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PSG Wealth legal

PSG Wealth legal

License information

The following PSG Wealth companies are registered in terms of FAIS.

  • PSG Employee Benefits Ltd is an authorised financial services provider - FSP 33657. Approved for Cat I
  • PSG Life Ltd is an authorised financial services provider - FSP 22557. Approved for Cat I
  • PSG Invest (Pty) Ltd is an authorised financial services provider - FSP 563. Approved for Cat III
  • PSG Multi Management (Pty) Ltd is an authorised financial services provider - FSP 44306. Approved for Cat I and CAT II
  • PSG Securities Ltd is a member of the JSE Ltd and an authorised financial services provider -FSP 42996. Approved for Cat I
  • PSG Fixed Income and Commodities (Pty) Ltd is a juristic representative of PSG Securities Ltd under FSP 42996
  • PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider - FSP 728. Approved for Cat I and Cat II

The following PSG Wealth companies are members of the JSE Ltd

  • PSG Fixed Income and Commodities (Pty) Ltd is a Interest Rate and Currency Derivative-. member of the JSE Ltd.
  • PSG Securities Ltd is a member of the JSE Ltd and an authorised financial services provider. FSP 42996.

The following PSG Wealth companies are registered credit providers

  • PSG Scriptfin (Pty) Ltd is a registered credit provider, NCRCP No. 5535.

Complaints resolution procedure

This page is under construction.

Consent to conduct business electronically

This consent applies to clients registering and transacting directly on the PSG Wealth trading and investment platform (which includes PSG Securities Ltd, PSG Life Ltd, PSG Invest (Pty) Ltd, PSG Fixed Income and Commodities (Pty) Ltd, and PSG Scriptfin (Pty) Ltd)

1. Applying Electronically

If you decide to apply for a username or register for a product with PSG trading and investment platform, you agree to receive all account information and statements electronically.

2. Electronic Communications

All account documentation and statements and any notices, instructions, agreements, or any other communications regarding transactions and your account (all of which are referred to herein as the "Communications") may be presented, delivered, stored, retrieved, and transmitted electronically.

3. Executing Transactions Electronically

The Agreement and Transactions will be executed using electronic records and electronic signatures.

4. Consenting to Do Business Electronically

The decision whether to do business electronically is yours, and you should consider whether you have the necessary hardware and software capabilities. Your consent to do business electronically, and our agreement to do so, only applies to the establishment and maintenance of your Account and the execution of transactions in connection with your Account.

5. Withdrawal of Consent

You have the right to withdraw your consent to doing business electronically at any time. However, if you withdraw such consent, any Communications or Transactions between us during the period after your consent to doing business electronically, and before your withdrawal of such consent, will be valid and binding on all parties.

6. Changes to Your Contact Information

You should keep us informed of any change in your electronic or mailing address or other contact information.

7. Printing

You may print this document by selecting Print from the File menu.

8. Your Ability to Access Communications

When accepting our terms and conditions, you acknowledge that you have the capability to access the Communications.

9. Consent to Electronic Communications

When accepting our terms and conditions, you consent to having all Communications provided or made available to you in electronic form.

10. Consent to Executing Transactions Electronically

When accepting our terms and conditions, you consent to executing the Agreement and Transactions by electronic record and/or electronic signature.

General PSG Wealth trading and investment platform disclaimer

The web portal PSG Wealth trading and investment platform has developed certain online financial planning programs, designed as 'self-help' tools for people who choose to personally and in the comfort of their own home or office, determine their investment and insurance strategies and objectives.

As the nature of investing and insurance involves certain elements of risk, we urge you to take the time to read, study and understand this disclaimer.

Should you make use of the Online Financial Planning tools on this site and make any investment decision based on the outcome of the tool, you choose not to make use of an expert adviser and accordingly accept full responsibility and assume all risk for any loss, harm or damage caused by your use and reliance on the information so provided by the online financial planning tools on this site.

