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FSCA Issues Correction Regarding Public Warning Against Mr Thato Sigegede Moloi and Raindrop Brokers (Pty) Ltd

On 3 February 2025, the Financial Sector Conduct Authority (FSCA) issued a media release warning the public to be cautious when conducting financial services business with Mr Thato Sigegede Moloi (Mr. Moloi) and Raindrop Brokers (Pty) Ltd (Raindrop Brokers).

FSCA has previously warned the public that “Moloi and Raindrop Brokers are not authorised in terms of any financial sector law to provide financial products or financial services in South Africa.”

The FSCA has received information from Mr. Moloi and Raindrop Brokers that necessitates a correction of what it previously published. Raindrop Brokers was duly authorised as a juristic representative of an authorised financial services provider during the period 21 November 2024 until 8 March 2025.

The FSCA apologizes for any inconvenience caused as a result of its earlier media release.

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