Themba and Brian are friends. Themba is a self-employed financial advisor who manages the finances of a small group of clients. Brain, on the other hand, works at an Investment company and is a financial services provider representative. During a game of pool Brian shares with Themba that in the next few weeks, there will be a public announcement regarding a new company listing. He then suggests that Themba consider investing in this company now as he could make quite a nice profit once the company lists. Themba then uses this information to advise his clients regarding their financial portfolios.

Questions: Comment on Thembas actions. Is he allowed to use this information?

Motivate your answer List at least two elements of the FAIS Act that this case scenario goes against?