Veracity Markets Review

About Veracity Markets

Veracity Markets (Pty) Ltd is a South African online trading firm whose official website is veracitymarkets.com. An administrative penalty order issued by the Financial Sector Conduct Authority (FSCA) states that during 1 March 2020–30 April 2022, while appointed as a representative of Nirvesh Financial Services (Pty) Ltd (FSP licence number 4701), Veracity Markets contravened provisions of the Financial Markets Act Regulations, the FAIS Act, and the General Code of Conduct by offering over‑the‑counter derivatives (CFDs). The FSCA imposed an administrative penalty of R10 million on Veracity Markets; the order is signed in Pretoria on 26 March 2024. The official site currently displays a maintenance message. FSCA order, Official site

Separate administrative penalty orders (Case No. 570) were issued against Ms Shelly Ann du Plessis and Mr Dane Mesane, described as directors/key persons of Veracity Markets during the same period; each was fined R1 million for causing the contraventions cited by the Authority. Both orders were signed in Pretoria on 26 March 2024. FSCA order (du Plessis), FSCA order (Mesane)

An enforceable undertaking accepted by the FSCA on 29 February 2024 confirms that Veracity Markets was a juristic representative of Nirvesh Financial Services from 29 May 2020 to 30 April 2022, and that neither entity was authorised as an OTC Derivative Provider under the Financial Markets Act while CFDs were being offered. The undertaking also records remedial steps for Nirvesh (FSP 4701), including governance and compliance measures. FSCA enforceable undertaking, FSCA Enforcement Actions