You furthermore understand and accept that the acceptance of insurance cover and underwriting is dependent on the accuracy and complete disclosure of the information required to be so disclosed by the site and/or telephone consultant tasked with activating your insurance.

Obtaining expert advice is always recommended and we encourage all users, whether existing clients or not, to consult with their financial planner/adviser before making any decisions based on the outcomes or information generated by the tools or programs available on this website and its links.

As no advice is given for insurance or investment purposes and as the programs and tools are only designed to reflect potential outcomes based on the information you are responsible for accurately and honestly providing, PSG Konsult, its affiliates or holding company, including its directors, employees and contractors from time to time, do not accept any form of liability whatsoever, for any loss, liability or damage suffered, whether direct or consequential, resulting or ensuing from the use of or reliance on the programs, tools, online insurance quote tools and information contained in this site or any links from this site.

PSG Wealth trading and investment platform always strives to stay abreast of the latest legislative and financial industry updates. We furthermore strive to correctly and accurately reflect all information. However, financial information is constantly changing and quickly becomes outdated. Accordingly all information on this site is provided 'as is' and no warranties, either expressly or implied can be given that any information is up to date or accurate. We caution and urge any users of this site, to independently verify the information contained and obtained on this site. Any harm caused or loss suffered, whether direct or consequential, as a result of a reliance on the information or programs available on this site is disclaimed.

Should you not fully understand the nature, effect or any provisions of the above disclaimer, you are cautioned not to proceed until such time as you have had your financial adviser or legal adviser explain the effect and consequences of this disclaimer.

This publication has been issued by PSG Wealth trading and investment platform. It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. Opinions and estimates constitute our judgement as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This report is provided for informational purposes only. No information contained herein, no opinion expressed and no recommendation made constitutes a representation by us or a solicitation for the purchase of any of the securities mentioned herein and we have no responsibility whatsoever arising here from or in consequence hereof. Securities, financial instruments or strategies mention herein may not be suitable for all investors and investors must make their own investment decisions using their own independent advisers as they believe necessary and based upon their specific financial situations and investment objectives. The employees of PSG Wealth trading and investment platform may from time to time own securities mentioned herein. Analyst Certification The research analyst who prepared this report certifies that the view expressed herein accurately reflect the research analyst's personal views about the subject security and issuer and that no part of his compensation was, is or will be directly or indirectly related to specific recommendations or views contained in this report.

PSG Wealth trading and investment platform consolidated agreement

PSG Wealth trading and investment platform terms and conditions

By your acceptance of the PSG Securities Ltd Terms and Conditions, you hereby accept the conditions of this agreement and the standard conditions of www.psg.co.za (-the Site-) and agree as follows:

1. By utilising any services on this Site, you the user, agree that you have reviewed the Site in its entirety, that you have accepted the terms and conditions applicable to the services, including all legal and regulatory terms and are conversant with and understand such terms and conditions and the applicable local legislation and regulations. Details of the terms of use of the Site can be found on the Site.

JSE mandate

1. This is a mandate as contemplated in the rules (the rules) of the Johannesburg Stock Exchange (the JSE) and the relevant legislation.

2. The mandate shall be governed by and construed in accordance with the JSE Rules and Directives and the laws of the Republic of South Africa. The parties irrevocably and unconditionally agree that any complaint/dispute is to be handled in accordance with section 11 of the JSE Equities Rules (a copy of the rules is available upon request).

3. The words and phrases used in this mandate shall have the meaning ascribed to them in the JSE Equities and JSE Derivatives Rules and/or legislation.

4. By accepting/initialling every page and signing at the foot of this document and the annexure hereto, you authorise PSG Securities Ltd to manage all execution obligations in terms of your investments and comply with all relevant provisions of the JSE Rules and applicable legislation.

