FSCA Warns Public Against David Greenberg and Prime Bright Investment Limited

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with Mr David Greenberg (Mr Greenberg) and Prime Bright Investment Limited (Prime Bright Investment).

The FSCA has received information that Mr Greenberg is conducting unregistered business and soliciting money from members of the public to invest in electric motor vehicles. 

Mr Greenberg and Prime Bright Investment are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice and intermediary services. Despite its best efforts, the FSCA has not been able to reach Mr Greenberg.

The FSCA warns that 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 advice it is that the entity is registered to provide. 

It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.