MEDIA RELEASE

Watch out for this ‘investment manager’

The Financial Services Board (FSB), the regulatory supervisor of the non-banking financial services industry, has warned the public to be cautious in dealing with Nicolette (Nicky) van der Westhuizen of NicFin Financial Services as she is not an approved investment manager.

 FSB spokesperson Russel Michaels says: “Van der Westhuizen of Wonderboom South, Pretoria is not an approved investment manager in terms of the Stock Exchanges Control Act, 1985 and the Financial Markets Control Act, 1989. 

“She may therefore not carry on business as an investment manager, or as an intermediary to buy and manage securities (listed shares, bonds, futures contracts or unit trusts) on behalf of individual clients in her own name. Nor may she do so in the name of NicFin Financial Services CC and may also not solicit such business. 

“According to our records, Van der Westhuizen, is not employed by a stockbroking member firm of the JSE Securities Exchange. 

“The FSB has information that Van der Westhuizen has been soliciting funds for investment mainly on the JSE Securities Exchange throughout South Africa. Potential investors are advised not to place their investments in securities through the intermediation of Van der Westhuizen.”

 ENDS

Issued by              Russel Michaels
                            Manager: Communication & Liaison
                            Financial Services Board
                            Tel (012) 428 8025 / 083 281 2954
                            Tuesday 24 April 2001