5. This mandate shall commence on the date of signature/acceptance hereof, and may be terminated by either party in writing. The management of the investment, asset out below, shall be conducted on the basis set out herein. To this end, you hereby appoint PSG Securities Ltd or your adviser as your duly authorised agent on your behalf to purchase, sell and/or to enter into any transaction in accordance with this mandate, both in the Republic of South Africa and, if and when permitted by law, in foreign countries in respect of listed securities, unlisted securities, warrants to subscribe for the investments in listed securities, unit trusts and similar schemes, Krugerrands, bonds, foreign equity linked products, investments similar to or related to any of the aforementioned or contemplated in the applicable legislation; and any other securities or financial instruments as specifically identified in a separate agreement relevant to such instruments.

6. Unless specifically authorised by you to do so, PSG Securities Ltd or your adviser shall not, as a manager of your investments, take a position against you, nor sell to you for our own account any investments owned by us, nor buy from you any investments for our own account.

7. Unless otherwise specified in-

7.1. You warrant that all such investments as you may deliver or cause to be delivered to us in terms of this mandate are not subject to any lien or charge and that they shall remain free of any such lien or charge while they are held by us in safe custody.

7.2. All investments other than cash and bearer instruments shall be registered in the name of PSG Nominees (Pty) Ltd as nominee on your behalf and for your benefit in terms of the JSE Rules, Directives and Law.

8. Safe custody:

8.1. Your investments comprising listed uncertificated securities shall be held by PSG Securities Ltd in safe custody, reflected as an electronic entry in a central depository or electronic scrip or nominee registry as approved by the JSE and subject to any applicable legislation.

8.2. If we are not an account holder in such depository or registry, we shall be entitled to create an electronic entry in respect of the investments in the depository or registry through a participant of our choice. Notwithstanding anything contained in 8.1, unless you notify us to the contrary, any such investments shall be held to your order via the participant’s nominee or our nominee.

9. You authorise PSG Securities Ltd to hold any such investments in safe custody or to move such investments from one electronic record to another, or withdraw any such investment from safe custody for the purpose only of:

9.1. Transferring the investments to you or to such destination at your risk upon your written instructions;

9.2. Dealing with the investments fulfil terms of this mandate;

9.3. Lodging the investments on your behalf with any person or entity in terms of an order of court or a special resolution of the issuer of the investments;

9.4. Any other lawful purposes in terms of this mandate.

9.5. It is specifically recorded that we may not exercise the rights attaching to any investments for our own purpose or interest but may only act in accordance with your instructions for cash deposits, interest, dividends, proceeds of disposals and cash, received by us for your account arising from this mandate, shall be paid by us for your credit and in your name directly into JSE Trustees (Proprietary) Limited (JSET) in terms of the JSE Rules unless the funds are paid over to you subject to paragraph 11 below.

9.6. Where this mandate is terminated, all payments will be made to you into your bank account as stipulated by you.

9.6.1. You authorise us to retain or to withdraw from any cash deposited by us on your behalf in JSET such amounts as are actually required to pay for investments purchased on your behalf; and /or

9.6.2. Effect such other payments as are strictly necessary in the operation of this mandate; and /or

9.6.3. Discharge a debt due to us from you whether in respect of the fees due under this mandate or otherwise.

10. The obligations of payment in terms of this mandate to or from JSET are governed by the JSE Rules and Directives and the obligation fall onto you to familiarise yourself with those terms and conditions. The details can be found on the JSE website or from your adviser.

11. For the services to be provided by us, we shall be entitled to a monthly administration fee, as amended from time to time. We are specifically authorised to realise any investment held by us in terms of this mandate should there be insufficient cash available to settle our monthly fees, realised trading losses or unsettled transactions. Should our mandate be terminated during any calendar month, our fee in respect of that month shall be payable on the date of termination.

12. We shall not pay interest less than R20 per month.

13. We shall on a monthly basis deduct a one percent turn fee from the interest that you earn on your cash held by the JSE Trustees (Pty) Ltd (JSET).

