The BHI Trust and Mr Warriner had previously been found to have contravened section 7(1) of the Financial Advisory and Intermediary Services Act, 2002 by acting as discretionary financial services providers, with Mr Warriner debarred for 30 years and sentenced to 25 years' imprisonment for charges including contravening section 7(1) of the Act.
South Africa Financial Sector Conduct Authority 2026-04-09
South Africa Financial Sector Conduct Authority imposes ZAR 1.5 million penalty and 20-year debarment on Ian Roscoe for unauthorised intermediary services linked to the BHI Trust
The South Africa Financial Sector Conduct Authority has imposed an administrative penalty of ZAR 1,500,000 on Mr Ian Roscoe and debarred him for 20 years for providing unauthorised intermediary services that led clients to invest in the BHI Trust. The authority noted that the BHI Trust and its operator, Mr Craig Warriner, had previously been found to have contravened section 7(1) of the Financial Advisory and Intermediary Services Act, with Mr Warriner debarred for 30 years and sentenced to 25 years’ imprisonment.