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Online Share Trading

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SimonPB
Valued Contributor
good Q, an I don;t know the answer .. they aren't stock brokers, but who (if anybody) guarantees them ?? and you are correct, FSB doesn;t guarantee anything .. just regulates ..
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Stij
Contributor
Hmmm... should be pretty important, no? A lot of people have a serious chunk of their life savings in there... The only relevant items I could find in the Ts & Cs: "Subject to paragraph 11 above, Satrix Managers may terminate the plan only by giving at least three months prior written notice to all participants. At the end of the period of notice the Administrator will close all investment plan accounts, and transfer Satrix securities to participants custodian accounts free of charge, and return all cash balances. If payments continue to be made to the Administrator after the termination date, the Administrator will hold such payments on account until instructions are received from the participant." and ""Satrix Managers", is a collective investment scheme management company (Satrix Managers (Pty) Ltd), registered with the Financial Services Board ("FSB"). Satrix Managers (Pty) Ltd (Registration Number 2004/009205/07) is registered by the FSB as the collective investment scheme management company for the Satrix 40 Trust, Satrix Fini Trust, Satrix Indi Trust, Satrix Swix Top 40 Trust, Satrix Resi Trust, Satrix Dividend Plus Trust and Satrix Rafi Trust."
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SimonPB
Valued Contributor
I will dig more and post here .. I do know they have a daily audit process .. an now that I think abut it, they fall under the CIS mandate (as with unit trusts etc.) ..
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Not applicable
my apologies, the comms figure is fully disclosed
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