14. We shall furnish you with a monthly statement of account showing details of all transactions. The statement will adhere to all the JSE requirements described in the JSE Rules and Directives.

15. Third party instructions will only be effected in terms of our company policy. This policy is for both parties’ protection and anti-money laundering procedures and you indemnify us and hold us harmless against all and any loss, liability, costs, demands and damages of any nature, directly or indirectly suffered by yourself as a result of any such instruction.

16. You herewith acknowledge that you are aware of the risks inherent in the investments set out above. In addition, you accept that such risk may result in a financial loss to you and you indemnify and hold us harmless for liability, loss or damage whatsoever;

16.1. Incurred or suffered by you arising from this mandate;

16.2. Which we or any other party may incur or sufferer; or

16.3. As a result of any instruction or conduct of a third party duly appointed by you, or due to fraud or otherwise.

17. You acknowledge that you are aware of your material settlement obligation. Should you fail to meet settlement on settlement date, we shall take reasonable action to mitigate our risk. You will be held liable for all losses, profits, fine or costs incurred. Please see a copy of the material obligations as Annexure A1.

18. Where confirmation of a transaction is transmitted to you through an electronic medium, we (PSG Securities/Adviser) will not be liable to you or any other person receiving the confirmation for or in respect of any direct, indirect or consequential liability, loss, damages or cost of any kind of nature arising by virtue of the fact that the confirmation is sent through an electronic medium.

19. You hereby indemnify and hold us harmless in respect of any income tax or other tax or levy of whatsoever nature. All tax obligations remain your responsibility and PSG will adhere to all relevant laws to report and/or withhold tax as required in terms of the respective legislation.

20. We shall endeavour to contact you, including via electronic communication, pertaining to corporate actions. Should we not have your election by the deadline date and time specified, we shall apply the default option as communicated in the notice of the event. You must familiarise yourself with the JSE Rules regarding corporate actions or ask your adviser.

21. Subject to that set out above, if PSG Securities Limited for any reason ceases to be a member of the JSE, this mandate shall automatically terminate with immediate effect.

22. We choose as our respective domicilium citandi et executandi for the purpose of the service of all notices and processes pursuant to this mandate our respective physical addresses as provided to PSG when opening an account, or such other physical address as may be stipulated by notice in writing. The onus rests on the client to inform PSG of any change to his/her personal details.

23. No addition to or variation or amendment to this mandate shall be binding unless contained in a written document signed by the parties hereto. No term, provision, condition or representation relating to the subject matter hereof, not contained herein or in the annexes hereto shall be binding and enforceable on either of the parties unless agreed to in writing and acknowledged by the parties.

24. Any notice given in terms of this mandate shall be given in writing and shall be deemed, unless the contrary is proved, if: delivered by hand, to have been received on the date of delivery; transmitted by facsimile or email, to have been received on the date of transmission; and sent by post, to have been received 10 days after the date of posting.

25. The Schedules annexed hereto, if signed by or on behalf of both of us, shall be binding on us as if specifically incorporated into the mandate until cancelled by notice in writing as contemplated herein.

26. You consent to our recording any telephone conversation between you and any member of our staff and acknowledge that this is for record purposes.

27. You consent to us executing a consumer scan on your person. The information obtained from the consumer scan will remain the property of PSG Securities Limited and will not be divulged to outside parties.

28. Brokerage fees charged may change from time to time. The brokerage fee structure is displayed on our website. Any variation of the fees shall be sent by way of written notification to you at least one month prior to its implementation.

Annexure A1

In terms of the Financial Markets Act 2012 (FMA) and the rules of the JSE Securities Exchange South Africa, members are required to ensure that buyers and sellers of listed securities are aware of their material obligations in terms of the provisions of FMA and the rules which relate to the trading and settlement of uncertificated securities. In terms of Financial Markets Act and the rules, the material obligations of clients include the obligations set out below.

