Cobus Kellerman cleared: FSCA

The FSCA has released the following update on the inspection into the affairs of financial services providers linked to Jacobus Kellermann.

“The Financial Sector Conduct Authority (FSCA) has concluded its inspection into the affairs of
various financial services providers connected to Mr Jacobus Kellermann. During 2014, the FSCA’s
predecessor, the Financial Services Board (FSB), provided assistance to certain foreign
regulators relating to funds that were allegedly channeled to several entities in South Africa. It
became apparent that Mr. Kellermann was a person of interest in the matter. The FSB’s inspection
therefore sought to establish whether Mr Kellermann was involved with any South African Financial
Services Providers (FSPs), and whether the funds of any South African clients were invested in the
foreign entities that were mentioned in media reports on the matter.

The FSB’s inspection established that Mr. Kellermann was or had been involved with the following South African FSPs:
• RSA Multi Asset Management (Pty) Ltd FSP 622
• Governation Investments SA (Pty) Ltd FSP 5735
• Pensionation Investments SA (Pty) Ltd FSP 44104
• Multivest Financial Planning (Pty) Ltd FSP 44887
• Contego Asset Management (Pty) Ltd FSP 788
• Clarus Asset Managers (Pty) Ltd FSP 858

Mr. Kellermann’s involvement with these FSPs took the form of either being the beneficial owner of
shares in the providers, or being the key individual and/or director of these FSPs.
The inspection found no evidence of any breaches of the relevant South African financial sector
laws. Neither the FSB nor the FSCA has been advised of any regulatory action having been taken
against Mr. Kellermann by any foreign regulator.

As part of its mandate to protect financial customers, while supporting the efficiency and integrity
of financial markets, the FSCA investigates any and all allegations of financial misconduct and
suspected contraventions of financial sector laws that are reported, or it becomes aware of. It also
adheres to Memoranda of Understanding concluded with foreign regulators to aid with any
investigation or information gathering within South African borders. This is to ensure that FSPs and
key individuals authorised by the FSCA always act in the best interests of consumers and that the
financial stability of the country is maintained at all times.”



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