Matshego Funeral Services Only Buries Payouts

The Financial Sector Conduct Authority (FSCA) has warned that Matshego Funeral Services (Pty) Ltd – which is failing to honour payouts to clients – is not authorised to render any financial services.

This week the FSCA cautioned the public against doing any financial services business with Matshego Funeral Services (Pty) Ltd (“Matshego Funeral”), which operates in the area of Hammanskraal, Gauteng.

The FSCA said Matshego Funeral Services offers funeral policies to members of the public.

However, when clients lodge funeral cover claims with Matshego Funeral Services, they promise to pay but in the end they do not do so, said the financial institutions’ regulator.

The FSCA said Matshego Funeral Services was not authorised to render any financial services and attempts to get hold of them were unsuccessful.

“Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of financial services it is that the entity is registered to provide,” said the regulator.

“Also of concern are the instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature.

“The FSCA reminds customers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.”