A controlled client is a client who does not appoint a Central Securities Depository (CSD) participant of his own, and the settlement of the transactions entered into by the client is conducted by the member of the client via accounts belonging to the member in the records of the CSD participant.

Material Obligation 1:

Settlement principles provide that each transaction is represented by a single contract note between the ultimate seller and ultimate buyer, the market convention is applied that parties to a transaction have a contractual obligation to cause such transaction to settle on a specific day, settlement day (which is currently five business days after the trade was done) and on a net basis per member per listed security.

Material Obligation 2:

A controlled client must sign a mandate before transacting and obtain a receipt from the member when the securities are placed under the control of the member. A controlled client must receive a monthly statement and reconcile the STRATE approved securities reflected on the statement with his records. The client must advise a member of its choice for an elective corporate action by no later than 16h00 three days prior to the record date for that corporate action and must advise a member if it wishes to receive information from any issuer regarding securities that the client owns.

Material Obligation 3:

A controlled client may not place an order to sell a STRATE approved security unless the securities to be sold are in the custody of the member and have been dematerialised; or another transaction has been entered into by the client for the equivalent number of uncertificated securities to be available for settlement on T+5; or the client has made arrangements to borrow the equivalent number of uncertificated securities and the equivalent securities will be available for settlement to take place on T+5.

Material Obligation 4:

By no later than 16h00 on T+2, a controlled client without a Scriptfin Loan Facility must ensure that the member is in a position to settle the transaction on T+5.

Material Obligation 5:

Where the controlled client fails to put the member in a position before 16h00 on T+2 to settle the transaction on settlement day, the controlled client will forfeit any rights that the client may have had in respect of the said transaction, including the right to enforce performance of the transaction. Notwithstanding such forfeiture, the client shall remain liable for any losses, costs and charges incurred, or charge imposed by the member which effected the said transaction. A member shall have the right but not the obligation to allow a controlled client to honour his obligations until 12h00 on T+4 after which the obligation to settle reverts to the member. Where the controlled client has not complied with its obligation to put the member in a position to effect settlement and neither the member nor the settlement authority is able to effect settlement the settlement authority shall as at 16h00 on T+4 declare the transaction to be a failed trade. Despite this, the notification at any stage prior to 16h00 on T+3 by a controlled client to a member of its inability to put the member in a position to settle, may result in the declaration of a failed trade by 09H00 on the following business day.

Material Obligation 6:

Where a transaction of a controlled client fails, such client may be responsible for any balance of the non-failing party’s transaction which was closed. The settlement authority will close a failed trade against another transaction. When such closing constitutes a part of a larger transaction, the non- failing party may apply to the settlement authority to have the balance of the transaction cancelled. If successful, the failing controlled client will take the place of the non-failing party for the balance of such transaction.

Material Obligation 7:

As a consequence of the controlled client not meeting material obligation 4 and where the member or the settlement authority is able to effect settlement by borrowing funds or securities the member shall be entitled to:

In respect of a sale transaction - Immediately buy the required securities for the account of the client; and the client must pay to the member the difference between the sale consideration of the securities the client requested to be sold and the purchase consideration of the securities which were bought-in by the member, including any interest.

In respect of a purchase transaction - the client must pay the member the difference between the purchase consideration of the securities which were purchased at the clients request and the sale consideration of the securities sold by the member, including interest.

If there is any amount still owing by the client after the member has taken the steps set out above, the member may also sell any other securities of the client which the member holds for the client or which the member may receive on behalf of the client in order to realise the difference.

Material Obligation 8:

Where a controlled client has not made available securities timeously and a member borrows securities to effect settlement for the controlled client, the controlled client is responsible for costs that may be incurred by the member in this regard and any penalties imposed on the member. These costs include the costs related to manufactured dividends.

Material Obligation 9:

Where a member borrows funds either directly or via the settlement authority to effect settlement for a controlled client who has not made payment of the required funds to the member timeously, the controlled client is responsible for any costs incurred by the member or penalties imposed on the member in this regard.

