The Financial Sector Conduct Authority (“FSCA”) has warned the public against dealing
with an entity called Octodec Invest Ltd (“Octodec”).
In a statement, the FSCA, refuted claims that the company is associated with the
Johannesburg Stock Exchange (“JSE”).
“Octodec is using JSE’s name (a licensed Stock Exchange) without any approval, creating an impression that it is affiliated to the JSE and that its activities are approved by JSE when this is not the case.
JSE legal counsel has confirmed that Octodec is not in any way linked to the JSE” said the FSCA.
Octodec’s is also accused of using the JSE trademark, without authorization, which is in contravention of section 4(2) of the FMA, prohibiting a person who is not a licensed exchange from purporting to be an
exchange or behave in a manner or use a name or description which suggests, signifies or
implies that there is some connection between that person and an exchange.
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