Despite no regulatory action taken and its financial license remaining active, Eklavya Asset Managers continues to face reputational fallout after a now-removed notice on the FSCA website prompted third-party reporting. The firm seeks public clarification to resolve confusion from outdated content.
Eklavya Asset Managers, a licensed South African financial services provider (FSP 45583), confirms it has remained fully compliant and operational following a review initiated by the Financial Sector Conduct Authority (FSCA) in November 2024. Despite no sanctions or regulatory action, the firm continues to experience reputational damage due to public speculation.
The review, part of standard regulatory oversight, focused on Eklavya’s operations and its trading platform, SolisMarkets. Eklavya cooperated fully throughout the process. Since the conclusion of the inquiry, no enforcement steps, warnings, or penalties have been issued against the company or its affiliates. Eklavya’s FSCA license remains active and in good standing.
An initial statement referencing the review appeared briefly on the FSCA’s website in 2024 but was later removed. However, content based on that initial notice, including a widely circulated article published by compliance platform Moonstone titled “FSCA Investigating Solis Markets Following Complaints from Investors,” remains publicly available without context or closure. The company says this has caused ongoing reputational confusion and unjustified concern among clients and partners.
“Our clients deserve clarity,” said Dustan Cornelissen, Managing Director of Eklavya. “We welcomed the review and answered every inquiry. We’re now asking for the same transparency in return. If no wrongdoing was found and no action was taken, the record should reflect that as publicly as the initial notice did.”
Eklavya stresses that while it supports regulatory oversight and transparency, the absence of any public update confirming the matter’s closure has allowed unsupported allegations to linger. The company has formally contacted the FSCA and relevant publishers to request updated public communication that reflects the complete picture.
In the meantime, Eklavya continues to operate in full compliance. Licensed in 2013, the firm provides investment advisory, wealth management, and trading services to private and institutional investors across South Africa. Its platform, SolisMarkets, has also remained fully functional and compliant.
Eklavya has intensified internal communication and compliance practices to reassure stakeholders, including adopting broader disclosure protocols, enhancing oversight mechanisms, and launching new client tools such as its AI-based “Market Pulse” system. The firm also expands inflation-hedged and cross-border solutions to serve investors better amid ongoing economic uncertainty.
Plans are also underway to open a regional office in Namibia by late 2025, with further expansion into the SADC region expected by 2027.
“This has been a reminder of how quickly incomplete information can take on a life of its own,” Cornelissen added. “We stand by how we’ve handled the review process and continue to operate with the highest standards of integrity.”
Eklavya encourages the media and the public to reference the firm’s current regulatory status via its FSCA registration (FSP 45583) when evaluating online content related to the matter.
Visit the Eklavya Asset Managers website to learn more about the company’s regulatory compliance and service offerings.
About Eklavya Asset Managers
Eklavya Asset Managers is a registered financial services provider based in South Africa. It offers comprehensive asset management services tailored to client-specific goals and risk profiles. With an emphasis on regulatory compliance and client education, Eklavya aims to build long-term relationships based on trust and transparency. The Financial Sector Conduct Authority (FSCA) licenses the company under FSP license number 45583.
For more details, contactDustan Cornelissen, Managing Director, Eklavya Asset Managers, at mgmt@eklavya-am.com.
Media Contact:
Company Name: Eklavya Asset Managers
Contact Person’s Name: Dustan Cornelissen, Managing Director
Company website: www.eklavya-am.com
Contact Email Address: mgmt@eklavya-am.com
Country: South Africa
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