Material Obligation 10:

Where a controlled client does not meet his obligations timeously, and neither the member nor the settlement authority is able to borrow funds or uncertificated securities to ensure that settlement of the transaction takes place, then the transaction of the failing controlled client shall be closed by the member in accordance with instructions provided by the settlement authority. A failing controlled client will in addition to any fees and penalties, be responsible for any compensation that is paid to the non-failing party.

Material Obligation 11:

A client may be invited by the JSE to voluntarily give up a transaction, or a part of a transaction, where the JSE believes that it is likely that the transaction will not settle because of a potential failed trade. If the client gives up a transaction or a part of the transaction, the client will be entitled to receive compensation.

Material Obligation 12:

If there is a failed trade which will result in a transaction or part of a transaction not settling, a client must, if instructed by the JSE, give up the transaction or a part of the transaction. The client will then be entitled to receive compensation. If a client is instructed by the settlement authority to give up a part of a transaction, the client may apply to give up the entire transaction. If the settlement authority allows the giving up of the entire transaction, the client waives any right to receive compensation.

Stop orders disclaimer

PSG Wealth trading and investment platform provides stop order (also called stop loss) facilities for share or equity (EQT), single stock futures (SSF) and contract for difference (CFD) trading accounts and other products that might be added from time to time.

Stop orders have two components - a PRICE WATCH that monitors the market for price movements above or below certain levels and a STOP ORDER that represents an actual order submitted to the market once the price watch criteria have been met.

Please note that STOP ORDERS ARE ACTUAL ORDERS that will enter the market in the same direct way as any other order once the price watch criteria have been met and that we cannot guarantee that the order generated by the stop order will trade in the market.

Stop orders should be used with extreme caution, as they can CREATE NEW POSITIONS even if they were originally entered to close existing positions. This could happen if the original existing positions have already been closed at the time that the stop order triggers.

For the same reason, STOP ORDERS CAN CREATE DUPLICATE ORDERS if multiple stop orders were created and trigger at the same time - even if they were set at different price levels, depending on the underlying instrument price movement.

It is your responsibility to ALWAYS CANCEL STOP ORDERS once you have closed existing positions, if it was your intention to close existing open positions. Stop orders can of course be used to open new positions in their own right, based on the price watch criteria.

Unless otherwise specified, STOP ORDERS ARE NOT GUARANTEED and will simply submit an order into the market at the price you have specified. If the market has moved beyond your order price, the order submitted might no longer find willing buyers or sellers in the market.

CFD and SSF stop orders that triggered are ONLY ACTIVE FOR THE DAY ON WHICH THEY HAVE TRIGGERED. The actual market orders produced by the stop orders expire at the end of the trading day.

OTS Disclaimer

All information provided by the Client shall be true and correct and the Client indemnifies and holds the PSG Wealth trading and investment platform and Celerity Systems harmless against any loss, damage or liability resulting from incorrect information supplied by the Client;

The Client username and password shall provide access to the OTS system (the Product) and all functionality and applications therein and shall be kept confidential by the Client at all times and the Client indemnifies and holds PSG Wealth trading and investment platform and Celerity Systems harmless against any loss, liability or damage resulting from any other person using the Client's username and password without the necessary authority;

PSG Wealth trading and investment platform and Celerity Systems have the right to modify, replace and withdraw the Product or use thereof at any time without giving reasons therefor;

PSG Wealth trading and investment platform and Celerity Systems do not make any warranties that the Product will be available at all times and shall not accept any liability for loss or damages resulting from downtime or other interruptions;

PSG Wealth trading and investment platform and Celerity Systems do not have any duty or obligation to verify trading information or authorities supplied by the Client or Broker for funds transfers and cannot accept any liability for disputed transfers or trades;

The Client shall a) changes his/her password on a regular basis, b) ensure the safekeeping and confidentiality of his/her password and c) notify PSG Wealth trading and investment platform and Celerity Systems immediately of any unauthorised use of the password;

No agreement between the adviser and the Client shall in any way amend or cancel any agreement between PSG Wealth trading and investment platform and Celerity Systems or any other party;

The Client shall, under no circumstances, overdraw his/her account or exceed limits without the prior and written confirmation of PSG Wealth trading and investment platform and Celerity Systems who may, at any time, prescribe financial or other limits on the Client;

The Client shall ensure that he/she maintains the correct hardware and software that is compliant with the Product and follow all security instructions provided by PSG Wealth trading and investment platform and Celerity Systems at any time;

The Client is licensed the non-transferable right to use the Product for the specified purpose and not for any other purpose whatsoever;

Notwithstanding any provision herein or any provision in the agreement between PSG Wealth trading and investment platform and Celerity Systems and the adviser, PSG Securities Ltd and Celerity Systems shall NOT BE LIABLE FOR ANY LOSS, DAMAGE OR LIABILITY INCURRED BY THE CLIENT OR ADVISER FOR WHATSOEVER REASON. EVEN IF SUCH LOSS, LIABILITY OR DAMAGE CAN BE ATTRIBUTED TO GROSS NEGLIGENCE OR WILFUL ACTIONS ON THE PART OF CELERITY SYSTEM AND PSG Securities Ltd, THE LIABILITY OF CELERITY SYSTEMS AND PSG Securities Ltd SHALL BE LIMITED TO ZAR 50 000,00.

Independent financial research (IFR) disclaimer

This publication has been issued by Independent Fundamental Research CC ("IFR"). It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. Opinions and estimates constitute our judgement as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This report is provided for informational purposes only. No information contained herein, no opinion expressed and no recommendation made constitutes a representation by us or a solicitation for the purchase of any of the securities mentioned herein and we have no responsibility whatsoever arising here from or in consequence hereof. Securities, financial instruments or strategies mention herein may not be suitable for all investors and investors must make their own investment decisions using their own independent advisers as they believe necessary and based upon their specific financial situations and investment objectives. The employees of IFR may from time to time own securities mentioned herein.

IFR certification

The research analyst who prepared this report certifies that the view expressed herein accurately reflect the research analyst's personal views about the subject security and issuer and that no part of his compensation was, is or will be directly or indirectly related to specific recommendations or views contained in this report.

PSG Wealth trading and investment platform technical analysis and research information disclaimer

This publication has been issued by PSG Wealth trading and investment platform. It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. Opinions and estimates constitute our judgement as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This report is provided for informational purposes only. No information contained herein, no opinion expressed and no recommendation made constitutes a representation by us or a solicitation for the purchase of any of the securities mentioned herein and we have no responsibility whatsoever arising here from or in consequence hereof. Securities, financial instruments or strategies mention herein may not be suitable for all investors and investors must make their own investment decisions using their own independent advisers as they believe necessary and based upon their specific financial situations and investment objectives. The employees of PSG Wealth may from time to time own securities mentioned herein. Analyst Certification The research analyst who prepared this report certifies that the view expressed herein accurately reflect the research analyst's personal views about the subject security and issuer and that no part of his compensation was, is or will be directly or indirectly related to specific recommendations or views contained in this report.

Product terms and conditions / client mandates

Contract For Difference

Currency Futures

Endowment

Exchange traded products (PDF: to be confirmed)

Living Annuity

Local shares

Offshore shares

Preservation Pension Fund

Preservation Provident Fund

Single Stock Futures

Scriptfin Loan Facility

Retirement Annuity

Tax Free Investment Plan

Voluntary Investment Plan

Fica Requirements

Click here to view FICA requirements

Copyright © PSG Konsult Ltd (1998-2016), All Rights Reserved. FAIS affiliates of the PSG Konsult Group are authorised financial services providers.